(Finance) – “In August there was a contraction in sales in the non-EU area of -7.4% which led the period between January-August to record a slight increase of +0.8% (after January-July 2024 at +1.8%), compared to the same period of 2023. However, it should be noted that foreign sales in the month of August 2023 were marked by orders relating to shipbuilding towards the United States and net of these movements, the trend decline in exports in August 2024, compared to the same month of the previous year, is considerably reduced, recording a more contained -1.8%. The trade balance is growing strongly, reaching 40 billion, almost double compared to the 15 billion more in January-August 2023″. So the President of ICE Agency, Matteo Zoppas, regarding the non-EU export data for August 2024 released today by Istat.
“What remains firmly the same, as the months pass, it is the structural fluctuation of the markets and global commercial dynamics that does not allow us to make certain medium-long term forecasts. At the level of production sectors, the increase in non-EU exports in August 2024 compared to July is due to the greater sales of durable (+12.7%) and non-durable (+5.8%) consumer goods, while exports of energy (-9.0%), capital goods (-2.8%) and intermediate goods (-2.5%) decreased. Compared to August 2023, however, contributing to the decline are lower sales of energy (-38.0%) and capital goods (-21.8%), while exports of durable consumer goods are growing (+24.9% ) and non-durables (+3.5%) and intermediate goods (+1.1%)”.
“At the country level in August 2024 (compared to August 2023) it weighs, as mentioned, the decline in exports to the United States (-23.1%) caused by shipbuilding orders; Sales to China (-7.6%), Japan (-7.0%) and the United Kingdom (-5.6%) also decreased. Also on an annual basis, exports to Türkiye (+17.2%), ASEAN countries (+10.2%) and OPEC countries (+9.4%) are growing.
In this context, the fact that Italy was the only country which, at a time when the world market was slowing down, increased its export, confirming the overtaking of Japan and becoming the fourth exporter in the world is a sign of the strength of our companies and the high added value of products made in Italy”.
“Certainly the geopolitical situation with the ongoing tensions and war conflicts, which are further worsening in these last hours, makes the context even more uncertain with possible repercussions also on trade, so such as the approaching elections in the USA which have put demand and consumption on stand-by in one of our main reference markets”.