(Finance) – Despite the decline in December, the export dynamics in the fourth quarter of 2021 are positive in comparison with the previous quarter. TheIstat underlining that on an annual basis, exports recorded strong growth (+ 16.2%), sustained above all by trade with the countries of the EU area.
Overall in 2021, exports are in strong expansion (+ 18.2%) and rises to levels above those of 2019. The increase in exports in value is the synthesis of large increases in both average unit values (+8 , 3%) and volumes (+ 9.1%), and is explained for more than 7 percentage points by the increase in sales of intermediate goods. Imports increased by 24.7% in 2021.
For the import prices, the new economic upturn in December is due in particular to the dynamics of consumer goods and intermediate goods. On average in 2021, prices show a 9% growth, the highest since 2005, ie since when the historical series of the index is available; net of energy, prices rose by 4.7% on average for the year.
In December, the statistical institute estimates a cyclical decline for exports (-1.1%) and an increase for imports (+ 7.5%). The decline in exports on a monthly basis is mainly due to the drop in sales to the non-EU area (-2.1%) while the decrease in sales to the EU area is limited (-0.2%).
In the last quarter of 2021compared to the previous one, exports grew by 2.4%, imports by 7.5%.
In December, exports increased by 16.2% on an annual basis; growth is more sustained in the EU area (+ 20.1%) than in non-EU markets (+ 12.7%). Imports recorded a more marked trend increase (+ 37.2%), which involves both the EU area (+ 31.5%) and, to a much greater extent, the non-EU area (+ 45.9% ).
The sectors that contribute most to the trend increase in exports include: refined petroleum products (+ 82.2%), chemical substances and products (+ 22.5%), pharmaceutical, chemical-medicinal and botanical articles (+21 , 4%), food products, beverages and tobacco (+ 16%), base metals and metal products, excluding machinery and plants (+ 12%) and machinery and appliances nec (+ 6.5%). Sales of motor vehicles are down (-1.5%).
Every year, the countries that provide the greatest contributions to the increase in national exports are the United States (with an increase of 32.5%), Germany (+ 18.1%), France (+ 15.3%), OPEC countries (+ 32.0%) and Belgium (+ 31.4%) . Sales to the United Kingdom (-10.2%), ASEAN countries (-7.6%) and MERCOSUR countries (-3.8%) decreased.
Overall in 2021, exports recorded a growth of 18.2%, more sustained towards EU countries (+ 20%) than non-EU markets (+ 16.3%), and mainly driven by the increase in sales of base metals and metal products, excluding machinery and plants (+ 26%), machinery and equipment nec (+ 14.7%), refined petroleum products (+ 70.5%), substances and chemicals (+ 19%) and means of transport, excluding motor vehicles (+ 19.5%). Only the export of pharmaceutical, chemical-medicinal and botanical items is decreasing (-2.2%).
The estimated trade balance in December 2021 is equal to +1,103 million euros, down compared to December 2020 (+6,790). In the year 2021, the trade surplus reaches +50,416 million (from +63,289 in 2020) while the surplus in the trade of non-energy products reaches +89,452 million (it was +85,656 in 2020).
In December 2021 i import prices they grew by 0.9% on a monthly basis and by 15.6% on an annual basis.