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July 24, 2020 Extra-EU exports restart, rising by 20% on a monthly basis in June, which however remained down by 28.1% in the second quarter on a cyclical basis. Imports also increased, increasing by 14.9%. The trade balance in June was a positive 4.436 billion (it was +4.994 billion in June 2019). The surplus in the exchange of non-energy products decreased (from +8.299 billion for June 2019 to +6.015 billion for June 2020). The strong monthly increase in exports, Istat reports, is mainly due to the increase in sales of durable consumer goods (+ 43.3%), capital goods (+ 24.9%) and intermediate goods (+11 , 1%).

As regards imports, the increase is mainly determined by energy (+ 41.5%), capital goods (+ 32.1%) and non-durable consumer goods (+ 16.6%). The increase for durable consumer goods was high (+ 59.2%), which, however, only explains the cyclical rise in imports for 1.5 percentage points. 

In the second quarter of 2020, despite the growth in May and June, the economic trend of exports is largely negative (-28.1%), due to the sharp drop recorded in April and is a synthesis of declines that affect all the main groupings of industries, the most accentuated for energy (-56.0%), durable consumer goods (-46.5%) and capital goods (-33.5%). In the same period, the economic downturn in imports (-20.3%) affects almost all groupings and is wider for energy (-50.5%), durable consumer goods (-38.1%). Purchases of non-durable consumer goods increased slightly (+2.0%). Exports showed a still marked decrease on an annual basis (-15.6%) but with a marked and progressive attenuation (-31.5% a May; -44.0% in April).

The generalized contraction is wider for energy (-53.5%), durable consumer goods (-24.6%) and non-durable consumer goods (-17.1%). Compared to exports, imports show a downward trend (-17.0%), slightly more marked, with strong declines for almost all groupings, the largest for energy (-52.4%) and durable consumer goods (-22 , 9%). Purchases of non-durable consumer goods increased on an annual basis (+ 9.9%). 

In June, exports to Mercosur countries (-32.7%), Asean countries (-23.3%) and the United States (-22.4%) fell sharply on an annual basis. Purchases from OPEC countries (-47.2%), Russia (-41.5%), Asean countries (-22.1%) and Turkey (-21.2%) show trend decreases much wider than the average of imports from non-EU27 countries. Purchases from China increased sharply (+ 24.3%). For the non-EU area, excluding the United Kingdom, exports are estimated to increase by 15.4% on a monthly basis and decrease by 15.4% on an annual basis. Imports recorded a strong increase over the month (+ 18.5%) and a large decrease over the year (-17.6%). The trade balance is equal to +3.568 million. 

Non-EU foreign trade: in June 2020 exports + 14.9% on a month and -15.6% on an annual basis; imports + 20% over May and -17% in one year. Trade balance +4.436 million (+4.994 million in June 2019) #istat https://t.co/nbgYD5waMN pic.twitter.com/SKt0X0ZNEx

- Istat (@istat_it) July 24, 2020