In February our country's exports remained almost unchanged compared to the previous month (+0,1 in total, +0,5% only on non-EU markets), while exports grew by 0,7% (+1,7% on EU markets). This was communicated by Istat, underlining however that on an annual basis the data are very different: +7,3% for exports (+11,8% on non-EU markets) and +0,8% for imports ( +4,6% also outside the European Union).
In the first two months of the year, the trade balance is positive by 6,5 billion if calculated net of the energy components. Considering these factors too, however, the figure drops to -5,5 billion, however an improvement compared to the deficit of over 9 billion of the previous year.
The economic growth of exports is more sustained for durable consumer goods (+2,2%) and non-durable (+1,6%) and negative for energy products (-8,2%). On the import front, there was a significant increase for energy (+2,8%). In the last quarter, exports recorded a cyclical growth of 2,1%, with a significant increase for energy products (+17,9%). For purchases, a decrease of 1,6% was observed, more accentuated for the EU markets (-2,0%) and for intermediate products (-4,2%).
The volumes exports increased by 2,1% compared to February 2011, while those imported decreased by 5,8%. The most dynamic main groupings of industries, compared to February 2011, were non-durable consumer goods and energy products, both in exports and imports.
Growth in February of exports was driven by sales of metal products to Switzerland, machinery and equipment to the United States and Germany, refined petroleum products to Opec countries and pharmaceutical items to France.
Crude oil and natural gas from OPEC countries, natural gas and refined petroleum products from Russia and natural gas from the Netherlands provide the major boost to import growth.
