The balance of trade improves, but not trade. TO March Italy recorded a marked decline on an annual basis in exports (-6%) and an even more serious decline in imports (-10,6%). The difference has produced a positive foreign trade balance of 3,2 billion, a strong improvement compared to 2012 (+1,8 billion). The trade surplus is the result of a surplus with both non-EU countries (+2,6 billion) and EU countries (+0,6 billion). Net of energy, the monthly balance is positive for 7,5 billion. This was communicated today by Istat, explaining that the drop in imports and exports is partly attributable to the different number of days worked: 21 in March 2013, against the 22nd of March 2012.
Compared to February, however, the third month of this year records an increase for both foreign trade flows, larger for exports (+1,2%) than for imports (+0,2%).
The cyclical increase in exports is mainly determined by sales to non-EU countries (+2,0%). The growth is accentuated for durable and non-durable consumer goods (+5,9% and +2,7% respectively) and capital goods (+2,1%).
The cyclical increase in imports is the synthesis of the increase in purchases from EU markets (+2,4%) and the decrease in those from non-EU markets (-2,4%). There was a sharp decline in purchases of energy products (-6,9%).
In the first quarter 2013 there was a cyclical decline for both flows, larger for imports (-1,7%) than for exports (-0,4%).
In March, the tendential reduction in exports is particularly marked towards Spain (-19,6%), the Netherlands (-13,9%) and Turkey (-11,9%). Significant is the decrease in sales of refined petroleum products (-28,7%), base metals and metal products, excluding machinery and plants (-14,9%) and computers, electronic and optical devices (-10,7 %).
Imports from the United States (-28,6%), Opec countries (-28,1%) and Eda countries (-27,8%) are decreasing sharply. The purchases of crude oil (-29,6%), refined petroleum products (-27,1%) and computers, electronic and optical devices (-22,0%) contracted sharply.
The decrease in sales of base metals and metal products, excluding machinery and equipment, to Germany and France and refined petroleum products to Turkey, the United States and Spain explain almost a third of the downward trend in exports.
