Italy's exports pick up in September with China a major buyer


By UnreguserLi Jie

ROME, Oct. 28 (Xinhua) -- Italy's exports to countries outside the European Union (EU) continued to improve in September, growing by 8.3 percent compared to the previous month and by 3.0 percent year-on-year, the country's National Institute of Statistics (ISTAT) said on Wednesday.

ISTAT said that trade with China led the way, increasing by 33.0 percent compared to the previous month.

Exports to the four-nation South American trade bloc Mercosur (Argentina, Brazil, Paraguay and Uruguay), Switzerland, Turkey and the United States also saw double-digit increases compared to August, ISTAT said.

Compared to September 2019, the sector that saw the biggest growth (11.1 percent) was capital goods.

With the strengthening of exports in September, ISTAT said Italy's trade surplus (the difference between the value of exports and imports) swelled to 5.3 billion euros (6.23 billion U.S. dollars), far exceeding the surplus of 2.8 billion euros registered a year earlier.

When imports of emergency products -- medical and protective equipment tied to Italy's efforts to curb the spread of coronavirus -- are excluded from calculations, the trade surplus was 7.0 billion euros in September.

The improving export performance is a positive sign for Italy's economy as it struggles to emerge from the economic slowdown sparked by the coronavirus pandemic. But it comes as the country's coronavirus infection rate surges to new highs and as the government has implemented tighter health and safety rules. (1 euro = 1.17 U.S. dollar)

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

Next In World

AstraZeneca vaccine can be up to 90% effective; COVID-19 reinfection unlikely for at least six months
Drip by drip, U.S. Republicans slowly break from Trump election claims
Spain to make coronavirus vaccination optional, sources say
Biden to name Kerry as U.S. climate czar, emphasizing diplomacy's role in the fight
France's new COVID-19 cases slow again before possible lockdown loosening
National Retail Federation expects U.S. holiday sales to grow despite pandemic
New Trump rule may require some African tourists to pay up to $15,000 in bonds
European researchers conduct 'biggest ever' COVID supercomputer test
China city builds museum for World Heritage Site ruins
'Direction of travel is set' in climate fight, says Paris accord architect

Stories You'll Enjoy