The Europe 2020 Strategy published by the European Commission in March of last year makes foreign trade essential for reaching its objectives.
The document recognises the interdependence of the EU economy with the rest of the world and the advantages that come from the fact that the European economy is one of the most open in the world. It recognises the increasing competition between the other developed economies and the emerging ones.
"Countries such as China or India are investing heavily in research and technology in order to move their industries up the value chain and "leapfrog" into the global economy. This puts pressure on some sectors of our economy to remain competitive, but every threat is also an opportunity. As these countries develop, new markets will open up for many European companies" (Note 1).
This is why the Commission has stated that competitiveness is one of the fronts on which to act. The EU has become prosperous through trade, exporting all over the world and importing productive inputs, such as finished products. Intense pressures in international markets now require it to improve its competitiveness. The Commission proposes, as one of the initiatives for implementing these objectives, "an integrated industrial policy for the globalisation era" that in this manner will favour the internationalisation of Small and Medium-sized Enterprises (SMEs).
The report, "Trade, Growth and World Affairs", which the European Commission published in November 2010, confirms how trade policy is fundamental for the success of the Europe 2020 Strategy. Brussels is ready to pursue an "assertive" policy to deal with both the changes that have already occurred and those which will occur in world trade, changes which will probably see China responsible for one third. Furthermore, strategies to reduce barriers that inhibit trade, promote open global markets and create equitable conditions which favour European firms are also presented. The new strategy also suggests close relationships with strategic partners, including the United States, Russia, Japan, India and Brazil, in addition to China, in the facilitation of trade and investment. The European Commission aims to obtain greater reciprocity in access to public markets in emerging countries and is counting on a considerable strengthening of its network of delegations as "contact points" for European enterprises abroad.
With this in mind, this chapter intends to provide an overview of the current state of international trade focusing on the Veneto region; it will also present the trends in demand at world level to see which of Veneto's leading sectors are, or have the potential to become, more competitive compared to the rest of the world, especially compared to the emerging economies.

In the last year world trade has again become one of the most important components in the recovery of the world economy. The volume of international trade grew by about 12% in 2010, recovering some of the ground lost in 2009, when it declined by about 12%. According to the experts of the International Monetary Fund, however, we will have to wait another year to return to the level of international trade for 2008.
Both exports from the most industrialised countries, the volume of which grew by about 8%, and the foreign sales of the new economies, which recorded an increase of about 12%, contributed to this growth in world trade.
Forecasts for the dynamics of world trade confirm that changes in the geographical structure of world exports are underway: the share of trade with developed countries will continue to decline, and the weight of emerging economies will increase. In the coming years, the demand for foreign goods from the countries of the BRIC area (Note 2) will make an important contribution to the recovery of world trade and thus the world economy. (Figure 2.1.1)
In 2010, Italy's national trade balance was approximately -27 billion euro, notably higher than the 5.9 billion euro deficit recorded in 2009. The trade balance with the countries of the EU remained negative and stood at about -7.1 billion euro (-2.8 billion in 2009). Trade with countries outside the EU also had a negative balance, equal to about -20 billion euro, decidedly worse than the deficit recorded in the previous year (-3.1 billion euro). The negative Italian trade balance was due in large part to the deficit in the energy sector (-51 billion euro). This excluded, the national trade balance had a significant surplus (+24 billion euro), even though in decline compared to 2009 (+38.2 billion euro).
The trade balance in the electronics sector was also negative (-20 billion euro), while a positive balance was recorded in the sectors of mechanical goods (+37.8 billion euro), textiles and leather goods (+11.7 billion euro) and rubber and plastic products (+9.5 billion euro).
In 2010 significant increases were recorded both in national exports (+15.7%) and in imports (+22.6%). As for trading partners, there was growth in exports to Russia (+23.2%), Turkey (+42.1%), Switzerland (+18.4%) Germany (+18.4%), the United States (+19.4%), India (+23.9%) and China (+30.2%). For imports, a trend of rather significant increases was recorded in purchases from China (+47.8%), Germany (+17.8%), Spain (+24.1%), Turkey (+16.7%) and the Middle East (+71.8%).
For the principal sectors of the economy, generally there were annual increases. There was an increase of more than 50% in the export of oil products; more modest, even though higher than the national average, were the increases in the exports of metal products and electronics (+21.8% and +20.1% respectively) and chemicals (+26.2%). The principal sector of national exports (the mechanical sector) grew by about 9% for the year.
