Foreign trade data for the first quarter of 2026

Comment by President Mario Pozza

In the first quarter of 2026, according to data released by Istat, exports from the province of Treviso exceeded 3.7 billion euros, recording a slight year-over-year decline of -2.2% (approximately 84.2 million euros less than last year’s sales) – comments Mario Pozza, President of the Treviso and Belluno|Dolomiti Chamber of Commerce. – For Belluno, the result at the start of this year is nearly flat (-0.8%).

Looking at the data by sector – the President continues – we observe that a large part of the decline in Treviso’s exports is driven by household appliances, a sector that, as is well known, has been affected by specific corporate reorganizations: the change for the first quarter is -10.3% (meaning a decrease in exports of -36.1 million). The provincial figures are also affected by the decline in furniture (-5.0%; -21.3 million), a sector suffering not only from persistent weakness in global consumption but also from the impact of tariff barriers and geopolitical instability. Exports are down slightly for machinery (-1.8%; -11.9 million) and footwear (-2.8%; -8 million), but sporting goods buck the trend with a 3.3% increase.

Beverage exports, which for Treviso essentially mean Prosecco, remain virtually stable compared to last year (+0.5%). This figure, however, reflects the expected slowdown in the U.S. market. In the current quarter, exports to the U.S. are down by -7.3%; in the same period last year, due to front-loaded demand, sales had increased by +28.9%.

Food exports, on the other hand, continue to grow (+17.2%, equivalent to an increase of +27.1 million euros), with this positive trend extending to the Belluno area as well (+13.4%). In both provinces, the sector’s expansion involves both the European Union market, which accounts for three-quarters of sales, and the non-EU27 region.

For Belluno – as Pozza explains – the overall change in exports is nearly flat (-0.8%). However, this result reflects the average of the varying trends across the province’s main sectors. On the one hand, machinery remains steady (+1.5%), and the electronics, medical equipment, and measuring instruments sector is growing exponentially, with exports rising from 36.6 million euros in the first quarter of 2025 to the current 97.6 million. On the other hand, the eyewear sector has declined by -6.9%.

The decline in this sector is linked to a drop in sales to the United States, which fell by 34.5% year-over-year in the first quarter of 2026 (equivalent to a decrease of approximately 57 million euros). Beyond the structural reasons for the decline in exports, which have already been analyzed in previous reports, the current composition of provincial eyewear trade flows shows a contraction of the U.S. market: its share fell from 24.5% in the first quarter of 2024 to 11.5% in the first quarter of 2026 (equal to the share held by the French market).

Growth in electronics and medical equipment, on the other hand, is likely attributable to two factors: the evolution of the refrigeration sector toward greater integration with “smart” control systems, and the probable inclusion of “smart glasses” among customs codes referring to products with a strong electronic and connectivity component.

This – concludes Pozza, also in his role as President of Assocamerestero – is the overview that emerges from the data: a scenario in which the first effects of new geopolitical tensions and tariff barriers are also beginning to be felt. For this reason as well, it becomes essential for our companies not to rely on a single market but to diversify their export strategies, a process that we continue to encourage. A concrete example of this commitment was the SME Forum and the Southeast Asia Forum held in June at Castelbrando: strategic opportunities for dialogue, organized by the Treviso-Belluno|Dolomiti Chamber of Commerce in collaboration with Venicepromex, to guide businesses toward new opportunities for international growth.

Exports from the Province of Treviso 

In the first quarter of 2026, the province of Treviso exported goods for a total value of over 3.7 billion euros, representing a decrease of -2.2% year-on-year. This variation corresponds to lower sales for the period of nearly 84.2 million euros.

An analysis by sector shows that a large part of the decline is driven by domestic appliances (-10.3%; -36.1 million), which, as is well known, were affected by specific corporate reorganizations. The export balance of Treviso is also impacted by the negative performance of furniture (-5.0%; -21.3 million), alongside a slight decrease in industrial machinery (-1.8%; -11.9 million) and footwear (-2.8%; -8 million, although sports goods show a positive counter-trend, +3.3%). Beverage exports remained stable (+0.5%). A positive contribution came from food products (+17.2%; +27.1 million). Among the main provincial items, a recovery was also noted for textiles and clothing (+2.2%, compared to a -9.7% decline in the first quarter of 2025).

