Italy Trade Surplus Larger than Expected


Italy’s trade surplus fell to EUR 3.84 billion in November of 2018 from EUR 4.67 billion in the corresponding month of the previous year, but well above market expectations of EUR 2.89 billion. Imports advanced 3.4 percent from a year earlier while exports went up at a softer 1 percent.

Imports rose 3.4 percent from a year earlier to EUR 37.29 billion in November of 2018, boosted by higher purchases of manufacturing products (2.9 percent), namely base metals and metal products (0.1 percent); computer and electronics (4.6 percent); machinery and appliances (1.4 percent) and textiles and clothing (4.8 percent). In addition, imports of mining and quarrying products rose 13.5 percent and products of waste treatment and rehabilitation activities advanced 1.9 percent. 

Increases were seen in purchases from China (24.2 percent); OPEC countries (12.6 percent); France (1.3 percent) and Belgium (8.3 percent). On the other hand, imports declined from the US (-9.1 percent); Germany (-1.2 percent); the Netherlands (-7.8 percent) and the UK (-13.5 percent).

Exports went up at a softer 1 percent to EUR 41.13 billion in November of 2018, mainly due to sales of manufacturing products (1.2 percent), namely clothing and footwear (8.1 percent). By contrast, exports of transport equipment fell 11.9 percent and machinery and appliances decreased 1.4 percent.

Shipments advanced mostly to the US (15.8 percent); Austria (7.6 percent); the Netherlands (4.9 percent) and China (3.3 percent). Conversely, exports declined to Turkey (-24.9 percent); Switzerland (-20.2 percent); ASEAN countries (-4.2 percent) and OPEC countries (-0.2 percent).

With the European Union countries, Italy recorded a trade surplus of EUR 0.513 billion in November, as exports rose 1.4 percent while imports decreased 0.7 percent. 

Considering the January to November period of 2018, Italy posted a trade surplus of EUR 36.14 billion, as imports grew 5.7 percent to EUR 390.87 billion and exports advanced at a slower 3.5 percent to EUR 427.02 billion.

Italy Trade Surplus Larger than Expected


Istat | Agna Gabriel | agna.gabriel@tradingeconomics.com
1/17/2019 9:44:59 AM