Compared to the rest of Europe, Made in Italy, with its exporting companies—primarily metallurgy and pharmaceuticals—remains resilient on foreign markets. It is able to weather the shockwaves caused by global tensions, the weak dollar, trade obstacles (not only American ones), and increasingly sluggish demand in Europe. In January, when the war in the Persian Gulf had not yet begun, Italian exports remained relatively stable, with a monthly correction of -0.1%. This figure compares with -7.6% for Europe overall, and -28% toward the United States alone. Italy's trade surplus in January 2026 was €1.089 billion (-€288 million from January 2025), while the energy deficit (€3.466 million) was over €1 billion lower.