TRIESTE – Friuli Venezia Giulia’s exports recorded the worst performance in Italy in the first quarter of 2026, with a 35.4% decline compared with the same period of the previous year.
The figure is almost entirely linked to the particular dynamics of the shipbuilding sector, an industry characterised by sharp fluctuations connected to vessel delivery schedules.
According to Ires FVG’s processing of Istat data, the overall value of regional exports fell from €6.2 billion to around €4 billion, with a loss of more than €2.2 billion. At national level, over the same period, exports instead grew by 1.3%.
The decisive factor was the ships and boats segment. In the first quarter of 2025, shipbuilding exports had exceeded €2.2 billion, while in the first three months of 2026 they stopped at just €6.6 million. This difference reflects the delivery calendar and not a crisis in the sector, as underlined by the Ires analysis. The importance of shipbuilding for the regional economy clearly emerges when looking at the figure adjusted for this effect. Excluding the naval sector, Friuli Venezia Giulia’s exports would in fact have recorded growth of 1.2%, substantially in line with the national trend.
The picture therefore highlights the strategic weight of naval engineering in the regional economy. Major international orders and the delivery of vessels can significantly alter quarterly export statistics, amplifying both positive and negative phases.
Among the sectors that showed the best performances were steelmaking, up 5.5%, the food and beverage industry (+3.8%) and the computer, electronic and optical products sector (+16%). Less favourable signals came from machinery and equipment (-2.9%), furniture (-6.4%) and electrical equipment (-13.6%).
The geographical distribution of exports also reflects the shipbuilding effect. Sales to Germany fell by 65.7%, while those to the United States collapsed by 82.7%. These are markets strongly influenced by the nationality of the shipowners receiving vessels built in the region’s shipyards. France was also down (-6.8%).
Positive results instead came from several European markets close to Friuli Venezia Giulia. Exports to Austria grew by 8.7%, those to Slovenia by 17.9%, to the United Kingdom by 7.8% and to Hungary by 38.7%.
On the import front, the first quarter closed with a 9.6% decrease. The regional trade surplus remains broadly positive, but narrowed significantly, falling from €3.6 billion in the first three months of 2025 to €1.7 billion in the corresponding period of 2026.
