Italy Current Account Surplus Widens Sharply in April

Italy’s current account surplus shrank to EUR 593.9 million in May 2026 from EUR 1,906.9 million in the same month of the previous year. This marked the smallest surplus since a deficit in January, as the goods surplus declined to EUR 5,224.4 million from EUR 6,171.5 million, while the services balance swung to a shortfall of EUR 118.2 million from a surplus of EUR 173.9 million a year earlier. The primary income deficit also widened to EUR 4,034.4 million from EUR 3,746.7 million. Meanwhile, the secondary income gap narrowed to EUR 477.9 million from EUR 691.8 million.

Italy posted a current account surplus of EUR 2.3 billion in April 2026, more than doubling the EUR 1.1 billion recorded in the corresponding month last year. The goods surplus expanded sharply to EUR 5.0 billion from EUR 3.3 billion in the previous year. The secondary income deficit also narrowed to EUR 0.9 billion from EUR 1.1 billion. On the other hand, deficits widened in both the services account (EUR -0.5 billion vs EUR -0.2 billion in April 2025) and the primary income (EUR -1.3 billion vs EUR -0.9 billion).

Italy’s current account surplus widened sharply to EUR 1.7 billion in March 2026 from EUR 0.3 billion in the same month a year ago. The primary income surplus rose significantly to EUR 2.3 billion, more than doubling from EUR 1.2 billion a year ago. The deficits in the services account (EUR -1.9 billion vs EUR -2.1 billion in March 2025) and secondary income (EUR -2.4 billion vs EUR -2.5 billion) also narrowed. Meanwhile, the goods surplus fell slightly to EUR 3.7 billion from EUR 3.8 billion.