Italy Trade Surplus Widens in September


Italy's trade surplus increased to EUR 4 billion in September of 2017 from EUR 2.76 billion in the same month of the previous year and above market consensus of EUR 3.42 billion. Exports surged 5.7 percent from a year earlier to EUR 38.06 billion mostly driven by sales of coke and refined petroleum products. Meantime, imports advanced at a slower 5.5 percent to EUR 34.07 billion, underpinned by purchases of crude oil and coke and refined petroleum products. With European Union countries, the trade surplus shrank to EUR 0.47 billion from EUR 0.83 billion in September 2016.

Year-on-year, exports rose 5.7 percent to EUR 38.06 billion from EUR 36 billion, driven by higher sales of: Coke and refined petroleum products (35.2 percent); pharmaceutical, chemical and botanical articles (16.7 percent); transport equipment (13.3 percent) and basic metals and metal products (7.6 percent). In contrast, exports fell for other products of processing of non-metallic minerals (-3 percent); vehicles (-1.4 percent) and paper and paper products, printing and reproduction of media (-1.3 percent).

The biggest increases in shipments were recorded for Russia (22.5 percent); Turkey (20.9 percent); China (18.7 percent); Mercosur countries (15.5 percent) and Belgium (12.7 percent). Conversely, exports fell to OPEC countries (-5.3 percent) and to the United Kingdom (-3.7 percent).

Imports advanced 5.5 percent to EUR 34.07 billion from EUR 32.30 billion in September of 2016, led by gains in purchases of: Crude oil (24.5 percent); coke and refined petroleum products (22.6 percent) and electrical equipment (14.5 percent). Meanwhile, imports declined for sport and leisure articles (-9.5 percent); pharmaceutical, chemical and botanical articles (-6.9 percent); vehicles (-4.1 percent) and natural gas (-3.3 percent). 

Imports grew mostly from India (16.2 percent); Poland (15.4 percent); OPEC countries (12.5 percent); Germany (10.6 percent) and the Netherlands (9.4 percent). On the other hand, purchases declined from: Switzerland (-10.2 percent); ASEAN countries (-8.7 percent); the United Kingdom (-8.6 percent); Japan (-8 percent) and Czech Republic (-2.2 percent).

Considering the January to September period, the global trade surplus shrank to EUR 32.37 billion from EUR 35.76 billion in the same period of 2016, as imports grew 9.5 percent and exports rose at a slower 7.3 percent.

Italy Trade Surplus Widens in September


Istat | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
11/16/2017 10:18:45 AM