Italy's trade surplus increased to EUR 4.872 billion in November 2019 from EUR 3.975 billion in the corresponding month of the previous year but missing market estimates of a EUR 6.106 billion surplus. Imports slipped 5.9% from a year earlier to EUR 35.30 billion, mainly dragged by lower purchases of transport equipment (-0.2%), namely vehicles (-2.6%); basic metals & metal products (-11.2%); chemicals (-4.7%); machinery & equipment (-1.1%) and electronic products (-5.1%). Exports fell at a softer 3.2% to EUR 40.17 billion, amid lower sales of machinery & equipment (-5.5%); transport equipment (-14.4%), with vehicles showing no growth and other transport equipment falling 23.7%; basic metals & metal products (-5.1%); chemicals (-5.2%); rubber & plastics (-5.2%); coke & petroleum products (-11.1%) and electronic products (-11.5%). With EU countries, Italy's trade surplus was barely unchanged at EUR 0.70 billion, with both exports and imports decreasing 2.7 percent, respectively. Balance of Trade in Italy averaged 1031.40 EUR Million from 1991 until 2019, reaching an all time high of 8057 EUR Million in October of 2019 and a record low of -6389.30 EUR Million in January of 2011. source: National Institute of Statistics (ISTAT)
Balance of Trade in Italy is expected to be 4180.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Italy to stand at 2400.00 in 12 months time. In the long-term, the Italy Balance of Trade is projected to trend around 1900.00 EUR Million in 2020, according to our econometric models.