Italy Trade Surplus Widens in August on Falling Imports

The Italian trade surplus increased 91.4 percent year-on-year to €2.056 billion in August of 2014. While exports recorded the first annual drop in nine months, imports shrank the most in a year, due to lower energy purchases.

Exports contracted 2.71 percent year-on-year to € 24.07 billion in August (-1.3 percent for European Union and -4.1 percent for non EU countries). Sales decreased the most for MERCOSUR countries (-26.4 percent), Russia (-16.4 percent) and Japan (-14.7 percent). Shipments of vehicles (excluding motor vehicles) fell 14.0 percent and those of agriculture, forestry and fishing products declined 9.7 percent.

Imports decreased 6.98 percent year-on-year to € 22 billion. Purchases from OPEC countries (-32.0 percent) and Russia (21.5 percent) are in a marked decline. Imports of transport equipment (excluding motor vehicles) (-47.1 percent) and natural gas (-40.5 percent) showed a significant drop.

On a seasonally adjusted basis, exports rose 1.1 in August over July while imports fell 0.4 percent.

Italy Trade Surplus Widens in August on Falling Imports

Istat | Joana Taborda |
10/16/2014 9:33:30 AM