Italy trade surplus widened to EUR 3.928 billion in August of 2020 from EUR 2.598 billion a year earlier. Exports went down 7 percent to EUR 27.72 billion although sales of consumer goods saw a rebound (+1.2 percent) as the global economy reopened. Meanwhile, imports continue to shrink at double digits (-12.6 percent to EUR 23.79 billion), with purchases of energy (-40.6 percent) and capital goods (-19.8 percent) recording the biggest drops. Sales to the Euro Area accounted for 40 percent of total exports and were down 3.5 percent, mainly shipments to Germany (-1.7 percent) while sales increased to France (1.7 percent) and the Netherlands (1.2 percent). Imports from the Euro Area went down 10.4 percent. Considering the first eight months of the year, exports went down 13.3 percent and imports 16.4 percent due to the coronavirus crisis.
Balance of Trade in Italy averaged 1122.93 EUR Million from 1991 until 2020, reaching an all time high of 9694 EUR Million in July of 2020 and a record low of -6389.31 EUR Million in January of 2011. 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 - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: National Institute of Statistics (ISTAT)
Balance of Trade in Italy is expected to be 5400.00 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 4200.00 in 12 months time. In the long-term, the Italy Balance of Trade is projected to trend around 3900.00 EUR Million in 2021 and 4900.00 EUR Million in 2022, according to our econometric models.