Non-EU exports resume growth. For November 2020, ISTAT notes a new economic increase. With an extraordinary peak in China, +35%, and an appreciable increase in Switzerland.
November 2020, extra-EU exports +2.7 percent
Trade with non-EU27 countries(without UK), as of November 2020, is estimated to increase in both imports (+3.6 percent) and exports (+2.7 percent) in the economy.
The month-on-month increase in exports affects all major industrial sectors, particularly on sales of intermediate goods (+5.7 percent) and non-durable consumer goods (+5.0 percent), with the exception of capital goods (-2.4 percent). (1) Year-on-year growth is estimated at +1.4 percent, after -9.7 percent in October 2020.
Conversely, imports recorded strong cyclical increases for capital goods (+15.1 percent), in addition to those for consumer durables (+8.7 percent). Instead, energy imports fell (-6.3 percent).
September-November 2020, non-EU exports +10.8 percent
In the September-November quarter of 2020, compared with the previous quarter, exports grew by 10.8 percent. Overall growth is strongest in energy (+14.5 percent), consumer durables (+13.8 percent) and capital goods (+13.7 percent).
Imports, in the same quarter, increase cyclically by 3 percent. The largest increases were in consumer durables (+10.3 percent) and intermediate goods (+10.2 percent). Imports of consumer non-durable goods (-7 percent) and energy (-2.5 percent) fall.
The target markets of Made in Italy
The increase in exports is particularly marked to China (+35 percent), Mercosur countries (+17.8 percent), Switzerland (+12.8 percent) and the United States (+4.7 percent). In contrast, sales to OPEC countries (-20.9 percent), Japan (-13.3 percent) and Russia (-4.0 percent) decreased.
‘ Export growth is mainly driven by sales to China and Switzerland. The increase in exports to these two countries contributes about 3.5 percentage points to the overall trend increase’ (Istat, press release 21.12.20).
Purchases from Russia (-47.4 percent), India (-14.8 percent), the United Kingdom (-13.4 percent), Turkey (-13.2 percent) and the United States (-12.0 percent) show much larger trend declines than the average for imports from non-EU27 countries. Purchases from China (+14.3 percent) and Switzerland (+7.1 percent) were up sharply.
Overall, the estimated trade balance in November 2020 is +6,677 million (it was +5,432 million in November 2019).
Notes
(1) Consumer goods are those used to directly satisfy human needs. They are divided into:
– durable. Household appliances, radios and televisions, optical and photographic instruments, watches, motorcycles and bicycles, other means of transportation, furniture, jewelry and goldsmithing, musical instruments,
– non-durable(fast moving consumer goods, FMCG). Foodstuffs, tobacco, textile goods, clothing, leather and footwear, publishing, printing and recorded media, pharmaceuticals, detergents, sporting goods, games and toys.
Intermediate goods are those incorporated in the production of other goods.
Capital goods are goods used for the production of other goods (machinery, transportation equipment, etc.), intended for use for a period of more than one year.
Professional journalist since January 1995, he has worked for newspapers (Il Messaggero, Paese Sera, La Stampa) and periodicals (NumeroUno, Il Salvagente). She is the author of journalistic surveys on food, she has published the book "Reading labels to know what we eat".
