The rush of the lists continues to push national exports, which in August on an annual basis grew by 24.8%, progress achieved almost homogeneously between European and non-EU markets. This thrust derives above all from the increase in unit values (+ 23.2%), a direct result of generalized inflation, while in terms of volumes of goods, progress is limited to just over one point.
On the import side, the energy rush continues, once again pushing the trade balance into the red: almost ten billion in August alone, over 23 since January, compared to a surplus of 38 in the same period last year. Energy was decisive, which in eight months saw the value of imports almost tripled: from 31.7 billion in 2021 we are now at 91. In precise terms, if in August 2021 the outlay for Italy had been less than five billion, now we break through to 14. Only from here, from gas and oil, the monthly deficit jumped to 12 billion, more than 70 in eight months. In general, taking into account goods and energy, for Italy this is the ninth consecutive month in which the trade balance ends in red,
Despite everything, Italy is still able to gain world market share compared to its main EU competitors. Taking into account that against a 22% growth in our exports between January and August, for France the progress is 19 points (the gap on extra-EU markets rises to seven) while for Germany it drops to 14, a result direct and tangible of the global car crisis.
The progress in August brings the number of consecutive months of growth in national exports to 18, which thanks to the price rush is approaching the annual threshold of 600 billion: between September 2021 and August 2022 we have already reached 589 .
The analysis of the outlet markets does not offer particular ideas, seeing double-digit growth almost everywhere with very few exceptions. Russia, of course, which sees a decline of 16% as a result of sanctions, a slowdown which, in any case, is decreasing in percentage terms with the passing of the months. And then Germany, the only European market “out of tune” with respect to a combined growth of nearly 28%. Berlin stops at +17, probably presenting the first effects of an economy penalized by the car and gas crisis. Not exactly good news, taking into account that this is the first outlet market for Italy.