Despite the monthly gains, the quarterly overview presents a contrasting picture. Over the last quarter, exports remained stationary, whereas imports showed a decline of 4.8 per cent compared to the previous period.
In February 2024, Italy’s exports rose by 3.8 per cent and imports by 5.1 per cent, with notable increases in non-EU trade.
Despite this, the country’s quarterly figures show exports static and imports down by 4.8 per cent.
The trade surplus reached €6.03 billion (~$6.43 billion).
Import prices dropped by 0.2 per cent MoM and 5.5 per cent YoY.
Year-over-year (YoY) data for February indicates a 1.7 per cent increase in exports, with non-EU countries recording a higher increase of 2.8 per cent compared to EU countries at 0.6 per cent. Imports in the same period decreased by 6.1 per cent, with a steeper drop of 10.3 per cent from non-EU countries and a 3 per cent decrease from EU countries, as per Istat.
The trade balance for February 2024 showcased a significant surplus of €6.034 billion (approximately $6.43 billion), an improvement from the deficit seen in EU countries at €851 million but offset by a substantial surplus of €6.885 billion with non-EU countries. Excluding energy, the trade balance surplus widened further to €9.782 billion.
Regarding import prices, Italy experienced a slight decline of 0.2 per cent on a monthly basis, reflecting more pronounced decreases outside the eurozone at 0.5 per cent, compared to a minimal 0.1 per cent increase within the eurozone. The three-month comparison shows a broader decrease in import prices by 1.5 per cent, with non-eurozone prices falling more sharply by 2.5 per cent, contrasted with a 0.5 per cent decrease within the eurozone.
YoY, import prices in February fell by 5.5 per cent, with non-eurozone areas experiencing a significant drop of 7.8 per cent, compared to a 2.9 per cent decrease within the eurozone, indicating varied inflation pressures across different regions.
Fibre2Fashion News Desk (DP)