Stat, trade balance in red from billion in August. Exports to the United States are working, while exports to Russia are declining

Last August, Italian exports grew 24.8% in value and 1.3% in volume Compared to the same month of 2021. Compared to the previous month, there is one instead A decrease of 3.6% is mainly due to shipbuilding operations that marked the month of July. move it Istat. The value of the Imports jumped 59% On an annual basis due to higher prices of energy products. The Balance From the August trade balance (the difference between the value of exports and imports) is Negative for 9.5 billion Compared to the surplus recorded a year ago, about one billion euros. “Red” is entirely due to that energy deficit Almost 12 billion euros.

On a yearly basis, exports to Italy are growing a lot Turkey (+72.8%) While these are towards Russia (-16%). In recent months, it has been reported that Turkey may be used as a “bank” to send products to Russia that cannot be exported directly to Moscow due to sanctions. strong rise of Sales to the United States 43% preferred by A Especially favorable euro/dollar exchange rate. Exports to France also performed well (+26.4%), Germany (+17%) and Spain (+36.6%). The sectors showing the strongest increases are Pharmacist (+73%), Refined Petroleum Products (+88%), Food (+22.7%), Mechanics (+13.6%), Chemicals (+29%). In the first eight months of 2022, the growth in exports amounted to 22.1% due in particular to increased sales of pharmaceutical, chemical, medicinal and vegetable products (+47.3%), base metals and mineral products, excluding machinery and plants (+22%), petroleum products Refined (+ 109.3%), Materials and Chemicals (+ 28.0%) and Food, Beverage and Tobacco Products (+20%).