Italy's trade surplus decreased to EUR 3.78 billion in October 2018 from EUR 4.91 billion in the same month of the previous year, but well above market expectations of EUR 1.89 billion. Imports surged 14.2 percent to EUR 39.9 billion and exports advanced at a slower 9.6 percent to EUR 43.7 billion. Balance of Trade in Italy averaged 907.76 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
2018-09-17 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 €3.784B €1.274B €1.89B €2.5B
2019-01-10 10:00 AM Balance of Trade €3.784B
2019-02-15 09:00 AM Balance of Trade € 5.1B
2019-03-19 10:00 AM Balance of Trade



Italy Trade Surplus Narrows 23% YoY in October



Italy's trade surplus decreased to EUR 3.78 billion in October 2018 from EUR 4.91 billion in the same month of the previous year, but well above market expectations of EUR 1.89 billion. Imports advanced faster than exports.

Imports jumped 14.2 percent from a year earlier to EUR 39.93 billion in October 2018 from EUR 34.96 billion a year ago, mainly boosted by higher purchases of: crude oil (32.3 percent); natural gas (29.8 percent); metals (19.3 percent); machinery and equipment (7.7 percent); pharmaceuticals (31.7 percent); chemicals and chemical products (9.2 percent); food products (4.2 percent) and vehicles (7.4 percent). 

Increases were seen in purchases from China (25.5 percent), OPEC countries (33.9 percent), the US (16 percent), Germany (10.2 percent); France (2.1 percent), Belgium (30 percent), the Netherlands (2.4 percent), Spain (0.3 percent) and the UK (8.3 percent).

Exports rose at a slower 9.6 percent to EUR 43.72 billion from EUR 39.88 billion in October 2017, mainly due to sales of: machinery and equipment (10 percent); other transport means (13.7 percent); food products (9.8 percent); pharmaceuticals (45 percent); metals (8.9 percent); chemicals & chemical products (12.7 percent); electrical devices (4.6 percent) and electronics (6.1 percent). In contrast, shipments declined for crude oil (-98.9 percent); natural gas (-59.9 percent) and vehicles (-8.1 percent).

Exports went up mostly to the US (22.3 percent), Switzerland (16.2 percent), OPEC countries (10.8 percent), China (1.4 percent), ASEAN countries (5.8 percent), Germany (7.7 percent) and France (4.6 percent). Conversely, sales decreased to Turkey (-23.7 percent) and MERCOSUR countries (-14.9 percent).

With the European Union countries, Italy's trade surplus widened to EUR 0.744 billion in October from EUR 0.635 billion in the same month of the previous year.  

Considering the January to October period of 2018, the trade surplus narrowed to EUR 32.27 billion from EUR 37.89 billion in October 2017, as imports grew 5.9 percent to EUR 353.58 billion and exports advanced at a slower 3.8 percent to EUR 385.85 billion.



Istat | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
12/17/2018 12:01:27 PM



Italy Trade Last Previous Highest Lowest Unit
Balance of Trade 3784.00 1274.00 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 39932.08 35641.16 39932.08 5285.80 EUR Million [+]
Exports 43715.80 36915.52 43715.80 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
3784.00 1274.00 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 13952.30 Oct/18
France -4052.00 Oct/18
Germany 18300.00 Oct/18
India -16670.00 Nov/18
Indonesia -2047.00 Nov/18
Italy 3784.00 Oct/18
Japan -737.30 Nov/18
Mexico -2936.00 Oct/18
Netherlands 4850.00 Oct/18
Russia 19697.00 Oct/18
Saudi Arabia 162782.00 Jun/18
Singapore 3799.41 Nov/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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