Istat, October trade balance in surplus of 5.1 billion euros

Export record performance for Italy 37 in 2024 it

(Finance) – In October 2024 Istat estimated a larger economic downturn for exports (-1.9%) compared to imports (-0.3%). The monthly decrease in exports is marked for non-EU markets (-3.2%), limited for the EU area (-0.7%). In the August-October 2024 quarter, compared to the previous one, exports grew by 0.6%, imports by 1.1%.

In October 2024, exports will grow by 1.6% on an annual basis terms monetarywhile it is almost stationary in volume (-0.1%). The growth in exports in value is the synthesis of an increase for EU markets (+3.7%) and a moderate decline for non-EU markets (-0.7%). Imports recorded a modest growth trend in value (+0.4%), the synthesis of an increase in the EU area (+3.9%) and a contraction in the non-EU area (-4.0%) ; in volume, imports increased by 1.2%.

Between the sectors which contribute most to the trend growth in exports include: sporting goods, games, musical instruments, jewellery, medical instruments and other products not classified elsewhere (nec) (+35.8%), food products, drinks and tobacco (+10 .5%) and pharmaceutical, chemical-medicinal and botanical items (+11.5%). Exports of coke and refined petroleum products (-57.2%), motor vehicles (-23.7%), means of transport, excluding motor vehicles (-12.6%) and machinery and equipment nec (- 0.3%).

On an annual basis, the countries making the largest contributions to the increase in national exports are: Türkiye (+33.5%), Kingdom United (+10.8%), France (+4.4%), Spain (+8.0%) e Belgium (+10.3%). On the contrary, United States (-11.8%) e OPEC countries (-17.6%) provide the largest negative contributions.

In the first ten months of 2024, exports recorded a slight decline on an annual basis (-0.5%): mainly due to lower sales of motor vehicles (-14.5%), coke and refined petroleum products (-15.4%) and base metals and metal products, excluding machinery and plants (-4.3%). On the other hand, important positive contributions come from the greater sales of sporting goods, games, musical instruments, jewellery, medical instruments and other nec products (+19.7%), food products, drinks and tobacco (+8.3%) and articles pharmaceuticals, chemical-medicinal and botanicals (+6.5%).

The trade balance in October 2024 it is equal to +5,153 million euros (it was +4,495 million in October 2023). The energy deficit it reduced to -4,706 million, from -5,204 million the previous year. The surplus in the trade of non-energy products increases from 9,700 million in October 2023 to 9,860 million in October 2024.

In October 2024, import prices decreased by 0.1% on a monthly basis and by 1.5% on an annual basis (it was -0.5% in September).

(Photo: CHUTTERSNAP on Unsplash)

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