MILAN, Jan 30 (Class Editori) — Last December, Italian exports to China weakened gradually (-9% over the 12 months), in sharp contrast to the general trend (+11%) strongly influenced by energy purchases (+30%), according to data released by the Italian National Institute of Statistic (Istat).
However, the good resilience of exports on a year-on-year basis of 18.2% allowed a strong trade surplus worth 13.3 billion euros (compared to 9.2 billion euros in December 2021), net of energy products.
Non-EU markets were the main drivers for exports last December, in particular Turkey (+38.4%), Mercosur countries (+33.8%), Switzerland (+24.5%), the US (+22.4%), and Japan (+22.0%), while the drop toward Russia was 27.7%, a figure that was however unexpected given the sanctions in place towards that country.
Purchases from OPEC countries (+75.8%), India (+44.0%), Switzerland (+39.7%), and the US (+37.2%) registered much larger increasing trends than average imports from non-EU-27 countries.
“In 2022, exports to non-EU countries registered growth of 20.2%, one-third explained by increased sales of non-durable goods, while imports have recorded a much more pronounced growth (+54.3%) and almost two-thirds due to higher purchases of energy products,” a note from Istat pointed out, noting that 2022 closed with a trade deficit exceeding 25 billion euros, caused largely by the jump in energy prices, compared with a surplus of about 38 billion in 2021.
(Source:Class Editori)
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