Tullio Buccellato, Gianluca Santoni, Daria Taglioni

Made in Italy in the Aftermath of the Covid-19 Pandemic

  • Abstract

Informations and abstract

Keywords: Made in Italy, bello e ben fatto, pandemic crisis, consumer goods, export, competitiveness

The Covid-19 crisis had a propelling effect on ongoing trends, causing a leap in the speed of social and, by extension, economic transformation. The effects of the pandemic did not spare bello e ben fatto (Bbf, it stands literally for «beautiful and well-made goods»). The products included in the Bbf are those final consumer goods that Italy exports with high average unit values or which, at similar price levels, Italy exports in significantly higher quantities than its main competitors. Although not affected as some service sectors (e.g. Tourism and Catering), Bbf goods were severely hit by the crisis. Fashion-related sectors were among those that bore the brunt of both the direct effects (repeated closure of related businesses, the ban on trade fairs, and problems related to travel) and the indirect effects (constraints on mobility and social life) on the change in habits following the Covid-19 pandemic. In addition, the high level of uncertainty and the general slowdown in world demand have not helped exports of consumer goods as a whole, although it is surprising that some Italian-made products continued to grow in 2020, such as the nautical industry, which has been particularly resilient.

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