Italy Trade Surplus Narrows More than Expected

Italy recorded a trade surplus of EUR 2.482 billion in April 2025, below market expectations of EUR 2.75 billion and down from a surplus of EUR 4.829 billion in the same month of the previous year.

This marked the smallest surplus since the trade deficit recorded in January 2025.

Imports rose by 5.4% year-on-year to EUR 50.426 billion, with purchases from non-EU countries increasing significantly (11.5%) compared to those from EU countries (0.8%).

The growth in imports was primarily driven by pharmaceutical, medicinal chemical, and botanical products (76.9%) and electricity, gas, steam, and air conditioning supply (25.5%).

Meanwhile, exports grew by a modest 0.4% to EUR 52.908 billion, supported by higher sales to EU markets (2.1%), while exports to non-EU markets declined (-1.4%).

Among products, export growth was strongest in pharmaceutical, medicinal chemical, and botanical products (30.1%) and basic metals and metal products (5.5%).