Bad news for Italian exports, which in October recorded a drop of 3,2% on September, the worst since March 2009. The figure remains positive on an annual basis (+4,5%). As for imports, it fell by 1,1% in cyclical terms and by 0,3% on a trend basis, the first annual decrease since December 2009. The trade deficit for October amounted to 1,1 billion euros, an improvement compared to October 2010 (-2,6 billion).
Istat notes this, specifying that the worst result for exports is recorded on non-EU markets (-5,3%), while for imports on EU markets (-2,4%). In the August-October quarter, exports recorded a cyclical growth rate of 0,7%, with a greater increase on non-EU markets (+1,4%). For purchases from abroad, on the other hand, a drop of 0,8% was observed. During the year, the trend growth of export volumes is 4,8%, that of imports is 0,6%.
The growth trend in average unit values remains stable in October, equal to 9% for imports and 6,5% for exports. Net of energy, the respective growth rates are +4,1% and +5,3%, respectively. From January to October the deficit reached 24,2 billion, with a slight worsening compared to the previous year (-23,6 billion).
In the same period, the non-energy balance (+26,5 billion) increased sharply on 2010 (+18,4 billion euro). In October, the most dynamic main groupings of industries were energy products in imports (+17,7%) and non-durable consumer goods in exports (+8,6%).
