Italy's trade surplus narrowed sharply to EUR 1.27 billion in September 2018 from EUR 4.26 billion in the same month of the previous year, and well below market expectations of EUR 2.87 billion. It was the smallest trade surplus since a deficit was recorded in January, as imports rose 5.7 percent while exports fell 2.8 percent. Balance of Trade in Italy averaged 899.12 EUR Million from 1991 until 2018, 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 5100.00 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 4400.00 in 12 months time. In the long-term, the Italy Balance of Trade is projected to trend around 5400.00 EUR Million in 2020, according to our econometric models.

Italy Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2018-08-10 08:00 AM Balance of Trade €5.071B €3.366B €3.41B € 1.8B
2018-09-17 08:00 AM Balance of Trade €5.676B €5.174B €4.82B €6.6B
2018-10-16 10:00 AM Balance of Trade €2.564B €5.659B €4.34B €2.9B
2018-11-16 10:00 AM Balance of Trade €1.274B €2.491B €2.87B € 4.2B
2018-12-17 09:00 AM Balance of Trade €1.274B €2.5B
2019-01-10 10:00 AM Balance of Trade
2019-02-15 09:00 AM Balance of Trade € 5.1B



Italy September Trade Surplus Smaller than Expected



Italy's trade surplus narrowed sharply to EUR 1.27 billion in September 2018 from EUR 4.26 billion in the same month of the previous year, and well below market expectations of EUR 2.87 billion. It was the smallest trade surplus since a deficit was recorded in January.

Imports jumped 5.7 percent from a year earlier to EUR 35.64 billion in September from EUR 33.73 billion, led by gains in purchases of: crude oil (35.9 percent); natural gas (50 percent); metals (6.9 percent); machinery (7 percent) and pharmaceuticals (9 percent). Meanwhile, imports of food products and vehicles fell 7.4 percent and 2.9 percent, respectively.

The rise in imports mainly reflected the increase in purchases from China (14.3 percent), the US (26.3 percent), Belgium (16.4 percent), ASEAN countries (34.2 percent) and Russia (19.7 percent). By contrast, imports fell from Spain (-8.7 percent), Germany (-2.4 percent) and France (-2 percent).

Exports dropped 2.8 percent to EUR 36.92 billion in September from EUR 37.99 billion a year ago, mainly due to lower sales of: other transport means (-13.1 percent); machinery (-3.2 percent); food products (-4.3 percent); pharmaceuticals (-5.4 percent); electrical devices (-4.8 percent); other manufactured goods (-5.6 percent); and vehicles (-3.4 percent). By contrast, exports of coke and refined petroleum products increased 6 percent and those of electronics rose 4.4 percent.

Exports fell mostly to the US (-8.6 percent), Turkey (-31 percent), Russia (-24.7 percent), China (-17.2 percent), Japan (-17.3 percent) and MERCOSUR countries (-18.2 percent). Meanwhile, sales rose to the Netherlands (11.3 percent), ASEAN countries (4.7 percent) and Poland (2.4 percent).

With European Union countries, Italy's trade surplus widened to EUR 1.183 billion in September from EUR 0.747 billion last year. 


Istat | Joana Ferreira | joana.ferreira@tradingeconomics.com
11/16/2018 10:47:20 AM


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Italy Trade Last Previous Highest Lowest Unit
Balance of Trade 1274.37 2491.30 7902.67 -6389.30 EUR Million [+]
Current Account 3154.00 5049.00 19332.70 -10633.40 EUR Million [+]
Current Account to GDP 2.80 2.60 2.90 -3.70 percent [+]
Imports 35641.16 28361.44 38526.50 5285.80 EUR Million [+]
Exports 36915.52 30852.74 42747.61 5946.40 EUR Million [+]
External Debt 2138556.00 2177794.00 2177794.00 524899.00 EUR Million [+]
Terms of Trade 99.70 99.60 105.50 83.40 Index Points [+]
Capital Flows 1040.00 6172.00 17094.70 -27541.10 EUR Million [+]
Remittances 141.61 154.33 202.52 96.92 EUR Million [+]
Gold Reserves 2451.80 2451.80 2451.84 2451.80 Tonnes [+]
Terrorism Index 2.75 2.36 3.71 1.98 [+]
Tourism Revenues 4814.15 6037.83 6037.83 1128.47 EUR Million [+]
Weapons Sales 660.00 670.00 1715.00 8.00 USD Million [+]
Crude Oil Production 83.00 80.00 120.00 23.00 BBL/D/1K [+]
Foreign Direct Investment 153.00 1848.00 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 December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1274.37 2491.30 7902.67 -6389.30 1991 - 2018 EUR Million Monthly
Current Prices, NSA




Country Last Previous
Argentina 277.00 Oct/18
Australia 2316.00 Oct/18
Brazil 4062.09 Nov/18
Canada -1165.20 Oct/18
China 447.40 Nov/18
Euro Area 13141.70 Sep/18
France -4052.00 Oct/18
Germany 18300.00 Oct/18
India -16670.00 Nov/18
Indonesia -1819.90 Oct/18
Italy 1274.37 Sep/18
Japan -449.26 Oct/18
Mexico -2936.00 Oct/18
Netherlands 4850.00 Oct/18
Russia 19697.00 Oct/18
Saudi Arabia 162782.00 Jun/18
Singapore 4520.91 Oct/18
South Africa -5549.90 Oct/18
South Korea 5139.00 Nov/18
Spain -3297100.00 Sep/18
Switzerland 2637.00 Oct/18
Turkey -456.10 Oct/18
United Kingdom -3300.00 Oct/18
United States -55488.00 Oct/18


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