Italian exports to the United States rebounded in February (+9.6% year-on-year) after a decline in January, the National Institute of Statistics (Istat) reported on Friday.
In a context of fluctuating tariffs, “the dynamic of exports to the United States remains high, but growth is concentrated in pharmaceuticals and other means of transportation (excluding automobiles),” Istat stated in a press release.
The United States is Italy’s main market outside of the EU, accounting for 10.8% of exported value.
Imports from the United States also saw a strong rebound in February (+40.4% year-on-year), according to Istat without providing further details.
Overall, exports to countries outside the European Union increased in February (+4.9% month-on-month, +2.5% year-on-year), driven in part by exceptional sales of ships, following a decline in January.
The increase in exports to Switzerland, the United States, and oil-producing countries (OPEC) more than offset a decline in exports to Turkey and the United Kingdom in February.
Imports rebounded month-on-month (+8.5%) but declined slightly year-on-year (-0.4%).
Prior to the conflict in the Middle East, a significant decrease in energy purchases was offset year-on-year by a sharp increase in non-durable consumer goods, as reported by Istat.
Imports from OPEC countries markedly decreased while imports from China rose.
