Italy Trade Surplus Narrows Less than Expected

The trade surplus in Italy fell to EUR 5.68 billion in July of 2018 from EUR 6.56 billion in the corresponding month of the previous year. Figures compare with market expectations of EUR 4.82 billion. Exports went up 6.8 percent but imports rose the most in fourteen months.
Istat | Agna Gabriel | 9/17/2018 9:28:14 AM
Exports rose 6.8 percent year-on-year to EUR 42.73 billion from EUR 40 billion a year earlier, mainly boosted by higher sales of base metals and metal products, excluding machines and plants (+12.4 percent); machines and equipment (+7 percent); refined petroleum products (+41.6 percent) and transport equipment, excluding motor vehicles (+12.0 percent). These increases were partially offset by a decline in shipments of motor vehicles (-6 percent) and pharmaceutical, chemical-medicinal and botanical items (-2.8 percent).

Exports increased to both EU countries (+8.5 percent) and non-EU countries (+4.8 percent), namely to Germany (+9 percent); France (+11.9 percent); Spain (+8.7 percent) and Switzerland (14.4 percent). 

Imports surged 10.8 percent year-on-year to EUR 37.06 billion from EUR 33.43 billion, mainly due to higher purchases of manufacturing products (+10.8 percent); transport equipment (+1.1 percent) and machinery (+11.4 percent).

Higher imports were recorded from EU countries (+6.2 percent) and non-EU countries (17.8 percent), namely Germany (11.7 percent); France (+9.4 percent); China (+7.3 percent) and OPEC countries (+24.5 percent). 

Considering the first seven months of the year, sales rose 4.2 percent and imports 5 percent. The trade surplus reached EUR 24.73 billion.

Considering the period May to July, imports went up 3 percent and exports 1.2 percent, when compared to the previous three month period.

Italy Trade Surplus Narrows Less than Expected