In February, Italian exports to non-EU countries increased on a monthly basis, fueled primarily by non-durable consumer goods sales. Imports continue to fall, owing primarily to lower purchases of energy products, which have benefited from widespread price reductions. On an annual basis, export growth is strong, albeit slowing, and geographically concentrated: in fact, sales to China and the United States account for more than two-thirds of the overall trend increase. The bending in imports has widened for the second consecutive month, and it is almost entirely determined by the contraction of purchases of energy and intermediate goods. Trade with non-EU countries outside the EU-27 is expected to increase cyclically for exports (+1.7%) while decreasing for imports (-1.8%) in February 2023. Imports from Russia are down by 80.0% year on year, as are purchases from China (-14.2%) and the United States (-9.7%). Purchases from major partner countries outside the EU-27, on the other hand, are increasing: the largest trend increases concern OPEC (+41.0%) and the UK (+34.7%).
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