Foreign trade Aug. 2011

According to Istat, in August there is a cyclical growth of 0.1% for exports and 0.9% for imports. The increase in imports resulting from increased purchases from non-EU markets (+2.3%), while sales growth is attributable to the EU markets (+0.9%). In terms of trend flows growth is sustained, with increases by 16.2% for exports and 12.5% for imports, an increase of flows on EU markets (+17.1% and exports to +14 , imports and 2%) higher than non-EU markets (+15.2% exports and +10.9% imports). In the first eight months of 2011, the trend growth stood at 16% for purchases and for sales to 14.2%, with larger changes for non-EU markets: +20.8% for imports and +16.5% for export. As for the volumes, exports are increasing (+9.3%) more than imports (+2.8%). As for the volume, especially exports are increasing (+9.3%) than imports (+2.8%). In the first eight months, the growth of export volume (+6.3%) is stronger than imports (+4.2%). In August, the trade deficit amounted to 3.2 billion euro (-3.5 billion in August 2010). In the first eight months of the year the deficit amounted to 23.8 billion euro well above that of 2010 (-17.3 billion). In the same period, the non-energy balance is positive (+18.6 billion) and in increase over 2010 (+17.1 billion). and non-durable consumer goods (+16.7% imports and +15.5% exports). The export growth in August was driven by sales of basic metals and fabricated metal products to Switzerland and Germany, and machinery and equipment to Germany, France and the Mercosur countries. The increase in imports is determined primarily by the purchase of gas, vehicles and machinery from Germany, of chemical substances and products from Belgium and mining products from the Mercosur countries.

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