Italy Trade Surplus Narrows In April As Exports Fall

Italy's trade surplus narrowed to EUR 3.60 billion in April 2017 from EUR 4.51 billion in the same month of the previous year but better than market expectations of EUR 3.41 billion. Exports fell 2.8 percent to EUR 34.0 billion, led by lower sales of transport equipment, other products of the processing of non-metallic minerals, and textiles; while imports dropped at a slower 0.2 percent to EUR 30.41 billion, as purchases of transport equipment, clothing and vehicles declined the most.
Istat | Joana Ferreira | 6/16/2017 8:40:28 AM
Year-on-year, exports fell 2.8 percent to €34.00 billion from €34.98 billion, dragged by lower sales of: Transport equipment (-13.2 percent); other products of the processing of non-metallic minerals (-10.8 percent); textiles (-10.5 percent); paper and paper products, media printing and reproduction products (-9.8 percent); and computer, electronic and optical devices (-9.3 percent). In contrast, exports of coke and refined petroleum products jumped 57.7 percent. 

The biggest decreases in shipments were reported for OPEC countries (-17.7 percent); the US (-9.6 percent); the UK (-8 percent); Turkey (-7.9 percent); and Switzerland (-6.8 percent). Meanwhile, sales rose to Russia (13.5 percent), Japan (7 percent) and China (5.5 percent).

Imports edged down 0.2 percent to €30.41 billion from €30.47 billion in April 2016, led by falls in purchases of: Transport equipment (-18.5 percent); clothing (-9.7 percent); and vehicles (-8.7 percent). Meanwhile, imports increased for: Natural gas (42.7 percent); coke and refined petroleum products (37 percent); and crude oil (32.8 percent). 

The drop in imports mainly reflected the decrease in purchases from Japan (-48.2 percent), Czech Republic (-11.2 percent), and France (-11.2 percent). By contrast, imports grew the most from India (21.1 percent), Turkey (16.9 percent) and Russia (13.8 percent).

With European Union countries, the trade surplus widened to EUR 1.05 billion from EUR 0.91 billion in April 2016.

Italy Trade Surplus Narrows In April As Exports Fall