These results are, in turn, an average outcome of differing geographical dynamics. The main findings are outlined below, keeping in mind that, as with Veneto as a whole, variations for Treviso may be amplified by the short time horizon considered.

For domestic appliances, the third-largest item in provincial exports, the -10.3% decline extended to both sales within the European Union (-7.2%) and to the Non-EU27 area (-15.4%). The bulk of the intra-EU decrease was concentrated in the French and Austrian markets, but significant reductions were also observed towards Belgium and Poland. Germany, the primary reference market, saw a partial recovery (+8.0%). For the non-EU area, the decline was distributed across Saudi Arabia, the United States, the United Kingdom, and China and Hong Kong.

Furniture, the second-largest item in Treviso’s exports, suffered a -5.0% decline, feeling the effects of persistent weakness in international consumption, coupled with tariff barriers and geopolitical tensions in the Middle East. The decline was more pronounced in the EU market (-6.5%): for this area, much of the drop is attributable to Germany (-13.0%) and France (-6.9%). Sales also decreased towards the Non-EU27 area (-2.4%, with declines mainly in the United States, the United Arab Emirates, and China and Hong Kong). The United Kingdom and Canada showed a positive counter-trend.

For machinery, the leading item in Treviso’s exports, the slight decrease of -1.8% was determined by a drop in sales to the Non-EU27 area (-7.6%). The bulk of the decline was concentrated in the United Arab Emirates, China and Hong Kong, and Mexico, though for all these markets the comparison is with a period (first quarter of 2025) of strong sales expansion. Machinery exports also fell towards Turkey and the United States, while they increased towards Brazil and recovered towards the United Kingdom. The intra-EU export balance was positive (+2.8%), thanks to sales to Northern Europe and Greece. Exports to Germany and France remained stable, while the Spanish market showed a negative counter-trend.

Regarding footwear, the -2.8% drop is attributable to the contraction in most Non-EU27 markets (an area that recorded an overall decline of -20.2%). Conversely, sales within the European Union grew by +3.2%, driven primarily by the strengthening of the German, Austrian, and Czech markets.

As previously mentioned, exports of sports goods, which, together with technical footwear, represent the core activities of the Sportsystem, showed a positive counter-trend, increasing by +3.3%. This positive balance was supported by the excellent performance of intra-EU markets, which grew overall by +21.4%. On the other hand, the Non-EU27 area suffered a decline of -19.9%, heavily impacted by lower sales to the United States. This latter contraction was likely amplified by the comparison with the first quarter of 2025, a period that saw increased sales due to early deliveries in anticipation of tariff introductions.

Beverage exports remained stable during the period (+0.5%), thanks to recoveries towards the Czech Republic and Russia. As expected, the US market declined, given that the comparison is with a first quarter of sharp growth due to advanced demand in anticipation of tariff introductions. Sales to the US grew by +28.9% in the first quarter of 2025, whereas in the quarter under review, they fell by -7.3%.

In contrast, the trend was heavily positive for food products (+17.2%). The increase was mainly driven by the intra-EU27 area (+16.2%), which absorbs nearly three-quarters of the province’s sales in this sector. Within this area, all major markets grew, with the exception of France, where sales remained nearly in line with last year’s figures (-1.8%). Exports also showed positive dynamics towards the Non-EU27 area (+20.2%), benefiting above all from a recovery in the United States and stronger sales to China and Hong Kong.

Possible signs of recovery emerged from textiles and clothing (+2.2%), reversing a negative trend of -9.7% recorded in the same period last year. Within the European Union (+2.0%), the balance at the start of the year was positive for the top two markets, France and Germany. Regarding the Non-EU27 area (+2.5%), exports were driven primarily by Switzerland: sales surged from 5.5 million in the first quarter of 2025 to the current 24.8 million. The Swiss market has thus become the leading commercial outlet for the area at the start of this year.

Finally, the substantial stability of exports of means of transport and automotive components (-0.9%) is the average of two opposing dynamics. On one hand, there was a drop in sales within the European Union (-3.3%), penalized mainly by the French, Bulgarian, and Slovak markets. On the other hand, exports to the Non-EU27 area increased by +5.0%, driven by positive performances in Turkey and Serbia. The British market showed a negative counter-trend.