Wed, 29 Nov 2023

Italy's trade declines in September: official data

17 Nov 2023, 08:44 GMT+10

ROME, Nov. 16 (Xinhua) -- Foreign trade in Italy declined in September as the country's economy continues to slow, Italy's National Statistics Institute (ISTAT) said on Thursday.

Exports and imports fell in September year-on-year by 4.5 percent and 3.1 percent respectively, ISTAT said in a press release, adding that the decline in exports was smaller for trade within the European Union (EU), which slipped by 2.4 percent, than with countries outside the bloc, where the drop was 6.7 percent.

Over the third quarter that ended in September, seasonally-adjusted data showed a slight increase of 0.3 percent for exports and a decrease of 2.9 percent for imports compared to the previous quarter, it said.

There were declines across most economic sectors, with metals and metal products down by 19.4 percent, chemical products down by 13.7 percent and leather items down by 14.4 percent.

Italy's trade with the United States down by 11.9 percent, and with Britain down by 11.4 percent. The country saw the biggest trade declines among non-EU partners. Meanwhile, exports to Germany, which fell by 7.8 percent, and to France, which saw a 5.4-percent decline, declined the most among EU partners.

The trade data echoed Italy's economic growth, which was flat in the third quarter. It was the third time in the last four quarters that the country's economy had failed to grow.

More Italy News

Access More

Sign up for The Italy News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!