MILAN, Dec. 21 (Class Editori) – Last November, a strong upsurge (+35%) in the Italian export to China was recorded and also purchases from China increased, but at a lower rate (+14%). This data is even more significant because it shows a trend reversal compared to the performance of the first nine months, when export toward China had decreased by 8% to €8.7 billion on annual basis, with a still strongly negative balance of trade (15.6 billion).
The export trend data to China is the most significant one concerning Made in Italy exports to the extra-EU markets, which highlight, however, an improvement to the countries of Latin America, the Mercosur market (+17%), followed by Switzerland (+12.8%) and the USA (+4.7%).
Made in Italy sales to OPEC countries (-20.9%), Japan (13.3%) and Russia (-4.0%) have decreased, instead.
In terms of imports, a drop in purchases from Russia (-47.4%), India (-14.8%), the UK (-13.4%), Turkey (-13.2%) and the USA (-12.0%) has been recorded with much broader trend contractions compared to the average imports from the extra-EU27 countries.
In November 2020, it is esteemed that export has grown by 3.1% on a monthly basis and by 1.4% on annual basis in the extra-EU area, net of the UK. Import records an increase by 3.3% on a monthly basis and a drop equal to -6.4% year-on-year. According to this data, the extra-EU foreign balance of trade has amounted at €6.67 billion, with a growth higher than 20% compared to November 2019.
The increase in export on a monthly basis concerns all the main industries, with the exception of capital goods (-2.4%), and is mainly due to the growth in intermediate goods' sales (+5.7%) and non-durable consumer goods (+5.0%). As for imports, strong increases in capital goods (+15.1%) and durable consumer goods (+8.7%) are recorded. Energy purchases are decreasing (-6.3%).
The export trend has come back to a positive territory (+1.4%) in November on annual basis, after the negative peak in October (-9.7%), thanks to the increase in the sales of durable consumer goods (+7.7%), intermediate goods (+7.2%) and capital goods (+4.9%). Import has recorded a lower contraction (-6.8%, compared to -12.4% in October): this is mainly due to a strong increase in intermediate goods' purchases (+15.3%) on annual basis, which partially counterbalances the drastic drop in energy imports (-47.4%).
(Source:Class Editori)
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