ROME — Italian exports to Mercosur countries reached €745 million in May 2026, up 21.1% from the same month a year earlier.
The ISTAT figures coincide with the entry into force of the EU-Mercosur agreement, offering an encouraging early signal for Italian companies operating across the region. But the coming months will be key to assessing how broad and durable the increase is.
- ISTAT, Istituto Nazionale di Statistica ( the Italian National Institute of Statistics) is the public research organization responsible for official data collection and census in Italy.
Why it matters: The rise comes as diversifying export markets has become a strategic priority, amid growing pressure from tariffs globally.
- Brazil remains by far Italy’s largest export market within Mercosur, while Uruguay and Paraguay recorded the sharpest percentage increases.
- From Sept. 7 to 11, Confindustria will lead a business mission to Argentina and Brazil aimed at strengthening economic ties and exploring new opportunities for Italian companies.
By the numbers:
- Brazil: €582 million, +22.3% year over year.
- Argentina: €111 million, +0.6%.
- Uruguay: €37 million, +72.2%.
- Paraguay: €15 million, +95.6%.
Zoom in: Brazil. Brazil accounts for the overwhelming share of Italian exports to Mercosur: €582 million out of the €745 million total recorded in May.
- Its 22.3% year-over-year increase also makes Brazil the main driver of the rise in absolute terms.
The regional angle. Uruguay and Paraguay start from much smaller volumes but posted the strongest percentage increases, at 72.2% and 95.6%, respectively.
- The figures point to strong trade momentum in both markets during the agreement’s first month in force, while exports to Argentina were broadly stable, rising just 0.6%.
The big picture: For Italian companies, Mercosur is also becoming a test of a broader push to diversify export markets at a time of mounting global tariff pressures.
- May’s figures show positive momentum coinciding with the start of the EU-Mercosur agreement. One month of data, however, is not enough to determine how much of that growth can be attributed to the new trade framework — or whether the pace can be sustained.
What we’re watching: The next step comes Sept. 7-11, when Confindustria will take a business delegation to Argentina and Brazil to strengthen economic relations and explore new opportunities for Italian companies in Mercosur markets.
- The more important test will come from trade data over the next few months. They will show whether May’s jump marks the beginning of a broader expansion of Italian exports to the region or a more limited acceleration.
