Italy Current Account Surplus Narrows in June

Italy’s current account surplus amounted to EUR 5,838.8 million in June 2026, narrowing from EUR 6,639.4 million in the same month a year earlier, as surpluses in goods, services and primary income declined. The goods surplus fell to EUR 4,852.4 million from EUR 5,625.6 million, while the services surplus edged down to EUR 1,539.4 million from EUR 1,558.0 million. The primary income surplus also decreased to EUR 735.6 million from EUR 761.1 million. Meanwhile, the secondary income deficit narrowed slightly to EUR 1,288.7 million from EUR 1,305.2 million last year.

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).