Italy Posts Widest Trade Surplus since 2017


Italy's trade surplus rose sharply to EUR 5.728 billion in June 2019 from EUR 5.174 billion in the same month of the previous year and beating market expectations of a EUR 4.23 billion surplus. It was the largest trade surplus since July 2017, as imports fell 5.5 percent and exports decreased at a softer 3.5 percent.

Imports tumbled 5.5 percent year-on-year to EUR 35.05 billion in June 2019, mainly dragged down by lower purchases of basic metals and metal products (-11.5 percent); chemicals (-7.1 percent); pharmaceuticals and botanical articles (-6.3 percent); transport equipment (-0.1 percent); textiles, clothing and leather (-1.4 percent) and food, beverages & tobacco (-10 percent). 

Among major trading partners, imports fell primarily from Germany (-9.1 percent), France (-6.1 percent), the Netherlands (-9.9 percent), Spain (-2.8 percent), Belgium (-1.4 percent), China (-0.8 percent), Russia (-2.5 percent) and Switzerland (-17.8 percent). In contrast, shipments grew solidly to the US (7.1 percent).

Exports decreased 3.5 percent from a year earlier to EUR 40.78 billion, on lower sales of machinery & equipment (-2.1 percent); transport equipment (-19.9 percent); basic metals and metal products (-5.9 percent) and rubber and plastic materials, other non-metallic mineral processing products (-7 percent). Conversely. sales rose strongly for pharmaceuticals and botanical articles (34.5 percent).

Among major trading partners, exports declined to Germany (-8 percent), France (-3.8 percent), the UK (-2.4 percent), China (-4.6 percent) and Switzerland (-13.5 percent). In contrast, they rose to the US (4.1 percent), Japan (27.9 percent) and Spain (1.6 percent).

With European Union countries, the country's trade surplus widened to EUR 1.876 billion from EUR 1.623 billion in June of 2018.

Considering the first half of the year, the country's trade surplus rose to EUR 22.11 billion from EUR 19.06 billion a year earlier.

Italy Posts Widest Trade Surplus since 2017


Istat | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
8/9/2019 11:09:41 AM