MILAN, Aug 12 (Class Editori) – During June, the surplus in the Italian trade balance grew by 554 million – going from the 5,174 million of June 2018 to the current 5,728 million. During the first six months of 2019, trade surplus reached 22 billion euros (+42.4 billion net of energy products). The ISTAT, the Italian national institute of statistics, noted that the circumstantial growing trend characterizing Italian exports for four months has continued during June as well.
Exports are up 1.2% against May results, while imports decreased by 2.1%. The growth in exports depends on an increase in sales performed in non-EU countries (+3.9%), while shipments headed for the EU lost 1%. Meanwhile, during the second quarter both trade fluxes increased, with a better performance of exports (1.7%) against imports (1.2%).
On a yearly basis, exports lost around 3.5%, due to the drop in sales in both the EU (-4.6%) and the non-EU (-2.1%) areas. Similarly, imports are still decreasing (-5.5%) in the same regions, with a -6.1% and a -4.7% respectively. Among the sectors contributing to the current circumstances: transport means, except for cars (-26.4%); metal products, excluding heavy machinery and plants (-5.9%); refined oil products (-14.5%); and cars (-8.3%).
Conversely, the products contributing to the positive results are: pharmaceutical, chemical-medicinal, and botanical (34.5%). The countries contributing the most to the decrease in exports are Germany (-8%), Switzerland and the OPEC countries (both -13.5% ), France (-3.8%). Meanwhile, the US (+4.1%) and Japan (+27.9%) registered an evident increase.
During the first six months of the year, the exports growth (+2.7%) depended on pharmaceutical, chemical-medicinal, and botanical products (+28%), textiles & clothing, leather, and accessories (+7.3%), food, drinks, and tobacco (+6.9%). ISTAT explained that the year-on-year decrease in exports depends on the contraction of capital goods which, in 2018, had registered a good trading flow with an high impact.
In the same period, exports have also reported a trend growth of 2.7% – translatable, in terms of value, in a 0.9% volume decrease due to a continued increase in average prices (+3.6%).
(Source:Class Editori)
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