(Finance) – Istat estimates for August 2023 a cyclical growth for both foreign trade flows, more intense for exports (+5.1%) that the imports (+3.8%). The monthly increase in exports is due to the increase in sales to both areas, the EU (+3.5%) and non-EU (+6.9%).
In the quarter June-August 2023, compared to the previous one, exports recorded a slight increase (+0.3%), imports a reduction of 2.0%.
In August 2023, exports grow by 2.5% on an annual basis monetary terms (from -7.7% in July) and 3.4% in volume. The growth in exports in value is the result of an increase of 8.9% for non-EU markets and a contraction of 3.7% for the EU area. Imports show a trend decline of 20.9% in value, much larger for the non-EU area (-32.6%) than for the EU one (-6.6%); in volume, the reduction is limited (-2.3%).
Between sectors that contribute the most the trend growth in exports includes: means of transport, excluding motor vehicles (+55.4%), machinery and equipment not classified elsewhere (nec) (+11.8%), food products, drinks and tobacco (+6, 3%) and motor vehicles (+18.5%). Exports of base metals and metal products, excluding machinery and plants (-11.1%), chemical substances and products (-12.9%) and coke and refined petroleum products (-8.0%) decreased on an annual basis. ).
On an annual basis, i countries that provide the largest contributions the increase in exports are: United States (+34.0%), OPEC countries (+14.7%) and Switzerland (+8.0%). Exports to Germany (-3.9%), the United Kingdom (-8.7%) and France (-4.1%) decreased.
In the first eight months of 2023exports recorded a trend growth of 2.3%, contributed in particular by the greater sales of nec machinery and equipment (+11.2%), motor vehicles (+26.0%), food products, drinks and tobacco ( +7.6%), means of transport, excluding motor vehicles (+10.1%) and pharmaceutical, chemical-medical and botanical items (+7.3%).
The estimate of trade balance in August 2023 it is equal to +2,070 million euros (it was -9,508 million in August 2022). The energy deficit (-4,541 million) is reduced to almost a third of the value recorded a year earlier (-11,836 million), while the surplus in the trade of non-energy products increases from 2,329 million in August 2022 to 6,612 million in August 2023.
In August 2023 i import prices they decreased by 0.3% on a monthly basis and by 12.7% on an annual basis (from -11.4% in July).
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