Italy Trade Deficit Narrows in January


Italy's trade deficit narrowed to EUR 0.09 billion in January of 2018 from EUR 0.58 billion in the same month a year earlier, compared to market expectations of a EUR 4.87 billion surplus.

Exports jumped 9.5 percent year-on-year to EUR 34.69 billion in January from EUR 31.68 billion, boosted by higher sales of pharmaceutical, chemical-medicinal and botanical articles (25.9 percent); basic metals and metal products (17.1 percent); substances and chemical products (14.4 percent); food, beverages and tobacco (12.8 percent) and clothing, textiles and accessories (8.0 percent). On the other hand, exports of agriculture, forestry and fishing declined by 2.0 percent.

Exports rose mainly to Switzerland (22.0 percent), Poland (21.5 percent), India (19.6 percent), Czech Republic (19.3 percent) and Belgium (14.4 percent). Meanwhile, sales decreased to OPEC countries (-13.4 percent), ASEAN (-7.2 percent), Japan (-5.3 percent) and the US (-1.4 percent) 

Imports increased 7.8 percent to 34.78 EUR billion in January from EUR 32.26 billion a year earlier, mostly due to higher purchases of substances and chemical products (18.4 percent); basic metals and metal  (17.4 percent); food, beverages and tobacco (10.1 percent); transport (9.1 percent) and clothing, textiles and accessories (8.8 percent). Meantime, imports of mineral products fell by 8.7 percent. 

Imports advanced mainly to India (39.0 percent), OPEC countries (18.6 percent), Belgium (17.7 percent), Germany (17.5 percent) and Romania (14.9 percent). In contrast, imports went down from Switzerland (-13.0 percent), Russia (-9.9 percent), ASEAN countries (-9.7 percent), Spain (-4.5 percent) and the US (-2.4 percent).

With European Union countries, the trade surplus widened to EUR 439 million from EUR 315 million in January last year.

Italy Trade Deficit Narrows in January


Istat | Stefanie Moya | stefanie.moya@tradingeconomics.com
3/19/2018 11:03:48 AM