Italian export earnings up – Food Industry Report – Brief Article
Despite its chronic trade balance deficit in food products, Italy has managed to register an increase in its export earnings bigger than its spending on imports in the first six months of 2002.
As a result, according to Ismea, the deficit stood at 2 812m [euro], a decline of 3.8% over the January-July period in 2001. Ismea puts food imports at 11 600m [euro] (up 3.1%) and exports at 8 800m [euro] (up 5.5%).
Weighing heavily in the balance-of-trade deficit is the livestock sector with 1 498m [euro], grains with 544m [euro], the dairy sector with 613m [euro] and fishery products with 1 200m [euro].
On the plus side, wine exports of went up to 1 228m [euro], pasta grew by 7.4% to 877m [euro] but fresh and canned fruits and vegetables declined by 5% to 871m [euro]. In terms of volume, imports stood at 17 million tonnes (up 6%) and exports at 12.5 million tonnes (up 4.7%).
COPYRIGHT 2002 Agra Europe Ltd.
COPYRIGHT 2003 Gale Group