Italy Current Account Surplus Narrows in July

Italy’s current account surplus narrowed to EUR 7,384.1 million in July 2026 from EUR 7,846.8 million in the corresponding month of the previous year. The services surplus narrowed to EUR 1,102.9 million from EUR 1,313.2 million last year, while the primary income balance swung to a deficit of EUR 116.0 million from a surplus of EUR 412.1 million. At the same time, the secondary income deficit widened to EUR 1,791.3 million from EUR 1,697.7 million. These were offset by a wider goods surplus, increasing to EUR 8,188.6 million from EUR 7,819.2 million.

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.