ROME (ITALPRESS) – In August 2024, Istat estimates for trade interchange with non-EU27 countries, a small cyclical increase for both flows, larger for exports (+0.8%) than imports (+0.3%).The month-on-month increase in exports was due to higher sales of consumer durables (+12.7 percent) and non-durables (+5.8 percent); on the other hand, exports of energy (-9 percent), capital goods (-2.8 percent) and intermediate goods (-2.5 percent) decreased. On the import side, excluding energy (-5.3 percent), there are widespread cyclical increases of varying intensity, the largest for intermediate goods (+4.7 percent).In the June-August 2024 quarter, compared to the previous quarter, exports decrease by 2.5 percent. Exports of energy (-17.8 percent), consumer durables (-15.8 percent) and, to a lesser extent, capital goods (-2.2 percent) declined; sales of non-durable consumer goods (+0.3 percent) and intermediate goods (+0.1 percent) increased modestly. In the same period, imports decreased by 1.3 percent to which lower purchases of consumer non-durable goods (-4.9 percent) mainly contributed.As of August 2024, exports decreased year-on-year by 7.4 percent (it was +7.6 percent in July 2024). The decline is driven by lower sales of energy (-38.0%) and capital goods (-21.8%), while exports of consumer durables (+24.9%) and nondurable consumer goods (+3.5%) and intermediate goods (+1.1%) grow. Imports show a trend decline of 6.5 percent, mainly due to the contraction of energy purchases (-20.5 percent); a major negative contribution also comes from lower purchases of nondurable consumer goods (-8.5 percent); imports of intermediate goods grow (+10.3 percent).As of August 2024, the trade balance with non-EU27 countries is positive and amounted to +2,687 million (+3,081 million in the same month of 2023). The energy deficit (-4,244 million) is lower than a year earlier (-5,095 million). The surplus in the non-energy interchange shrinks from 8,176 million in August 2023 to 6,930 million in August 2024.In August 2024, exports to the United States (-23.1%) show a marked trend decline; sales to China (-7.6%), Japan (-7.0%) and the United Kingdom (-5.6%) also decline. Year-on-year growth in exports to Turkey (+17.2%), ASEAN countries (+10.2%) and OPEC countries (+9.4%).Imports from Switzerland (-44.7%), the United States (-37.8%), India (-33.3%) and OPEC countries (-24.5%) show a large trend decline; relatively smaller reduction in purchases from Turkey (-10.7%). On the other hand, imports from the other main non-EU27 partner countries increase, with the largest trend increases for MERCOSUR countries (+27.6%) and China (+26.3%). “In August, exports to non-EU27 countries recorded a slight cyclical increase, explained by higher sales of consumer goods. The modest cyclical growth in imports is mainly due to higher purchases of intermediate goods,” Istat commented. Exports decline again on an annual basis (-7.4 percent), but the dynamic is influenced by high-impact movements (shipbuilding) to the United States, recorded in August 2023; net of these, the trend decline in exports is much smaller (-1.8 percent).Imports also decline again on an annual basis; the reduction affects all groupings, excluding intermediate goods. In the first eight months of 2024, the trade balance with non-EU countries is positive by 41.5 billion (it was +25.8 billion in the same period of 2023).”
– Photo Agency Photogram –
(ITALPRESS).
