Since 2022, Sardinian businesses have been hit by wars, energy crises, trade tensions, and rising interest rates, amounting to nearly €4 billion. This represents a devastating blow to the regional economy, impacting residents, businesses, and development for the past five years. These figures emerge from an analysis by the Research Department of Confartigianato Imprese Sardegna on the impact of geopolitical shocks on Italian regional production systems, based on data from Istat, Mase, Terna, and the Bank of Italy.
The €3.866 billion impact on the island's economy, equivalent to 1.80% of the average annual GDP over the five-year period, includes three components: higher energy import costs, higher financial burdens borne by businesses, and lower exports to markets affected by international tensions. This impact is lower than the Italian average of 2.71%, and slightly lower than that of Southern Italy, which is 1.87%. On the island, 72.4% of the economic impact is attributable to higher energy import costs, compared to the national average of 44.1%. Financial burdens account for 19.6%, while lower exports account for 8%. This exposure once again highlights how energy costs affect the competitiveness of Sardinian businesses, particularly smaller ones, which are less able to absorb increases in production costs.
"These numbers tell us that Sardinian businesses are facing economic pressure that isn't the result of their own choices, but rather from a succession of international crises that are directly impacting their balance sheets," comments Giacomo Meloni, president of Confartigianato Imprese Sardegna . "The figure that concerns us most is the impact of energy, which on the island accounts for over seven-tenths of the overall impact. For a small business, an increase in their energy bill isn't simply an additional expense: it means fewer resources to purchase machinery, hire staff, innovate, and plan for the future . We can't ask small businesses to tackle an energy transition alone, as it risks becoming a further competitive disadvantage. a more balanced tax system, and accessible financial tools to invest in efficiency and self-generation."
