Italian Trade Surplus Widens in May

In May, Italy's trade surplus with the rest of the world reached €3.90 billion compared with a surplus of €867 million in the same month of 2012, mostly due to plunging imports. Purchases fell 10.3 percent in May compared to the same month in 2012, while exports were down 1.5 percent.

In May 2013, exports decreased to € 34.6 billion, down 3.4 percent for European Union shipments and up 0.7 percent for non-EU countries. Imports decreased to €30.7 billion, down 5.5 percent for EU and down 15.8 percent for non EU countries. With European Union countries, Italy registered a trade surplus of € 890 million, compared with a surplus of € 525 billion in May of 2012.

The annual decline in exports is particularly pronounced in sales to Switzerland (-15.8 percent), Austria (-7.9 percent) and the U.S. (-5.6 percent). Also relevant is the reduction in sales of refined petroleum products (-18.7 percent), basic metals and metal products (-15.6 percent) and motor vehicles (-7.0 percent).

Imports from OPEC countries (-40.5 percent), China (-16.9 percent) and MERCOSUR countries (-16.2 percent) are in sharp decline. The biggest contraction was registered in purchases of transportation vehicles (motor vehicles excluded) (-46.0 percent), products of mineral extraction and quarrying except oil and gas (-40.4 percent) and crude oil (-32.9 percent).

Italian Trade Surplus Widens in May

ISTAT | Nuno Fontes |
7/16/2013 10:12:57 AM