Insights
- In December 2023, Italy's trade with non-EU27 countries saw a 7.2 per cent decrease in exports and a 26.8 per cent drop in imports year-on-year.
- However, month-on-month data shows a 0.9 per cent rise in exports and a 2.5 per cent fall in imports.
- The trade surplus with non-EU27 countries improved to €8,335 million, up from €4,007 million in December 2022.
Italy experienced a notable decrease in its trade with non-EU27 countries in December 2023, according to the preliminary estimate of the Italian National Institute of Statistics (Istat). Exports to these countries fell by 7.2 per cent, while imports saw a substantial drop of 26.8 per cent compared with the same month in the previous year.
Despite this annual decrease, December 2023 showed some positive trends in a month-on-month comparison. Seasonally adjusted data indicates that exports increased by 0.9 per cent, and imports decreased by 2.5 per cent compared with November 2023. Additionally, over the last three months, compared with the previous three months, there was a 2.3 per cent increase in outgoing flows and a 0.2 per cent increase in incoming flows.
In terms of trade balance with non-EU27 countries, December 2023 marked a significant improvement. Italy registered a trade surplus of €8,335 million, a substantial increase compared with a surplus of €4,007 million in December 2022. However, excluding energy, the trade surplus was slightly down, standing at €13,245 million, compared to a €13,247-million surplus in December of the previous year, as per Istat.
In December 2023, Italy's trade with non-EU27 countries saw a 7.2 per cent decrease in exports and a 26.8 per cent drop in imports year-on-year.
However, month-on-month data shows a 0.9 per cent rise in exports and a 2.5 per cent fall in imports.
The trade surplus with non-EU27 countries improved to €8,335 million, up from €4,007 million in December 2022.
Fibre2Fashion News Desk (DP)
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