Italy's exports to EU shrink, non-EU growth in May 2023

18 Jul '23

2 min read

Pic: Shutterstock/MAGNIFIER

Insights

In May 2023, Italy's seasonally adjusted data revealed a decrease in exports by 0.3 per cent MoM and imports by 3.0 per cent MoM.
Despite a yearly increase of 0.9 per cent in exports, imports slumped by 7.6 per cent.
Italy's trade balance registered a €4,711 million surplus in May 2023, with import prices down by 1.5 per cent MoM and 7.8 per cent YoY.

In May 2023, Italy’s seasonally adjusted data, compared to April 2023, decreased by 0.3 per cent for exports and by 3.0 per cent for imports. Exports decreased by 1.7 per cent for European Union (EU) countries and increased by 1.2 per cent for non-EU countries. Imports dropped both for EU countries at -1.7 per cent and for non-EU countries at -4.5 per cent.

Over the last three months, seasonally adjusted data, compared to the previous three months, dropped both for exports at -3.3 per cent and for imports at -5.9 per cent, the Italian National Institute of Statistics (ISTAT) said in a press release.

In May 2023, compared with the same month of the previous year, exports increased by 0.9 per cent and imports dropped by 7.6 per cent. Outgoing flows decreased by 1.9 per cent for EU countries and rose by 4.0 per cent for non-EU countries. Incoming flows decreased by 2.1 per cent for the EU area and by 13.8 per cent for the non-EU area.

In May 2023, trade balance registered a surplus of €4,711 million; €267 million surplus for EU countries, and €4,444 million surplus for non-EU countries. Excluding energy, trade balance surplus reached €9,542 million.

In May 2023, import prices decreased by 1.5 per cent on a monthly basis, which was at -0.8 per cent for the euro zone and -2.1 per cent for the non-euro zone. Over the last three months, compared to the previous three months, import prices decreased by 4.9 per cent, which was at -1.0 per cent for the euro zone and -8.1 per cent for the non-euro zone.

Import prices, compared to the same month a year ago, decreased by 7.8 per cent in May 2023, which was at -0.3 per cent for the euro zone and -13.7 per cent for the non-euro zone.

Fibre2Fashion News Desk (NB)

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