Italy Trade Surplus Shrank In May As Imports Jump


Italy's trade surplus narrowed to EUR 4.34 billion in May 2017 from EUR 5 billion in the same month of the previous year but better than market expectations of EUR 2.43 billion. Exports rose 13.1 percent to EUR 40.9 billion, driven by sales of base metals and metal products; machinery and equipment and textiles. Imports advanced at a faster 17.5 percent to EUR 36.6 billion, the biggest gain since May of 2011, boosted by purchases of natural gas; coke and refined petroleum products; metals and food. With the European Union countries, the trade surplus decreased to EUR 1.69 billion from EUR 1.78 billion in May 2016.

Year-on-year, exports rose 13.1 percent to EUR 40.9 billion from EUR 36.2 billion, led by higher sales of: base metals and metal products (15.5 percent); coke and refined petroleum products (17.3 percent); chemicals (20.5 percent); transport equipment (18.3 percent); machinery (12.2 percent) and textiles (9.1 percent).

Major increases were recorded in shipments to the Mercosur countries (38 percent); Russia (26.6 percent); India (19 percent); Poland (17.5 percent); the US (16 percent); Netherlands (15.8 percent); Austria (15.3 percent); France (12.5 percent) and Germany (12.4 percent).

Imports advanced 17.5 percent to EUR 36.6 billion from EUR 31.1 billion in May 2016, boosted by purchases of natural gas (44.4 percent); coke and refined petroleum products (37.1 percent); transport equipment (29.8 percent); metals (23.7 percent) and food, beverages and tobacco (14 percent).

The surge in imports is mainly attributed to purchases from Japan (125.1 percent); India (36.4 percent); Turkey (35.5 percent), OPEC countries (35.1 percent); France (20.3 percent); Germany (18.5 percent) and Austria (17.8 percent).

With the European Union countries, the trade suplus narrowed to EUR 1.69 billion from EUR 1.78 billion in May 2016.

 Italy Trade Surplus Shrank In May As Imports Jump


Istat | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
7/14/2017 10:38:20 AM