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Csc - Italy

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Submitted By ankurmajumder
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BALANCE OF TRADE Italy recorded a trade surplus of 1,907 EUR Million in April, 2013 as exports recovered and imports shrank. Total exports rose 4.4% yoy and imports declined 2.6%. The recovery in exports was broadly driven by the rise in shipments of pharmaceuticals products towards Belgium (+30.2%), Mercosur countries (+21.9%) and Asean countries (+19.1%). There was an increase in sales of pharmaceutical products, medicinal chemical and botanical products (+29.2%) and leather goods (+13.4%). Imports from OPEC countries (-34.0%), United States (-16.0%), and Switzerland (-7.9%) registered a sharp decline. With European Union countries, there was a trade surplus of € 441 million, narrowing from a surplus of € 650 million in April 2012. Exports to EU nations were up 3.1% yoy as Italy posted a global trade surplus of 4.626 billion EUR, compared with a deficit of around 4.2 billion EUR in Jan-April 2012.Historically, from 1991 until 2013, Italy Balance of Trade averaged a surplus equivalent to 248.45 EUR Million reaching the best surplus at 6382.91 EUR Million in July, 1996 and the worst deficit at 6389.31 EUR Million in January, 2011. In 2012, Italy was able to re-balance its foreign trade flows because the reduction in imports enabled the country to invert its long term trade deficit into surplus. Main exports included precision machinery (18%); metals and metal products (13%); clothing and footwear (11%) and motor vehicles (10%). Main imports included fuel (17%), motor vehicles (10%), raw minerals (10%), chemicals and pharmaceuticals (9%) and electronic devices (8%). |
DOMESTIC DEMAND:
Italy's economy contracted by 0.6% in the first quarter of 2013 due to a weak domestic demand and also exports fell sharply and contributed to the overall fall in GDP. The 1.9% quarterly fall in exports was the steepest drop since the first quarter of 2009. GDP is more than 7%

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