In the third quarter of this year, the FOB value of Italian exports to extra UE27, or 71.7 billion euros, posted a -2.6% percent drop on the same period in 2022, while the CIF value of imports, which it has totaled 60.7 billion, marked a dramatic decrease of -32.2% percent. The conjunctural changes in export and import flows showed reductions of -5.9% percent and -6.8% percent respectively in the second quarter of 2023.

Seasonally adjusted figures show for the third quarter of this year export and import values with extra UE27 of 75.1 billion and 62.9 billion euros, respectively, with a positive conjuncture change of 0.5% percent and a negative of -4.4%. The seasonally adjusted figures show negative tendential changes and equal to -1.4% and -31.3% respectively.

In September 2023 alone, ISTAT said it was estimated to have a trade interchange with the UE27, a joint decline in both flows, wider for exports (-6.9% percent) than imports. (-2.1%). The contraction on a monthly basis in exports is explained by the lower sales of capital goods (-12.5%) and non-durable consumer goods (-9.3%). Instead, exports of durable consumer goods (+ 6.5%) and energy (+ 2.5%) are increasing ; almost stationary goods of intermediate goods (+ 0.2%). From the import side, excluding energy (+ 8.5%), joint reductions are detected for all groupings ; the most marked are capital goods (-9.0%), and durable consumer goods (-8.7%).

The Istat said in September 2023 the trade balance with the extra UE27 countries was positive and was +2.780 million (-5,430 million in September 2022). The energy deficit (-5,493 million) is more than halved compared with a year earlier (-12,096 million), while the surplus in the interchange of non-energy products, amounting to 8,273 million, is high and increasing compared to September 2022 (+ 6,666 million).

In September 2023, annual reductions in exports to almost all major partner countries were found to be extra UE27, with the largest in China (-14.0%), the United Kingdom (-13.2%), OPEC countries (-12.1%) and the United States (-11.9%). Instead, sales to MERCOSUR countries (+ 4.0%) and Japan (+ 2.2%) are increasing. Except from the United States (+ 14.4%), imports from all major partner countries extra UE27 have been falling sharply on an annual basis. Purchases from Russia recorded the broader downward trend (-86.2% percent) ; it also marked reductions in purchases from OPEC countries (-36.4% percent), ASEAN countries (-36.3% percent) and China (-34.4% percent).