Istat has published the latest updates on Italian exports in the last month of 2012. In December energy products (-5,7%) and durable consumer goods (-4,7%) contributed more to the cyclical downturn in exports (-3,7%). The growth of capital goods (+8,2%), of non-durable consumer goods (+2,5%) and of durable goods, on the other hand, gave impetus to the cyclical increase in imports. The tendential decrease in exports was particularly sustained for intermediate goods (-10,0%) and capital goods (-6,2%), in particular means of transport (-13,6%), base metals and metal products (-13,0%) and articles in rubber and plastic materials (-11,5%). Despite that, a significant increase in exports was recorded in the sale of pharmaceutical, chemical and botanical items (+32,2%) and refined petroleum products (+22,7%). On the import side, purchases of motor vehicles decreased sharply (-24,9%), while pharmaceutical, chemical and botanical items (+15,8%) and electrical appliances (+13,2%) increased significantly.
From a geographical point of view, the decrease in exports in cyclical terms involved both EU (-0,5%) and non-EU (-0,4%) markets, while, on the other hand, the cyclical increase of imports (+1,3%) is attributable to the EU area (+3,5%). Last December, the downward trend in exports (-3,7%) was supported by the sharp decrease in sales to Romania (-18,9%), France (-13,3%) and Germany (-12,5%). Sales to Belgium (+35,1%), ASEAN countries (+19,1%) and OPEC countries (+16,0%) are instead on the rise, significantly offsetting the contraction in exports. The tendential decrease in imports (-6,4%) was affected by the sharp contraction in imports from Japan (-45,1%), MERCOSUR countries (-28,3%) and India (-25,6%), while it is mitigated by the sustained increase in purchases from Belgium (+47,6%) and Russia (+28,4%).
In December the trade balance showed positive balances with the USA, Switzerland, France and the United Kingdom. The main negative balances concern Germany, the Netherlands, Russia, OPEC countries and China.
