From an asset of 20 billion to a “red” that is close to ten. An enormous excursion, that of the non-EU trade balance in the first five months of the year, attributable almost entirely to the surge in energy prices.
Two fundamental aspects emerge from the Istat data: on the one hand, the acceleration of exports, which continues to grow almost everywhere in double digits; on the other hand, the surge in imports, with Russia playing a decisive role in weighing down our liabilities.
The cyclical growth in sales with non-EU27 countries is 4.7% and concerns all the main groupings of industries, with the exception of non-durable consumer goods.
In the quarter March-May 2022, compared to the previous quarter, exports grew by 8.5%, and in the same period, imports recorded a conjunctural increase of 15.0%, to which the strong increase in energy purchases (+ 31.9%).
Year-on-year sales increase is 26.2% and sees robust growth almost everywhere, with the decisive driving force being the United States, growing by more than 40%. There are only two exceptions. First of all, China (-91%), held back by the slowdown in the economy and the new constraints imposed by Covid