After the setback in December, in January exports recorded a new increase on a monthly basis, mainly driven by sales of capital goods and intermediate goods. This is what Istat reports according to which, on the average of the last three months, the economic trend is very positive. On an annual basis, export growth – spread to all sectors, with the exception of motor vehicles – accelerates again (+ 22.6%, from + 16.2% in December), driven in particular by trade with EU countries . Purchases of natural gas and crude oil explain a quarter of the trend increase in imports. The energy deficit widens considerably but the balance in the trade of non-energy products is positive, although less large than in January of last year. Import prices continue to increase on a monthly basis and to accelerate on an annual basis (+ 17.9%, from + 15.6% in December 2021), mainly driven by increases in the prices of energy and intermediate goods.