Italy’s international trade on the rise: ISTAT

LUMINOSITY ITALIA

In another sign Italy’s economy is on the mend, exports to non-EU countries rose 13.9 percent in May over same month in 2016, while imports increased 22.3 percent, according to just-released data from the national statistics agency ISTAT.

Though growth in imports outpaced exports for the month, Italy’s trade balance remained positive with a surplus of €2.658 million.

Over the last three months, seasonally adjusted data showed a 1.5 percent increase in exports and a 1.6 rise in imports over the previous three months.
News about Italian economy
Trade fairs and fine products: In the period from January to May, exports to non-EU countries increased by 9.3 percent and imports increased by 16 percent compared with the same period in 2016.

In the period from January to May, exports to non-EU countries increased by 9.3 percent and imports increased by 16 percent compared with the same period in 2016. The trade balance registered a surplus of €10.204 million compared to a surplus of €13.012 million in the same period of 2016. Excluding energy, the trade balance had a surplus of €24.436 million compared with €22.764 million in January to May 2016.

The report comes as another study from ISTAT found that consumer confidence increased slightly in June, with all components in the survey improving. Expectations for the economic, personal, current and future financial environment all rose, while the view on unemployment improved from a score of 32.9 to 35.4.

ISTAT’s composite business confidence climate index increased from 106.2 to 106.4 and the confidence index in manufacturing increased from 106.9 to 107.3.

Italy's economy is projected to grow 1.3 percent this year, the International Monetary Fund said in early June, raising its projection from a previous outlook of 0.8 percent. It credited a broad euro zone recovery and supportive fiscal and monetary policy for the improvement.

In other upbeat news, unemployment in Italy fell to 11.1 percent in April, the lowest level in almost five years, according to ISTAT. Jobless numbers were down 0.4 percentage points from March and 0.6 points lower than in April, 2016.

The number of employed in Italy in April rose by about 94,000, or 0.4 percent, compared to March. Employment rates increased for both men and women, with those over the age of 50 leading the rise, followed by those from 25 to 34 years old. Yet unemployment among the youth between the ages of 15 and 24 remained very high in April at 34 percent, unchanged from the previous month.