In 2010 the value of national imports increased +22.6 % compared to 2009 due to the economic activity in all the principal sectors. The major increases were in metal products (+45.6%), electronics (+40.3%), energy (+30.2%) and chemicals (+23.5%). (Table 2.1.1) and (Table 2.1.2)
All geographical areas had a significant increase in the export of goods, with larger increases than the national average for the Islands (+51.7%), due to the surge in the value of sales of refined oil products abroad, as well as for Central (+17.2 %) and Southern Italy (+15.9%). Increases a little below the national average were recorded in both parts of the North (+14.1% in the North West and +15.4% in the North East).
The trends in the last two quarters of 2010, on the basis of quarterly data, highlight the positive variation in exports in all geographical areas; growth was more intense in the third quarter for the North East (+6.4%) and for the North West regions (+5.2%), while for the fourth quarter it was the Southern and Island regions that recorded the most significant increase (+4.2% compared to the previous quarter).
In 2010 Veneto consolidated second place in Italy's regional rankings for the total value of exports (45.6 billion euro, a 13.5% share of the national total). After a decline of 21.5% in 2009, Veneto's export performance in 2010 (+16.3% compared to 2009) was higher than the national average (+15.7%) (Note 3). The trend in the flow of trade in recent years highlights a significant and stable growth in regional exports, but it only partially recovered from the slump in regional foreign sales caused by the steep decline in international trade in 2009. In the first quarter of 2010 regional exports recorded a small increase (compared to the same quarter of the previous year), equal to 2.4%, and went on to exceed 20% in the last three quarters of 2010. (Figure 2.1.2) and (Figure 2.1.3)
The analysis of the trend in exports towards various markets highlights how the increase of exports from Veneto involved primarily the flows toward countries outside the EU (+20% compared to 2009 and a regional share of 40%), with particularly significant increases to the United States (+30.9%), China (+49.8%), Russia (+18.6%), Hong Kong (+34%), Switzerland (+25.9%) and Turkey (+24.4%).
Even though the emerging economies of the BRIC countries still represent a small share of the market, Veneto's exports to the area have recorded a significant increase: +32.2% in 2010.
For the EU (+14% compared to 2009) the most significant increases were recorded for Germany (+17.3%), the United Kingdom (+13.8%), Slovakia (+29%), the Czech Republic (+19.3%), Poland (+20.3%) and Romania (+18.7%). Instead there were slight declines in trade toward Greece (-11.6%) and Croatia (-11.7%). (Figure 2.1.4)
In 2010, an increase in exports was recorded in almost all sectors of economic activity. The leading sector in Veneto's exports remained the mechanical industry (18.9% of regional exports), followed closely by fashion (18%). Some products, such as furniture, jewellery and sporting goods, reached a share of 13.4% of Veneto's exports, while metal products accounted for a little more than 11%.
The largest increases in export turnover were for the industries which, in 2009, had suffered most from the international trade crisis: machinery and equipment (+18.8%), metals (+19.5%), vehicles (+29.8%), agricultural products and foodstuffs (+15.1%) and chemicals (+22.9%). Export turnover also recovered in the Veneto fashion industry: 2010 closed with an increase of +9.9% for textile products, +5% for clothing and +16% for leather and leather products. The sales of electronic goods, however, fell: -1.7% compared to 2009.
Veneto again had a positive trade balance, nearly 8 billion euro in 2010; results were extremely positive in the mechanical sector (a 6.4 billion euro surplus) and other manufactured products - furniture, jewellery, sporting goods and medical supplies (+4.6 billion) -, fashion (+2.1 billion) and electrical appliances (+2 billion). The vehicle sector, however, ran a deficit (-3.6 billion). The regional trade balance by geographical destination had a surplus both toward the EU (+3.2 billion) and the countries outside the EU (+4.6 billion). The trade deficits with East Asia (-1.9 billion) and with China (more than 2.4 billion) remained significant. (Figure 2.1.5) and (Figure 2.1.6)
In 2010 the value of imports to Veneto was about 38 billion euro (10.4% of the national total), an increase of about 24% compared to 2009. The most imported products were those of the fashion sector (16.3% of the regional total and an annual increase of +17.5%), vehicles (15.7%), agricultural products and foodstuffs (12.9%) and metals (12%). The growth in value of imports involved all the principal sectors of the region and the rise was particularly intense for metal products (+45.8% compared to 2009), mechanical products (+24.4%) and electronic products (+83.9%).
