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Ecomotive - Archive

17/07/2017
TWO-SPEED IMPORT-EXPORT LEVELS FOR THE AUTOMOTIVE SECTOR, BUT THE BALANCE IS POSITIVE

Ecomotive: Automotive economy

 

The Italian market’s good performance boosted imports by around 6 million Euro, whether intra-group or outright foreign brands, which are not counterbalanced by exports, though 7% higher.

Paolo Castiglia

The market is currently featuring a positive business and consumer confidence index, with investments also supported by tax incentives aimed at favouring the purchase of instrumental goods such as Super-Ammortization schemes and Sabatini Law. Early figures in 2017 seem to confirm last year’s trends, which scored a positive balance in component exports, confirming the good performance of the segment on foreign markets. As in 2015, automotive exports, coupled with the domestic demand, have in fact supported the production volume of the entire sector.

This is the case for the whole automotive industry, with a growth of 8.8% in 2016 and with an estimated market growth in the first quarter of this year of 19% over the same period last year, with 6.450 units sold against 5.422.

In general, exports related to components reached 19.97 billion Euro, up by 0.3% over 2015 levels. In the same period, import volumes scored 14.44 billion Euro, with a 2.8% increase over 2015.

The trade balance thus shows a positive balance of 5.52 billion Euro despite a 5.7% drop over the previous year. In 2016, Italy's total exports rose by 1.1% (in value) over the previous year, while imports fell by 1.4% (in value) which, net of energy imports, is equivalent to a 1.5% increase. The trade surplus stands at 51.6 billion Euro, which becomes 78 billion net of energy imports.

The automotive industry, as a whole, exported goods for a total value of 39 billion Euro (+3.5%) in 2016, while imports exceed 43 billion (+ 17%), generating a negative balance – last registered in 2011 – of about 4 billion Euro.

The Italian market’s good performance boosted imports by around 6 million Euro, whether intra-group or outright foreign brands, which are not counterbalanced by exports, though 7% higher.

We do well to remember that automotive components alone represent 4.8% of all Italian exports, in line with 2015 values, while imports account for 3.9% of the country’s total. In 2015, components closed with exports up by 3.3%, for a value of 19.91 billion Euro, with a positive trade balance of 5.86 billion Euro.

"The market is confirmed stable" - said Sandro Mantella, co-ordinator of Unrae’s trailers and semitrailers unit – “and the higher estimates for the first four months of the year, in contrast with the first quarter which recorded a -1.2% decrease over the same period in 2016, is due mainly to the end of the 2016 incentive terms, which pushed up the April figure as we expected. In the meantime we are still waiting for the Government to issue rules and procedures to facilitate the access to the investment funds set for 2017, confirm the incentives under the Sabatini Law as well as the Super Amortization, even though a physiological decline in the demand can be reasonably expected".

"Among our priorities – recalls Sandro Mantella – there is a need for transparency as far as market reading through available statistical data, as there are still far too many areas of vagueness and imprecisions. Furthermore, procedures related to the registration of vehicles fitted with approved components must be simplified and equally necessary is the liberalization of trailer rentals as is already the case in other EU member countries".

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