Italy’s trade with non-European Union (EU27) countries recorded a cyclical reduction of 3.5 per cent month on month (MoM) in exports and an increase of 1.1 per cent MoM in imports in October this year, official statistics show.

The monthly decrease in exports concerns all the main industrial sectors, with the exception of durable consumer goods (plus 8.6 per cent). The largest reductions were recorded for energy (minus 10.7 per cent) and capital goods (minus 7.4 per cent).

On the import side, with the exception of intermediate goods (minus 4.3 per cent), widespread cyclical increases of varying magnitude were recorded: energy (plus 8 per cent), capital goods (plus 2.5 per cent), non-durable consumer goods (plus 0.7 per cent) and durable consumer goods (plus 0.1 per cent).

Between August and October this year, exports reduced by 0.2 per cent quarter on quarter (QoQ) to which the decline in energy sales (minus 18.1 per cent) and capital goods (minus 4 per cent) contributed.

In the same period, imports showed a slight increase (plus 0.3 per cent), explained by the greater purchases of durable (plus 5.4 per cent) and non-durable (plus 0.6 per cent) consumer goods and intermediate goods (plus 1.8 per cent), a release from the official statistical agency Istat said.

In October, exports to non-EU27 nations decreased by 1.1 per cent year on year (YoY); it fell by 1.4 per cent in September. The decline is determined by lower sales of energy (minus 57.4 per cent) and capital goods (minus 10.5 per cent). Instead, exports of durable consumer goods (plus 37.7 per cent), intermediate goods (plus 4.9 per cent) and non-durable consumer goods (plus 4.5 per cent) increased.

Imports recorded a trend decline of 4.1 per cent YoY in October, almost entirely explained by the contraction in energy purchases (minus 24.3 per cent).

This October, Italy’s trade surplus with non-EU27 countries was 5,709 million, it was 5,089 million in the same month last year.

In October, there were large YoY reductions in the country’s exports to OPEC countries (minus 16.9 per cent) and the United States (minus 11.8 per cent). Exports to Turkiye (plus 33 per cent), ASEAN countries (plus 15 per cent), MERCOSUR countries (plus 12.2 per cent) and the United Kingdom (plus 8.7 per cent) increased.

Italy’s imports from OPEC countries (minus 33.9 per cent) showed a large trend contraction. Those from from the United Kingdom (minus 4.4 per cent), the United States (minus 3.2 per cent) and China (minus 2.1 per cent) also decreased.

On the other hand, imports from the other main non-EU27 partner countries increased, with the largest trend increases for MERCOSUR countries (plus 21.9 per cent) and India (plus 11.2 per cent).

Fibre2Fashion News Desk (DS)

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