Italy February Trade Surplus Widens More than Expected

Italy's trade surplus widened to EUR 3.10 billion in February of 2018 from EUR 1.88 billion in the same month a year earlier and above market expectations of a EUR 2.23 billion surplus. Exports grew 3.9 percent while imports edged up 0.5 percent.
Istat | Stefanie Moya | 4/17/2018 11:54:03 AM
Exports rose 3.9 percent year-on-year to EUR 36.25 billion in February from EUR 34.87 billion, mainly due to higher sales of basic metals and metal products (11.4 percent); electrical appliances (6.7 percent); means of transport (6.3 percent); machinery and appliances (3.6 percent) and substances and chemical products (2.2 percent). Meantime, exports dropped for agriculture, forestry and fishing (-9.2 percent) and clothing, textiles and accessories (-0.3 percent).

Exports increased mainly to India (23.0 percent), Netherlands (19.0 percent), Poland (17.0 percent), Czech Republic (13.5 percent) and Austria (12.9 percent). Meanwhile, sales fell to China (-9.8 percent), OPEC countries (-9.2 percent), Japan (-8.8 percent), Belgium (-3.9 percent) and  ASEAN countries (-1.6 percent).

Imports edged up 0.5 percent to EUR 33.14 billion in February from EUR 32.99 billion a year earlier, boosted by higher purchases of machinery and appliances (4.0 percent); basic metals and metal products (3.3 percent); substances and chemical products (2.0 percent) and means of transport (1.8 percent). In contrast, imports of clothing, textiles and accessories declined by 3.2 percent.

Imports advanced mainly to OPEC countries (13.0 percent), Czech Republic (10.2 percent), Austria (9.1 percent), Germany (8.2 percent) and Romania (7.0 percent). On the other hand, imports decreased from ASEAN countries (-24.9 percent), India (-15.3 percent), Spain (-11.9 percent), Belgium (-11.6 percent) and Switzerland (-10.6 percent).

With European Union countries, the trade surplus increased to EUR 1.13 billion from EUR 0.16 billion in February last year.

Italy February Trade Surplus Widens More than Expected