Italy Posts Trade Surplus in January

Italy’s trade balance turned into a € 365 million surplus in January of 2014 compared with a € 1810 million deficit in the same period last year, as imports fell and exports rose slightly. Compared with the previous month, the trade surplus narrowed 89 percent.
Istat | Joana Taborda | 3/18/2014 10:29:10 AM
Exports rose 0.2 percent on the year to € 29.986 billion. Shipments of consumer non-durable goods recorded the highest increase (2.4 percent), followed by sales of capital goods (2.3 percent) and durable consumer goods (1.8 percent). In contrast, energy sales dropped 3.6 percent year-on-year and shipments of intermediate goods decreased 2.5 percent.

Shipments to countries outside the EU fell 2.7 percent year-on-year, hurt by lower sales to Switzerland (-22.7 percent), the Middle East countries (-18.8 percent) and the OPEC countries (-15.5 percent). Sales to the EU countries increased 2.6 percent. 

Imports shrank 6.6 percent year-on-year in January to € 29.62 billion, mainly due to an 18.8 percent fall in energy purchases.

On a seasonally-adjusted monthly basis, exports decreased 1.5 percent, as sales to both EU and non EU countries decreased (-1.7 percent and -1.2 percent, respectively). Imports fell 1.6 percent in January. 

Net of energy products, Italy would have posted a € 4.664 billion surplus in January.  With the EU countries, Italy recorded a trade surplus of € 1.262 billion, up from a € 566 million surplus in January of 2013.

Italy Posts Trade Surplus in January