Trade balance, Istat: balance improves to +318 million in April

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In April, a cyclical decline is estimated for exports (-1.7%) and growth for imports (+5.3%). The decrease on a monthly basis in exports is due to the drop in sales to both areas, the EU (-1.5%) and outside the EU (-2%). The estimate of the trade balance in April is equal to +318 million (it was -3,639 million in April 2022). The energy deficit (-5,730 million) decreased compared to a year earlier (-9,111 million), while the surplus in the trade of non-energy products increased from 5,472 million in April 2022 to 6,047 million in April 2023. This was communicated by Istat.

In the February-April 2023 quarter, compared to the previous one, exports decreased by 2.2%, imports by 6.5%. In April, exports decreased on an annual basis by 5.4% in monetary terms and marked a larger contraction in volume (-10.3%). The reduction in exports in value concerns both EU markets (-5.7%) and non-EU markets (-4.9%). Imports recorded a downward trend of 12.3% in value – much more marked for the non-EU area (-19.4%) than in the EU area (-5.6%) -, while in volume it shows a more contained drop (-4.8%). Among the sectors that contribute the most to the trend reduction in exports, we highlight: metals and metal products (-20.1%), pharmaceutical, chemical-medical and botanical items (-22.1%), refining products (-31 .7%) and chemical substances and products (-14.7%).

Exports of means of transport increased on an annual basis, excluding motor vehicles (+24.7%), motor vehicles (+30.1%) and machinery and appliances nec (+5.2%). On an annual basis, the countries that provide the greatest contributions to the decline in national exports are: Germany (-8.7%), Belgium (-23%) and the United Kingdom (-13.7%). Conversely, exports to the United States (+6.5%), Switzerland (+4.1%), Spain (+3.6%) and Turkey (+8.6%) grew. In the four months, exports recorded a tendential growth of 5.9%, to which the increase in sales of machinery and equipment nec (+14.2%), pharmaceutical, chemical-medical and botanical items (+17, 6%), motor vehicles (+22.7%) and food, beverages and tobacco (+10.5%).