Overview

• Istat’s August release shows exports to the United States down 21.2% year over year, accounting for more than half of the annual drop in sales to non‑EU markets.
• Imports from the United States rose 68.5% year over year, even as overall extra‑EU imports decreased 7.1% on the month with steep falls from the U.K., OPEC suppliers, India, China and Mercosur.
• Extra‑EU exports fell 8.1% month over month after two months of strong growth, led by declines in capital goods and non‑durable consumer goods.
• Istat notes the measured monthly export contraction would narrow to 5.8% if July shipbuilding sales were excluded.
• Among major partners, exports increased only to the United Kingdom (+4.9%) and Switzerland (+4.7%), while a consumer group publicly tied the U.S. swing to recent tariff changes and urged policy and business responses.