July 3, 2022

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Gas, a surge (+ 193%) in the value of energy imports purchases from Russia double – Corriere.it

Italy is importing more and more energy goods, especially from Russia. The situation is depicted by Istat data on non-European trade in Italy in April. Statistics show An explosion in energy product imports by 193.8% year on year. It grows among the markets of Italian import origin Russia doubles its sales in Italy (+118.8%) In addition to the OPEC countries (+109.6%), the market is expanding if one thinks too Eni’s latest deal in Algeria. On the other hand, Italian exports to Moscow are seeing an annual decline of 48.4%.

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Energy product purchases contribute more than two-thirds of the strong trend to the increase in Italian imports from countries outside the European Union, notes Istat, commenting on the data. The energy deficit widens dramatically and exceeds 30 billion in the first four months of the year; In the same period, the trade deficit amounted to 8,504 million, compared to a surplus of 15,588 million in the first four months of 2021. In the month of April alone, the trade deficit with non-EU member countries amounted to 2,292 million compared to a thousand. A surplus of 4,858 million in the same month of 2021. The energy deficit was 8,862 million (it was 2,901 million in the previous year).

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In April 2022, exports to non-EU countries continued to grow month-on-month, uninterrupted since the start of the year primarily driven by sales of energy and consumer non-durable goods, according to Istat data which registered an increase compared to March. By 1.9% for exports and 6.4% for imports. On an annual basis, export growth is clearly slowing down (+11.8%, was +22.2% in March); However, this trend is conditioned in part by high-impact spin-offs (shipbuilding), recorded in April 2021, of which the most sustainable net growth (+13.6%) is mentioned in the institute note.

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