The EU continues to be the principal source of imports to Veneto, with a share around 64% of the total (Germany remains the principal partner, accounting for about 24%). The second source is East Asia with 14.1%. Other significant sources are the countries of Eastern Europe (4%) and North Africa (4.3%). Imports to Veneto recorded significant increases, in terms of value, in all the geographical areas examined: +25.4% from the EU, with peaks of more than 40% from the United Kingdom, Spain, Slovenia and Austria; +25.3% from Eastern Europe; and +17.8% from North Africa.
(Table 2.1.3) Vicenza again confirmed its position as Veneto's export capital in 2010; its provincial sales were just over 13 million euro at current prices. It was followed by Treviso and Verona. The exports of the enterprises of Vicenza made up nearly 29% of regional exports, and in 2010 they recorded an annual growth of about 16%, but recovered only part of their pre-crisis value. 
The second-placed province for the value of its foreign sales was Treviso, which accounted for nearly 22% of regional turnover. Treviso is also the province that recorded the lowest growth rate: its export increased by 10.7% on 2009.
Firms from Verona accounted for about 18% of regional exports and recorded an increase slightly below the regional average.
Padova was first for the growth of regional foreign sales: +24.5% compared to 2009, with a figure of around 7 billion euro in 2010. Venezia enterprises exported goods for a value of 3.8 billion euro and their export turnover increased by +15.4% compared to 2009. There were also notable increases in exports from the provinces of Belluno (+19.7% compared to 2009) and Rovigo (+22.9%).
Looking at the overall imports, Verona still imports the largest quantity of goods. In 2010 the value of imported goods reached almost 12 billion euro, equivalent to 31.1% of regional imports, and the rate of annual growth was just over 18%.
About 20% of regional imports were concentrated in the province of Vicenza, equal to about 7.5 billion euro, and the growth of its imports was more than 30% higher than the previous year.
The total value of goods imported to the province of Treviso in 2010 was equal to 6 billion euro. Treviso's share of total imports for Veneto was around 16%, and the province retained third place in the regional rankings for total value of imported goods. In 2010 the enterprises of the province of Padova imported goods for a total value of 5.7 billion euro (+36.2% compared 2009), making up 15.1% of regional imports. Imports by the province of Venezia were equal to 5 billion euro, an increase of 12% compared to the previous year. Belluno and Rovigo recorded an import value of around one billion euro.
Belluno's main exports were optical and medical equipment, 63.3% of the province's exports, an annual increase of about 19%. There were signs of a clear recovery of exports in mechanical goods (+21.7% compared to 2009) and metal goods (+38.1%).
Belluno's enterprises increased exports in all their main markets, with peaks of over 40% to Poland, Hong Kong and Russia. In the US market, the most important for Belluno's goods, export sales increased by +27.2%, to exceed 440 million euro. Exports to China also grew noticeably: +28.8 compared to 2009.
Imports also recorded a positive trend (+21%), going from 715 million euro in 2009 to more than 865 million euro in 2010. This growth was largely due to optical and medical equipment (+20.7 % compared to 2009), electronics (+27.7 %), metals (+24.1%), mechanical goods (+12.7%) and fashion (+24.1 %). These industries increased trade with China (+24.4%), which is ever more clearly the leading supplier of local manufacturing industries.
Foreign trade figures for the province of Padova confirm the recovery of local exports. The three main aggregates of provincial exports all recorded positive trends. Mechanical products increased their impact on total exports (+21.3% on 2009); nearly 30% of the province's foreign sales came from these products. Export sales were also on the rise for other industries (gold, furniture, sporting and medical goods), which recorded an increase of about 14%. Exports in fashion, the province's second biggest sector, also grew: +10.6%.
The European markets were the most active destinations for exports, with increases greater than 40% to Germany, the United Kingdom, Switzerland, Austria, Poland and the Czech Republic. There were also favourable trends with other important trading partners: +21.3% for France, +25.3% for Spain and +19.4% for the United States.
There was again a positive trend in imports involving nearly all the principal economic sectors, with ample growth in metal products (+62.7% compared to 2009), electronics (+110.9%), mechanical goods (+24.2%) and fashion (+28.5%). The negative trend in imports of foodstuffs (-11.5%) and vehicles (-13.4%) continued.
