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Italy’s international trade in services: a story of missed growth?

Author

Listed:
  • Alessandro Moro

    (Bank of Italy)

  • Enrico Tosti

    (Bank of Italy)

Abstract

The paper analyses the trend in Italy’s trade in services over the last twenty years, showing a low growth in relation to its potential demand and in comparison with the main euro-area countries. The delay accumulated by Italy’s exports of services from 1999 to 2015 was highly significant and only in the subsequent period was there a recovery. The analysis by typology shows that services other than travel and transport are the aggregate with the worst performance compared with a stronger trend at global level; from a geographical point of view, sales outside the EMU have displayed the most negative contribution. Using firm-level microdata, it is possible to examine the main determinants of Italian service exports, highlighting the negative role of the scarcity of medium-sized and large companies, the low productivity and the limited internationalization of the services sector; the recovery recorded in the three years 2016-18 was driven by large foreign-controlled companies.

Suggested Citation

  • Alessandro Moro & Enrico Tosti, 2019. "Italy’s international trade in services: a story of missed growth?," Questioni di Economia e Finanza (Occasional Papers) 519, Bank of Italy, Economic Research and International Relations Area.
    • Handle: RePEc:bdi:opques:qef_519_19
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    File URL: https://www.bancaditalia.it/pubblicazioni/qef/2019-0519/QEF_519_19.pdf
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    Cited by:

    1. Alessandro Moro & Enrico Tosti, 2020. "The determinants of service export behaviour in Italian non-financial firms," Questioni di Economia e Finanza (Occasional Papers) 577, Bank of Italy, Economic Research and International Relations Area.
    2. Nadia Accoto & Stefano Federico & Giacomo Oddo, 2023. "Trade in services related to intangibles and the profit shifting hypothesis," Temi di discussione (Economic working papers) 1414, Bank of Italy, Economic Research and International Relations Area.

    More about this item

    Keywords

    International trade in services; mirror statistics; foreign demand; firm-level data;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • L80 - Industrial Organization - - Industry Studies: Services - - - General

    NEP fields

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