Italy Trade Surplus Widens More than Expected in June


Italy's trade surplus widened to EUR 5.07 billion in June of 2018 from EUR 4.50 billion in the same month a year earlier, well above market expectations of a EUR 3.41 billion surplus. Exports increased 6.6 percent year-on-year and imports 5.9 percent.

Exports edged up 6.6 percent to EUR 42.17 billion in June from EUR 39.54 billion a year ago, boosted by higher sales of: vehicles (47.0 percent); base metals and metal products, excluding machines and plants (10.2 percent); pharmaceuticals, chemical-medicinal and botanical articles (15.4 percent) and refined petroleum products (20.1 percent). 

Exports rose mostly to Switzerland (55.1 percent), Netherlands (20.8 percent), the US (18.8 percent), and India 11.5 percent). Meantime, sales fell to OPEC (-18.4 percent), Turkey (-12.5 percent), Russian Federation (-10.0 percent) and Spain (-8.1 percent).

Imports increased 5.9 percent year-on-year to EUR 37.10 billion in June from EUR 35.04 billion, mainly due to higher purchases of: coke and refined petroleum products (37.7 percent); mineral extraction products from quarries and mines (23.7 percent); machinery (10.4 percent) and base metals and metal products, excluding machines and plants (9.3 percent). On the other hand, purchases of other manufacturing activity products declined (-4.8 percent).

Higher imports were recorded mainly from OPEC (34.9 percent), Romania (14.7 percent), Netherlands (13.6 percent), Russia (11.0 percent) and Germany (9.6 percent). In contrast, purchases decreased from India (-16.3 percent), MERCOSUR (-15.3 percent), Poland (-5.7 percent), Switzerland (-4.9 percent) and the UK (-4.0 percent). 

With European Union countries, the trade surplus widened to EUR 1.520 billion from EUR 1.221 billion in June last year.

Italy Trade Surplus Widens More than Expected in June


Istat | Stefanie Moya | stefanie.moya@tradingeconomics.com
8/10/2018 10:09:55 AM