MILAN, Oct. 28 (Class Editori) - September has been an excellent month for Italian exports, driven by extra-EU markets. The extra-EU foreign trade balance has almost doubled to €5.3 billion, compared to 2.4 of the previous year; the surplus of non-energy products has particularly increased, up to 7 billion (5.9 in 2019).
As for trade interchange with the Extra-EU27 countries, ISTAT data have recorded a strong increase in exports (+8.3%) and a slight decrease in imports (-2.7%).
The Chinese market, in particular, has recorded the highest growth rate in Italian exports (+33% on annual basis), followed by the Mercosur markets (Latin America +16.1%), Switzerland (+15.7%), Turkey (+13.8%) and the USA (+11.1%).
In 2019, interchange with China reached 13 billion of exports and 31 billion of imports; in the first seven months of this year, instead, export toward China experienced a drop by almost 15%, to 6.6 billion. Imports, instead, are stable.
Italian purchases from Russia (-41.8%), India (-30.7%), Turkey (-16.1%), the USA (-15.8%) and the UK (-15.4%) have decreased: these trend contractions are much higher than the imports’ average from extra-EU27 countries. Purchases from OPEC countries have increased (+6.3%).
In September 2020, it was expected that exports would increase by 10.5% on monthly basis and by 3.7% on annual basis as for the extra-EU area, net of the UK.Import has recorded a slight decrease during the month (-2.5%) and a wide contractionduring the year (-12.2%). The trade balance is equal to +3,974 million (it was +1,524 million in September 2019).
The increase in exports on monthly basis is extended to all the main industry groups and in particular due to the increase in capital goods’ (+11.5%) and intermediate goods’ sales (+10.6%); the main energy sales (+12.6%) have given, instead, a verylow contribution (0.2 percentage points). In terms of import, economic drops for all the groups have been recorded, the greatest for consumer durables (-12.1%) and intermediate goods (-4.2%); only energy purchases are increasing (+4.2%).
In the July-September 2020 quarter, compared to the previous one affected by almost one month and a half of lockdown, export recorded an increase by 34.0%, the result of strong increases which characterized all the main industry groups, the highest for consumer durables (+85.7%), capital goods (+47.6%) and energy (+32.6%). In the same period, the increase in import (+17.5%) involved almost all the groups and it washigher for consumer durables (+66.7%) and energy (+26.7%).
The purchase of not consumer durables is slightly decreasing (-2.0%). In September 2020, export recorded a growth on annual basis by 3.0%, to which the increase in capital goods’ (+11.1%) and intermediate goods’ sales (+6.3%) has contributed. Import, instead, has still recorded a wide contractioneven though it is lessening (-12.4%, from -16.6% recorded in August), mainly due to the strong drop in energy sales (-46.7%). On annual basis, intermediate goods’ sales are increasing (+11.1%).
(Source: Class Editori)
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