Germany is still the main supplier of Padova's imported goods, with 1.2 billion euro, an increase of +33.7%; it supplies more than 21% of the province's imports. A considerable increase in purchases of Chinese goods (+56.8% compared to 2009) was also recorded. China has become the second leading supplier of industry in Padova (725 million euro, equal to 12.7% of provincial imports) in a few short years.
2010 was also a year of recovery for the trade balance of the province of Rovigo. Local industries again began to sell on international markets, priming in this manner provincial exports, which in 2010 reached the value of 1.1 billion euro, an increase of +22.9% compared to the previous year.
By sector, foreign sales of mechanical products fell (-3.6%), while all the other sectors recorded significant increases, with peaks of over 15% in fashion (+23.8%), electronic equipment (+34.5%), and rubber and plastic articles (+18.2%). The foreign sales of vehicles were in clear recovery even though they only recovered part of the decline recorded in 2009. 
There were considerable increases in exports to all the principal markets: Germany (+22.1%), France (+14.5%), Spain (+14.4%) and the United Kingdom (+18.2%). In addition there was a boom in foreign sales to Libya, which went from 8 million euro in 2009 to 47 million in 2010.
As for imports, the value for foreign purchases of mechanical goods and vehicles decreased, while imports of agricultural produce (+44%), chemicals (+43.1%) and electronic products increased, the latter becoming the leading import sector (+184 million euro compared to 2009). The Netherlands has confirmed itself as the main supplier of Rovigo; in 2010 the value of goods imported from this market exceeded 278 million euro, equivalent to almost one quarter of provincial imports.
Analysing the trend in exports of the principal manufacturing sectors, the main growth in foreign sales was seen in furniture, sporting goods and jewellery (+11.4% compared to 2009), mechanical goods (+27.8%), electrical appliances (+12%) and agricultural produce and foodstuffs (+8.1%). For fashion, the province's leading sector for the value of exported goods (2.1 billion euro in 2010), the negative trend in foreign sales continued (-1.1% compared to 2009). 
The principal foreign markets of Treviso's exports remain Germany (+3.8% compared to 2010), France (+6.4%), Romania (+24.9%), the United Kingdom (+7.4%), and China, which went from 268 million euro in 2009 to 582 million in 2010, to become the third leading market for the province's businesses.
All the principal economic sectors contributed to the growth in the value of Treviso's exports, in particular the metal (+34.3%), wood (+30.7%) and mechanical sectors (+38.6%). The most important sector of provincial imports remains fashion, which accounts for 33% of all imports and in the last year recorded an increase of about 8%. 
As to their geographical distribution, in the last year imports from China increased notably (+27.5%). China is Treviso's leading import partner and accounts for 1.2 billion euro of the province's imports (nearly 20% of its total). Imports also rose from Germany (+52.3%), Austria (+58.3%) and India (+45.6%).
The significant oscillations in foreign sales related to ships and aircraft (563 million euro in 2010, a 14.8% of the province's total) had a major influence on the trend of Venezia's exports.
In the last year the increase in Venezia's exports was due to vehicles (199 million euro more than 2009), metals (+24.7%), mechanical goods (+26.7%), chemicals (+28.8%) and petroleum products (+21.7%). The positive trend in Venezia's exports was partially moderated by a negative trend in the sales of electronic components (99 million euro less than 2009).
Concerning the markets for Venezia's goods, exports increased to the United States (258 million euro more than 2009), which is again the leading trading partner of the province's firms, as well as to Germany (+17.5 %), France (+15.4%), the United Kingdom (+17%), Croatia (+36.4%), the Netherlands (28.5%) and Belgium (+33.5%).
In the last year, the growth of Venezia's imports was generated by the demand for energy (+9.5%), which remains clearly the leading item of provincial imports (1.4 billion euro in 2010, equal to 30% of the provincial total). There were also increases in the fashion sector (+19.8%) and the metal sector (+50.3%). The value of agricultural products also increased: +39.4 % compared to 2009.
Vehicles, on the other hand, registered a decrease in imported goods (-45.3%), largely due to the reduction in imports of aircraft (from 121 million euro in 2009 to 28 million in 2010).
The export trend for the province was positive for 2010 (+15.5%) and involved all the main economic sectors, with increases of more than 10% for the mechanical sector, the province's largest export sector (1.4 billion euro), as well as for food, clothing-leather goods, metal products and vehicles. The most important market for manufactured goods from Verona was still Germany (1.2 billion euro, an annual increase of +15.5% compared to 2009). France retained second place (848 million euro, an annual increase of +17.6%) some way ahead of Spain (+13.4%). Verona's foreign sales also grew in the principal emerging economies: +40.2% in Russia, +17.1% in China, +20.5% in Turkey, +53.2% in India and + 47.3% in Brazil.
