At least on the gods side accounts with foreign countries,Istat finally gives us some good news: thanks to a good third quarter, and a great september, she's gone the trade balance was good in the first 9 months of 2014a assets of €28,2 billion (+ 1,2% compared to the same period of 2013), mainly driven by sales in non-EU markets. Imports are also increasing, but at a slower pace. Net of energy products, the balance is positive by €61,7 billion, thanks to the strong growth of means of transport (excluding motor vehicles) and of pharmaceutical, chemical-medicinal and botanical articles. Let's see the data in detail.
Compared to the previous month, in September 2014 there was an increase in both exports (+1,5%) and imports (+1,6%). The cyclical increase in exports is supported by sales to non-EU markets (+4,1%), while exports to the EU area are down (-0,7%). The growth in sales abroad is larger excluding energy products (+1,9%) and is driven by capital goods (+5,6%). The cyclical increase in imports is mainly determined by the growth in purchases from the non-EU area (+ 3,3%). Strong increase in the import of energy products (+7,9%) and capital goods (+2,8%). In the third quarter of 2014, compared to the previous quarter, both exports and imports decreased slightly (-0,2% for both flows). In September 2014, the large tendential increase recorded for exports (+7,4%) is conditioned by the difference in working days (22 in 2014 and 21 in 2013). Net of this effect, exports recorded a tendential increase of 2,1%. In the same month, the tendential increase in imports (+3,3%) is due to the strong growth in purchases from the EU area (+6,2%). In September 2014 the trade surplus was 2,0 billion (+0,7 billion in September 2013). Net of energy, the balance is positive for 5,6 billion.
In the first nine months of the year the trade surplus reached 28,2 billion (it was 19,0 billion in the same period of the previous year) and, net of energy products, 61,7 billion. In the same period there was a growth trend in exports of 1,4% in value and 0,3% in volume. There flexion registered for imports (-1,9%) reflects the contraction in average unit values (-2,6%) while volumes are growing (+0,8%). In September, the growth trend in exports was sustained for Belgium (+29,9%), OPEC countries (+20,6%) and the United States (+13,3%). Strong growth in means of transport (excluding motor vehicles) (+27,7%) and pharmaceutical, chemical-medicinal and botanical articles (+16,5%). Purchases from India (+20,3%) and Spain (+20,0%) are growing markedly. The import of means of transport (excluding motor vehicles) (+29,6%) and leather goods, excluding clothing (+16,7%) is booming.
