Italy Balance of Trade

Last Release

Feb 29, 2024

Actual

6,034

Units In

EUR Million

2,654.82

Frequency

Monthly

Next Release

May 16, 2024

Time to Release

28 Days 22 Hours

Highest	Lowest	Average	Date Range	Source
9,550.66 Jul 2020	-9,569 Aug 2022	1,264.47 EUR Million	1991-2024	National Institute of Statistics (ISTAT)

In 2017, Italy's trade surplus fell to EUR 47 billion from a record high of EUR 50 billion in the previous year, as imports jumped 9 percent to EUR 401 billion, the highest level since 2011, and exports rose at a softer 7 percent to an all-time high of EUR 448 billion. The biggest trade surpluses were recorded with the United States, the United Kingdom, France, Switzerland, Poland and Japan; and the biggest trade deficits with China, the Netherlands, Germany, Belgium and Russia.

Latest Updates

Italy posted a trade surplus of EUR 6.034 billion in February of 2024, sharply above market expectations of EUR 3.44 billion. The balance was a near three-fold increase from the surplus of EUR 2.095 billion from the corresponding period of the previous year, as prices for key commodities for the Italian economy have retreated since the start of Russia’s invasion of Ukraine, limiting turnover in foreign purchases. Imports slumped by 6.1% from the previous year to EUR 47.296 billion, with lower natural gas prices driving their purchasing turnover to slump by 49.2%, while a moderation in crude oil prices lowered imports by 6.4%. Imports also fell for computers and electronic products (-10.4%) and machinery (-5.9%). On the other hand, exports edged higher by 1.7% to EUR 53.33 billion, supported by stronger sales for food, beverages, and tobacco (11.4%), transportation equipment (28.6%), and manufacturing equipment (14.9%).