Imports to Verona increased by +18.2% in 2010. The province of Verona accounts for more than 30% of the region's imports and this is strongly influenced by the presence of some car importers in the province (4.6 billion euro in 2010, equal to 39.5% of the province's imports). There were also increases in imports of metals (+41.5%), mechanical goods (+26.9%) and chemicals (+50.7%).
The province mainly imported goods from Germany (a provincial share of 43.1% with an annual increase of +10.6%), Spain (+26.3%), France (+16.3%), China (+20.9%) and Belgium (+27%).
In 2010 the growth of provincial exports was driven by the sales of all its leading types of goods, with impressive performance in the sectors of fashion (+18.2% compared to 2009), jewellery (+23.3%) and electrical equipment (+17.9%).
Exports began to grow again to Germany (+18%), which confirmed its place as the leading market for exports from Vicenza (1.7 billion euro, equal to nearly 13% of provincial exports). Exports also increased to France (+11.2%), the United States (+22.5%), Spain (+15.1%) and Switzerland (+39.9%). Consistent growth of Vicenza exports to the markets of the new economies was also recorded: + 29.8% to China, +15.5% to Russia, +30.9% to Hong Kong and +17.3% to India.
In 2010 the province of Vicenza imported 7.5 billion euro worth of goods. Compared to the previous year, imports grew by about 1.8 billion euro, equal to an annual increase of 33%. This growth was driven by the very positive performance of metals (+43.2%), fashion (+36%) and chemicals (+36.3%). Geographically, the most important contributors to this growth of imports to Vicenza were the Netherlands (+46.1%), Germany (+36.3%), Switzerland (+42%), Brazil (+41.6%), Belgium (+35.4%) and India (+54.6%).

The entrepreneurial fabric of Italy is going through a long period of transition The crisis brought to the surface the structural deficiencies of the national economy, and the rapid changes generated by globalisation require the implementation of a strategy that allows Italy's enterprises to be more competitive in international markets. Information concerning international trade flows, by sector and geographical area, may prove to be an interesting tool for defining new strategies for different foreign markets (Note 4). (Figure 2.2.1), (Figure 2.2.2) and (Figure 2.2.3)
Sector trends for the international trade of manufactured goods between 2000 and 2008 make interesting reading. There are five pillars of world trade growth in the period in question: metal-working, automotive, electronics, mechanical and chemicals. From this picture it clearly emerges that the vectors of world trade have excluded several important sectors of Italian industry, moving to sectors in which the market share of both Veneto's and Italy's enterprises is relatively small. The exceptions have been machinery, which represents a large share of Veneto's exports, and metal products, an even more dynamic sector in terms of market growth.
Overall, between 2000 and 2008 Veneto's export sector shifted towards specialised instrumental goods, in which the competitive advantages of Veneto's production remain concentrated in the mechanical and metal sector. Agricultural products and foodstuffs, in particular the wine sector, made a large contribution to the boom in foreign sales by Veneto firms, a trend which was livelier in non-EU markets. The share of Veneto's exports was still marginal in goods with a high technological content (computers, telecommunications, electronics), with a few exceptions in the aerospace sector.
The exports of Veneto enterprises were also relatively specialised in intense price competition sectors (clothing, leather goods, furniture), mostly characterised by a growth in the value of trade inferior to the world trade average. While remaining a world leader in these products, Italy had about 11% of the world market in leather goods (Veneto is estimated to have 3.5%); however, the increasing competition of emerging Asian markets has led to a reduced share in Europe and in the rest of the world in large segments of traditional products, on which a considerable part of Italy's economy still depends. In these sectors Veneto enterprises have to focus on success, not price, in which the twin terms of technology and design play a fundamental role.
In the next few years the areas of growth in international trade will be those of the emerging countries, especially those belonging to or near the BRIC area. These countries will have favourable demographic trends and consistent increases in disposable income; what is more the consumers in these new markets will also be on average younger than those of Western countries. Domestic demand there will tend to increase quickly and the growth of the middle class could become the powerhouse of the world market for luxury goods.
