Italy Trade Surplus Above Expectations in June

Italy's trade surplus narrowed to EUR 4.50 billion in June 2017 from EUR 4.66 billion in the same month of the previous year but better than market expectations of EUR 3.87 billion. Exports rose 8.2 percent from the previous year to EUR 39.54 billion, driven by sales of vehicles and coke and refined petroleum products. Imports advanced at a faster 9.9 percent to EUR 35.04 billion, as purchases of natural gas and pharmaceuticals rose the most.
Istat | Joana Ferreira | 8/10/2017 9:54:01 AM
Year-on-year, exports rose 8.2 percent to EUR 39.54 billion from EUR 36.54 billion, boosted by higher sales of: Vehicles (19 percent); coke and refined petroleum products (17 percent); computer, electronic and optical devices (14.8 percent); chemicals (14.4 percent); and rubber and plastic products (11 percent). By contrast, exports of transport equipment fell 2.3 percent.

The biggest increases in shipments were reported for China (32.9 percent); Russia (26.8 percent); MERCOSUR countries (18.9 percent); Romania (18.2 percent); and Spain (17.8 percent). Meanwhile, sales fell to Belgium (-9.4 percent), OPEC countries (-2.8 percent) and the UK (-0.8 percent).

Imports increased 9.9 percent to EUR 35.04 billion from EUR 31.88 billion in June 2016, led by gains in purchases of: Natural gas (58.4 percent); pharmaceutical, chemical and botanical articles (23.2 percent); basic metals and metal products (18.4 percent); sport articles (15.2 percent); and crude oil (14.8 percent). Meanwhile, imports of textile fell 1.2 percent.

The rise in imports mainly reflected the increase in purchases from India (63.9 percent), Russia (42.8 percent), Poland (21.4 percent), ASEAN countries (20 percent) and Switzerland (15.8 percent). By contrast, imports fell the most from the UK (-6.7 percent).

With European Union countries, the trade surplus increased to EUR 1.22 billion from EUR 1.20 billion in June 2016.

Italy Trade Surplus Above Expectations in June