Italy's exports up 0.4% MoM, imports down 1.4% in Feb 2023: Istat

Over the last three months, Italy's seasonally adjusted exports increased by 1.1 per cent, whereas imports dropped by 6.5 per cent when compared to the previous three months.

Moreover, in February 2023, both exports and imports grew by 10.8 per cent and 3.1 per cent, respectively, as compared to the same month in the previous year. Outgoing flows increased by 5.5 per cent for EU countries and 17.2 per cent for non-EU countries. On the other hand, incoming flows rose by 11.4 per cent for EU countries but decreased by 6.5 per cent for non-EU countries, as per Istat.

Italy's trade balance registered a surplus of €2,108 million in February 2023. It was a significant improvement from the €1,889 million deficit recorded for EU countries and a surplus of €3,997 million for non-EU countries. Excluding energy, the trade balance surplus reached €7,919 million.

Furthermore, import prices decreased by 1.7 per cent on a monthly basis in February 2023, with a decline of 0.1 per cent for the eurozone and 3.0 per cent for the non-eurozone. Over the last three months, compared to the previous three months, import prices decreased by 5.1 per cent, with a drop of 0.3 per cent for the eurozone and 9.0 per cent for the non-eurozone.

Import prices compared to the same month a year ago increased by 1.3 per cent in February 2023. There was a 5.6 per cent increase for the eurozone and a 2.2 per cent decrease for the non-eurozone.

Fibre2Fashion News Desk (DP)