Italy's trade surplus widened to EUR 7.631 billion in July 2019 from EUR 5.659 billion in the same month a year ago and beating market expectations of a EUR 4.71 billion surplus. This is the largest trade surplus since July 2016, as exports hit their highest ever monthly figure, boosted by shipments of pharmaceuticals and botanical articles. Imports grew much slower, as higher purchases of basic metals and transport equipment were partly offset by lower acquisitions of chemicals and refined petroleum products. Balance of Trade in Italy averaged 989.90 EUR Million from 1991 until 2019, reaching an all time high of 7902.67 EUR Million in July of 2015 and a record low of -6389.30 EUR Million in January of 2011.

Balance of Trade in Italy is expected to be 4400.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Italy to stand at 4840.00 in 12 months time. In the long-term, the Italy Balance of Trade is projected to trend around 3900.00 EUR Million in 2020, according to our econometric models.

Italy Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2019-06-19 08:00 AM Balance of Trade Apr €2.885B €4.579B €4.55B €2.2B
2019-07-16 08:00 AM Balance of Trade May €5.347B €2.885B €2.91B €1.9B
2019-08-09 08:00 AM Balance of Trade Jun €5.728B €5.385B €4.23B €1.5B
2019-09-18 09:00 AM Balance of Trade Jul €7.631B €5.701B €4.71B €3.2B
2019-10-17 08:00 AM Balance of Trade Aug €7.631B €1.1B
2019-11-15 09:00 AM Balance of Trade Sep € 4.4B
2019-12-17 09:00 AM Balance of Trade Oct €2.6B



Italy Posts Biggest Trade Surplus in 3 Years

Italy's trade surplus widened to EUR 7.631 billion in July 2019 from EUR 5.659 billion in the same month a year ago and beating market expectations of a EUR 4.71 billion surplus. This is the largest trade surplus since July 2016, as exports hit their highest ever monthly figure, boosted by shipments of pharmaceuticals and botanical articles. Imports grew much slower, as higher purchases of basic metals and transport equipment were partly offset by lower acquisitions of chemicals and refined petroleum products.

Exports jumped 6.2 percent year-on-year to a record high of EUR 45.38 billion in July 2019, driven by shipments of pharmaceuticals and botanical articles (27.3 percent); food, beverages and tobacco (13.9 percent), leather goods, excluding clothing, and similar (15.3 percent), means of transport, excluded vehicles (13.1 percent); articles of clothing, including leather and fur (12.8 percent); basic metals and metal products (6.0 percent) and chemical products (4.1 percent). In contrast, lower sales were registered for refined petroleum products (-19.4 percent); vehicles (-1.2 percent) and electrical apparatus (-4 percent).

Among major trading partners, exports rose to Germany (2.6 percent), France (4.6 percent), Spain (8.9 percent), the UK (5.9 percent), Belgium (2.8 percent), the Netherlands (12.2 percent), Poland (13 percent), Switzerland (32.8 percent), the US (18 percent) and Japan (27.3 percent). However, overseas sales were down to China (-10.1 percent), Russia (-1.0 percent) and Turkey (-3.3 percent).

Imports advanced 1.8 percent from a year earlier to EUR 37.75 billion, driven by basic metals and metal products (8.2 percent); transport equipment (5.1 percent), of which vehicles (1.3 percent); pharmaceuticals and botanical articles (8.0 percent); textiles, clothing, leather & accessories (5.5 percent); food (4.7 percent). Meanwhile, purchases declined for chemical products (-3.4 percent); refined petroleum products (-9.0 percent) and wood & wood products (-0.4 percent).

Among major trading partners, imports grew from Germany (2.0 percent), the Netherlands (0.9 percent), Spain (4.7 percent), Belgium (0.7 percent), the UK (6 percent), Russia (16.4 percent), Switzerland (20.5 percent), China (15 percent) and Turkey (8.1 percent). Conversely, acquisitions declined from France (-1.8 percent), Austria (-0.4 percent), the US (-0.5 percent) and India (-23.2 percent).

With European countries, the country's trade surplus widened significantly to EUR 3.575 billion from EUR 2.660 billion in July 2018.

Considering the first seven months of the year, the country's trade surplus rose to EUR 29.71 billion from EUR 24.72 billion a year earlier.



Istat | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
9/18/2019 11:03:33 AM



Italy Trade Last Previous Highest Lowest Unit
Balance of Trade 7630.87 5700.53 7902.67 -6389.30 EUR Million [+]
Current Account 8420.80 5117.60 19332.70 -10633.40 EUR Million [+]
Current Account to GDP 2.50 2.80 2.90 -3.70 percent [+]
Imports 37751.33 35086.42 39938.06 5285.80 EUR Million [+]
Exports 45382.20 40786.96 45382.20 5946.40 EUR Million [+]
External Debt 2134121.00 2113580.00 2177794.00 524899.00 EUR Million [+]
Terms of Trade 104.90 104.10 105.50 83.40 Index Points [+]
Capital Flows 11006.50 7180.50 17094.70 -27541.10 EUR Million [+]
Remittances 117.08 148.11 202.52 96.92 EUR Million [+]
Gold Reserves 2451.84 2451.80 2451.84 2451.80 Tonnes [+]
Terrorism Index 2.74 2.75 3.71 1.98 [+]
Tourism Revenues 5738.24 4658.79 5854.26 1128.47 EUR Million [+]
Weapons Sales 611.00 802.00 1715.00 1.00 USD Million [+]
Crude Oil Production 77.00 81.00 120.00 23.00 BBL/D/1K [+]
Foreign Direct Investment 2845.00 -2621.00 14203.00 -10787.00 EUR Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Italy Balance of Trade

In 2017, Italy's trade surplus fell to EUR 47 billion from a record high of EUR 50 billion in the previous year, as imports jumped 9 percent to EUR 401 billion, the highest level since 2011, and exports rose at a softer 7 percent to an all-time high of EUR 448 billion. The biggest trade surpluses were recorded with the United States, the United Kingdom, France, Switzerland, Poland and Japan; and the biggest trade deficits with China, the Netherlands, Germany, Belgium and Russia. This page provides the latest reported value for - Italy Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Italy Balance of Trade - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
7630.87 5700.53 7902.67 -6389.30 1991 - 2019 EUR Million Monthly
Current Prices, NSA




Country Last Previous
Argentina 951.00 Jul/19
Australia 7268.00 Jul/19
Brazil 3280.00 Aug/19
Canada -1124.40 Jul/19
China 348.30 Aug/19
Euro Area 24789.70 Jul/19
France -4607.00 Jul/19
Germany 21449.00 Jul/19
India -13450.00 Aug/19
Indonesia 85.10 Aug/19
Italy 7630.87 Jul/19
Japan -136.30 Aug/19
Mexico -1117.00 Jul/19
Netherlands 4127.00 Jul/19
Russia 11224.00 Jul/19
Saudi Arabia 131636.00 Mar/19
Singapore 3787.85 Aug/19
South Africa -2880.82 Jul/19
South Korea 1723.00 Aug/19
Spain -1532700.00 Jun/19
Switzerland 1152.71 Aug/19
Turkey -3191.93 Jul/19
United Kingdom -219.00 Jul/19
United States -53989.00 Jul/19


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