Italy. Food and beverages: exports grow (+12.4%)
Statistical Institute certifies a positive trade balance of +1,445 million euros in November 2022 / Attachment
In November 2022, for what concern Italy, cyclical growth is estimated for exports (+3.9%), together with a decline for imports (-1.4%). The increase on a monthly basis in exports is due to the increase in sales to non-EU markets (+8.3%), while those to the EU area are stationary. Istat reports it in a note. In the September-November 2022 quarter, compared to the previous quarter, exports grew by 1.3%, while italian imports decreased by 2.6%. In November 2022, exports grew on an annual basis by 18.0% in monetary terms while in volume it was substantially unchanged (+0.2%). The growth of exports in value is more accentuated towards the non-EU area (+22.5%) than towards the EU markets (+14.0%).
Italian imports in value recorded a tendential increase of 20.4% - more intense for the non-EU area (+27.7%) than the EU area (+14.8%) - and decreased by 1.3% by volume.
The sectors that contribute most to the trend increase in exports include: means of transportation, excluding motor vehicles (+69.3%), pharmaceutical, chemical-medicinal and botanical items (+45.8%), machinery and equipment nec (+17.3%), food, beverages and tobacco (+12.4%) and computers, electronic and optical equipment (+27.4%). On an annual basis, the countries that provide the greatest contributions to the increase in national exports are: United States (+31.2%), Switzerland (+54.1%), France (+14.2%), United Kingdom (+27.6%) and Spain (+22.4%). Exports to Russia confirmed their sharp decline (-27.6%).
In the first eleven months of 2022, the growth trend in exports (+20.5%) is due particularly to the increase in sales of pharmaceutical, chemical-medicinal and botanical items (+44.3%), base metals and metal products, excluding machinery and equipment (+18.4%), refined petroleum products (+85.4%), machinery and equipment nec (+9.9%), chemical substances and products (+21.7%) and food, beverages and tobacco (+17.3%).
In November 2022 the italian trade balance is positive and equal to +1,445 million euros (+2,200 million in November 2021). The energy deficit (-8,456 million) is larger than a year earlier (-5,777 million) but the surplus in the trade of non-energy products, amounting to 9,901 million, is high and up sharply compared to November 2021 (7,976 millions). Also in November 2022, import prices decreased by 1.0% on a monthly basis and increased by 13.6% on an annual basis (it was +15.7 in October 2022).
The methodological note is attached at the bottom of this EFA News .
EFA News - European Food Agency