In the last year, the rate of growth of Veneto's exports towards these countries was greater than the regional average and their share of total regional exports surpassed 7% (in 2000 it was only 3%). Russia and China were still the most important markets of the area, with a share of nearly 3% of regional exports each. Trade with Brazil and India was still little developed, as Veneto firms are still scarce in these markets. Exports to India increased, but exports to Brazil fell. (Figure 2.2.4), (Figure 2.2.5), (Figure 2.2.6) and (Figure 2.2.7)
The sluggish performance in several expanding markets could slow the recovery of exports, so greater efforts by the enterprises to take advantage of the opportunities in countries with better prospects for growth appear to be necessary.
If we analyse Veneto's exports to the BRIC area between 2000 to 2008, we note that there are two sectors that have been driving growth: the mechanical sector, which generated about 32% of growth, and fashion, with flows directed mainly to Russia. These two sectors contributed nearly 50% of the increase in foreign sales by Veneto's enterprises to BRIC-area countries.

In 2009, the most recent year for which data are available, the analysis of exporting firms in Veneto concentrates on the effects of the crisis. In 2009 there were 25,397 Veneto businesses that exported to international markets. The global economic crisis led to a reduction in Veneto's active export businesses; between 2008 and 2009 they decreased by approximately 2,700 units, equal to -9.1%.
The crisis in world trade contributed to a large number of small firms leaving the market, but it was the performance of large exporters that most felt the grim effects of the global recession. In 2009 the decline in the value of exports suffered by the leading one hundred firms (in order of value of exports) was equal to -24.4%, 3% more than the regional average (-21.5%). There were 21,415 firms in Veneto (84.3%) that had foreign sales of less than one million euro, and their share of Veneto's exports was 6.1%, about 1% more than in 2008. The number of the largest firms, i.e. those with more than 20 million euro in sales, went from 459 to 367 in one year, and their relative weight in terms of the value of exports fell by nearly 4% (from 57.7% in 2,008 to 54.1% in 2009). (Figure 2.3.1) and (Figure 2.3.2)
The 2008 crisis stopped the growth of exports by large businesses: between 2004 and 2008 the weight of regional foreign sales by large exporters increased by nearly 6%, almost 60% of regional exports.
Regional recovery will depend on the ability of these large businesses to reposition themselves in international markets, especially in emerging ones, and on their propensity to focus on producing goods with a higher added value, where competition is centred around factors other than price.
Despite the crisis in international trade, sales are ever more correlated to the number of export destinations. In 2009 just over 650 firms in Veneto exported to at least ten geo-economic areas (Note 5), generating nearly 40% of Veneto's exports; 57.8% of firms, however, exported to a single geo-economic area, primarily in the EU, which means a commercial dependence on a market where the margins for growth appear to be slight.
In 2009 only one in four Veneto firms exported to at least one of the BRIC-area countries, and there are only 245 Veneto exporters in all four markets simultaneously. Veneto's major exporters in these areas were able to better deal with reduced demand from these countries, contrary to regional exporters overall; the leading one hundred exporters to the BRIC area recorded a drop in export value equal to -4.2% compared to -20.2% recorded by Veneto businesses in the BRIC area on the whole.
The size of a firm, also achieved through an ability to create new forms of aggregation, thus seems to be the most reliable way to rebuild growth in trade in the region and to relaunch competitiveness in foreign markets, especially those geographically farthest away. (Figure 2.3.3)
The principal market of the BRIC area, both by the value of exports and by the number of firms, was still Russia, in which almost 4,400 Veneto firms were present. The decline in demand for imports to Russia caused a considerable decline in the number of firms compared to previous years (about 1,000 fewer compared to 2007). However, this did not affect the most important firms, that is the four with more than 20 million euro in exports; in 2009 these four businesses generated nearly 14% of Veneto's exports to Russia (in 2007 they accounted for about 8%).
The crisis in world trade in 2009 did not harm Veneto's firms operating in China (2,070 in 2009); although recording a slight drop in number (40 fewer than in 2008), they saw, however, an increase in the volume of exports to the Asian colossus. In addition, the number of large-sized firms rose from 6 in 2007 to 8 in 2009 and they generated more than 28% of Veneto's exports to China (20.8% in 2007).
In 2009 just over 1,500 Veneto firms exported to India, while 1,266 exported to Brazil. Veneto's exports were still not very strong in either market: none of Veneto's firms had sales that exceeded 20 million euro and there were less than ten Veneto firms which had trade greater than 5 million euro. Veneto firms therefore need to build more solid trade networks to strengthen their presence in what will be the powerhouses of future growth in international trade.