Italys Top Products in World Trade

This book analyzes Italys external competitiveness in detail and introduces a new index, devised by Marco Fortis and Stefano Corradini for Fondazione Edison, that highlights the strengths of Italys foreign trade. Compared with the Trade Performance Index compiled and updated annually by UNCTAD/WTOs International Trade Centre, the Fortis-Corradini Index (FCI) provides greater sectorial detail by referring to 5117 products identified according to the six-digit HS 1996 international classification available on the UN Comtrade database. The new index confirms that, contrary to widespread opinion, Italy is one of the worlds most competitive countries, with an extraordinary position of leadership in world trade. Thus, according to the FCI, for 932 products Italy was either first, second or third worldwide in terms of foreign trade surplus in 2012. Furthermore, the FCI reveals, for example, that only three countries (China, Germany and the United States) surpassed Italy in 2012 in terms of the number of first, second and third places in their trade balance worldwide. In presenting the FCI and meticulous statistical data, this highly original study will be of wide interest.