Italy's exports drop 1.9% MoM in Oct 2024; imports fall 0.3%

This decrease in exports is marked for non-European Union (EU) markets (minus 3.2 per cent) and limited for the EU area (minus 0.7 per cent).

In the August-October 2024 quarter, exports grew by 0.6 per cent quarter on quarter (QoQ) and imports by 1.1 per cent QoQ.

In October 2024, exports grew on an annual basis by 1.6 per cent in monetary terms, while they were almost stationary in volume (minus 0.1 per cent), an Istat release said.

This growth in exports in value was the result of an increase for EU markets (plus 3.7 per cent) and a moderate decline for non-EU markets (minus 0.7 per cent).

Imports recorded a limited trend growth in value (plus 0.4 per cent), the result of an increase in the EU area (plus 3.9 per cent) and a contraction in the non-EU area (minus 4 per cent); in volume, imports increased by 1.2 per cent. 

On an annual basis, the countries that provided the largest contributions to the increase in national exports were Turkiye (plus 33.5 per cent), the United Kingdom (plus 10.8 per cent), France (plus 4.4 per cent), Spain (plus 8.0 per cent) and Belgium (plus 10.3 per cent).

The United States (minus 11.8 per cent) and OPEC countries (minus 17.6 per cent) offered the largest negative contributions.

In the first ten months this year, Italy’s exports declined slightly by 0.5 per cent on an annual basis.

The country’s trade surplus in October this year was €5,153 million; it was €4,495 million in October 2023.

In October, import prices decreased by 0.1 per cent on a monthly basis and by 1.5 per cent on an annual basis.

ALCHEMPro News Desk (DS)