In January 2022, exports increased on an annual basis by 22.6%; growth is more sustained in the EU area (+ 25.5%) than in non-EU markets (+ 19.2%). Imports recorded a more marked trend increase (+ 44.5%), which involves both the EU area (+ 29.0%) and, to a much greater extent, the non-EU area (+ 65.5% ).
Among the sectors that contribute most to the trend increase in exports are: base metals and metal products, excluding machinery and systems (+ 27.1%), means of transport, excluding motor vehicles (+ 57.6%), pharmaceutical, chemical-medicinal and botanical articles (+ 25.9%), refining products (+ 87.3%) and chemicals and substances (+ 25.2%). Sales of motor vehicles are down (-1.7%).
On an annual basis, the countries that provide the greatest contributions to the increase in national exports are the United States (with an increase of 38.8%), Germany (+ 18.6%), France (+ 19.0%), Spain (+ 34.0%), United Kingdom (+ 35.3%) and Belgium (+ 32.2%). Sales to China (-9.0%) and Switzerland (-3.4%) decreased.
Growth in exports which, as mentioned, does not keep pace with the increases in energy prices, with the result of reducing the trade balance to -5,052 million euros (it was +1,584 million in January 2021). The energy deficit (-6.439 million) widens considerably compared to January last year (-2.327 million).
The surplus in the trade of non-energy products is reduced from 3,911 million for January 2021 to 1,387 million for January 2022.