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Recent export developments in the pharmaceutical sector in Italy and in the Lazio region

Author

Listed:
  • Gloria Allione

    (Banca d’Italia)

  • Raffaello Bronzini

    (Banca d’Italia)

  • Claire Giordano

    (Banca d’Italia)

Abstract

According to international trade statistics, the pharmaceutical sector, in which Italy has a significant degree of specialization, has contributed markedly to the rebound in Italy’s goods exports since 2010; in 2019 foreign sales of these products recorded a sharp increase, even by international comparison, which was boosted by Italy’s main exporting region, Lazio. The growth in exports benefited from a significant expansion in the productive capacity of a number of firms in the region and to the spread of contract manufacturing, both at the national and regional level. This activity, when it occurs without a change in ownership of the contracted good between the foreign contractee and the contractor in Italy, is defined as “processing” and is included in goods exports sourced from international trade statistics but not in the corresponding series in national accounts. The pharmaceutical sector’s contribution to the growth in total goods exports in Italy in 2019 is smaller when computed net of processing, yet still larger than that recorded in the previous two-year period, confirming the structural soundness of the sector.

Suggested Citation

  • Gloria Allione & Raffaello Bronzini & Claire Giordano, 2020. "Recent export developments in the pharmaceutical sector in Italy and in the Lazio region," Questioni di Economia e Finanza (Occasional Papers) 566, Bank of Italy, Economic Research and International Relations Area.
    • Handle: RePEc:bdi:opques:qef_566_20
    as

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    File URL: https://www.bancaditalia.it/pubblicazioni/qef/2020-0566/QEF_566_20.pdf
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    References listed on IDEAS

    as
    1. Silvia Fabiani & Alberto Felettigh & Claire Giordano & Roberto Torrini, 2019. "Making room for new competitors. A comparative perspective on Italy’s exports in the euro-area market," Questioni di Economia e Finanza (Occasional Papers) 530, Bank of Italy, Economic Research and International Relations Area.
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    5. Scherer, F.M., 2000. "The pharmaceutical industry," Handbook of Health Economics, in: A. J. Culyer & J. P. Newhouse (ed.), Handbook of Health Economics, edition 1, volume 1, chapter 25, pages 1297-1336, Elsevier.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    international trade; pharmaceutical products; contract manufacturing;
    All these keywords.

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • F10 - International Economics - - Trade - - - General

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