Italy Trade Surplus Widens in June

Italy trade surplus increased to EUR 4.66 billion in June of 2016, from a EUR 2.77 billion surplus a year earlier. Exports fell 0.5 percent, dragged down by refined petroleum products. Imports declined by a faster 6.1 percent, mainly due to lower energy purchases.
Istat | Yekaterina Guchshina | 8/11/2016 12:46:41 PM
Year-on-year, exports fell 0.5 percent to €36.543 billion from €36.73 billion, weighed by lower sales of refined petroleum products (-34.7 percent). In contrast, exports rose for transport (vehicles excluded) and agriculture, forestry and fishery by 11.9 percent and 8.1 percent, respectively. By main industrial groupings, sales of energy products and intermediate goods declined by 35.1 percent and 0.5 percent, respectively. In contrast, exports increased for consumer goods (+0.8 percent) and capital goods (+2.5 percent).

The biggest decreases in shipments were reported for Other African countries (-21.7 percent); MERCOSUR countries (-18.2 percent); Central and South America (-16.4 percent); Middle Eastern countries (-12.6 percent); Turkey (-12.6 percent) and Belgium (-11.2 percent). Meanwhile, sales to Oceania and other territories and Japan increased the most by 59.9 percent and 17 percent, respectively. 

Imports shrank 6.1 percent to €31.88 billion from €33.96 billion in June 2015, led by a fall in purchases of energy (-27.6 percent), consumer goods (-3.0 percent), intermediate (-4.4 percent) and capital (-1.4 percent) .

The decline in imports mainly reflected the fall in purchases from Russia (-46.4 percent); Other African countries (-33.8 percent); North Africa (-23.9 percent), Switzerland (-14 percent); ASEAN (-10.1 percent); France (-1.3 percent); Romania (-7.7 percent); North America (-3.2 percent) and Middle East countries (-12.6 percent). In contrast, imports rose from Turkey (+21.8 percent), Japan (+12.9 percent) and Germany (+3.0 percent).

On a seasonally adjusted monthly basis, exports went down by 0.4 percent and imports were flat. 

Italy Trade Surplus Widens in June