Despite significant trade tensions, Italian goods exports in 2025 were €643.2 billion, a 3.3% increase over 2024. The trade surplus is over €51 billion, up 5%. This is stated in the article "Italian Exports: Navigating Trade Wars and International Tensions" released by Coface, a global leader in credit insurance and commercial risk management. The pharmaceutical business contributed significantly to overall export growth in 2025, continuing a trend that began in the first half of the year. The pharmaceutical sector experienced a yearly increase of +28.5%, led by sales in the United States (+10 percentage points), followed by France (+6 percentage points) and Spain (+5 percentage points). Metals, food, and transportation all experienced strong growth (+9.8%, +4.3%, and +4.1%, respectively). Exports to major economic partners—the United States, the European Union, and Switzerland—are rising again, following a halt in flows from Italy in 2024. The increase in exports to France (+5.3%), Spain (+10.6%), and the United States (+7.2%) is mainly due to demand for pharmaceutical items, whilst the increase to Germany (+2.4%) is primarily due to cruise ships. Given the market's potential, the significant decline in exports to China (particularly machinery, clothing, and leather products) is concerning.