Energy continues to weigh on the Italian trade balance, which in March went in the red by 84 million after having presented an asset of 5.2 billion 12 months earlier.
The role of Russia is decisive, which in just one month, thanks to gas and oil, increases its sales by 155%, more than doubling to over three billion euros from 1.2 billion in March 2021. The deficit with Moscow it goes from half a billion euros in March 2021 to 2.7 billion in March 2022
If imports from Moscow take off, the opposite happens for our sales, which have more than halved. Not so much and not just because of the first direct impact of the sanctions on individual assets, which in March were still limited, rather because of the first block of the payment system, to which is added the overall uncertainty on the successful completion of transactions.
In just one month, our exports to Russia thus yield more than 350 million.
The data on non-EU exports are different and opposite, which almost everywhere recorded double-digit growth, bringing the total values to rise by more than 20%.