Italy Trade Surplus Narrows 3.4% YoY in July


Italy recorded a trade surplus of €7.80 billion in July 2016 compared with a surplus of €8.07 billion in the same month of 2015. Exports fell 7.3 percent, dragged by lower sales of coke and refined petroleum products; and imports declined 8.3 percent, as purchases of natural gas and crude oil fell by the most. With European Union countries, Italy registered a trade surplus of €2.91 billion, compared with a surplus of €3.05 billion euros in July 2015.

Year-on-year, exports fell 7.3 percent to €38.04 billion from €41.06 billion, dragged by lower sales of: coke and refined petroleum products (-31.7 percent); pharmaceutical preparations, medicinal chemical and botanical (-13 percent); computer, electronic and optical equipment (-11.8 percent); machinery and equipment (-10.2 percent); and electrical equipment (-9.7 percent). In contrast, exports rose for: means of transport, excluding vehicles (+4.5 percent). By main industrial groups, sales fell for: energy (-31.8 percent); intermediate goods (-7.2 percent); capital goods (-6.4 percent); and consumer goods (-6.1 percent). 

The biggest decreases in shipments were reported for Belgium (-26.4 percent); MERCOSUR countries (-22.2 percent); OPEC countries (-17.5 percent); the US (-12.8 percent); and ASEAN countries (-12.1 percent). Meanwhile, sales to China and Japan increased the most by 4.7 percent and 4 percent, respectively.

Imports shrank 8.3 percent to €30.24 billion from €32.99 billion in July 2015, led by a fall in purchases of natural gas (-35.7 percent), crude oil (-18.4 percent), base metals and fabricated metal products, except machinery and equipment (-13.9 percent), means of transport, excluding vehicles (-13.5 percent) and substances and chemicals (-11.2 percent). Meanwhile, imports of vehicles rose 9.5 percent. By main industrial groups, sales fell for: energy (-21.1 percent); intermediate goods (-10.2 percent); consumer goods (-4.7 percent); and capital goods (-2.7 percent).

The decline in imports mainly reflected the fall in purchases from Russia (-31.7 percent), Switzerland (-13.7 percent), Poland (-11.7 percent), MERCOSUR countries (-10.6 percent), and the Netherlands (-9.9 percent). In contrast, imports rose the most from India (+3.7 percent) and the UK (+2.6 percent).

With European Union countries, Italy registered a trade surplus of €2.91 billion, compared with a surplus of €3.05 billion euros in July 2015.

Italy Trade Surplus Narrows 3.4% YoY in July


Istat | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/16/2016 8:42:08 AM