Italy Trade Surplus Larger than Expected in May


Italy’s trade surplus widened to EUR 5.347 billion in May 2019 from EUR 3.366 in the same month of the previous year and beating market expectations of a EUR 2.91 billion surplus. Exports jumped 8 percent from a year earlier and imports rose at a softer 3.4 percent.

Exports increased 8 percent year-on-year to EUR 43.800 billion in May, mainly driven by higher sales of pharmaceutical, chemical products and botanical articles (49.8 percent); machinery and equipment (4.3 percent); textiles, clothing and leather (19.8 percent) and basic metals and metal products (6.6 percent). Meanwhile, automotive exports declined 7.4 percent.

Exports went up mostly to the US (16 percent); Germany (8.4 percent); Switzerland (21.4 percent); France (8.4 percent); the Netherlands (19.8 percent); Spain (5.4 percent); Belgium (7.5 percent); the UK (6.5 percent); China (3.5 percent) and Poland (1.7 percent).

Imports advanced 3.4 percent from a year earlier to EUR 38.453 billion, boosted by higher purchases of pharmaceutical, chemical products and botanical articles (19.3 percent); textiles, clothing and leather (11 percent); mining products (4.9 percent); manufactured goods (2.7 percent); food, beverages and tobacco (3.3 percent); and computers, electronic and optical devices (2.1 percent).

Imports advanced mainly from Germany (6.6 percent); France (7.5 percent); China (10.8 percent); the Netherlands (2.9 percent); Spain (0.6 percent); the US (0.3 percent) and Russia (0.4 percent). On the other hand, imports dropped from Belgium (-5 percent); OPEC countries (-9.1 percent); and the UnK (-3.7 percent). 

With European Union countries, the country's trade surplus increased to EUR 2.248 billion from EUR 1.004 billion in May 2018.

Italy Trade Surplus Larger than Expected in May


Istat | Stefanie Moya | stefanie.moya@tradingeconomics.com
7/16/2019 8:55:25 AM