Forex »

Positive Movement In Italian Trade

Share on StockTwits
Published on
Positive Movement In Italian Trade

The Italian National Institute of Statistics has this morning provided the April update to the nations Trade Balances. The Global Trade Balance is now running at a surplus of €3.505Bn, this is down slightly on the March reading of €3.886Bn, markets were disappointed as a figure closer to €4.270Bn had been anticipated. Italy’s Trade Balance with the EU rose moderately on the month, it is now €1.851Bn compared to an April surplus of €1.186Bn.

The above figures represent an April to March increase of 0.4% on exports and a corresponding decrease of 0.6% on imports. Export sales to EU countries picked up by 0.9% while sales to non EU countries fell by 0.2% on the month. Imports from EU countries fell 1.4% from March to April and this was somewhat offset by a 0.4% rise in imports from non EU countries.

By taking a more stable three month view on the situation it can be seen that seasonally adjusted quarter on quarter readings for both exports and imports have fallen by 0.7% and 1.5% respectively. This does reflect a slowing in activity but on balance it represents an increasingly positive trend in the Italian international trade situation.

Authorities in the Eurozones third largest economy will welcome the contribution of trade to the country’s growth efforts. The Italian economy, that is struggling to break free from recession, officially contracted by a further 0.1% during the first quarter of this year. Signs so far for the second quarter are more positive, the trade figures are undoubtedly a boost and these are accompanied by a welcome pick up in Industrial Production. The National Institute of Statistics has issued predictions for the remainder of the year that foresee up to 0.4% growth in Q2 followed by a flat to moderately positive second half of the year.

Share on StockTwits

Iron FX 1.11156/1.11128 2.8
XM Markets 1.09948/1.09928 2
FxPro 1.10184/1.10171 1.3
FXCM 1.13943/1.13912 3.1