Italy Posts Highest Trade Surplus on Record

Italian trade surplus widened to € 6.85 billion in July of 2014 from € 5.98 billion a year earlier. It is the highest trade surplus ever, driven by sales to the United States and the Euro Area.

Exports rose 1.1 percent year-on-year to € 38.55 billion in July (+2.5 percent for EU area and -0.5 percent for non EU countries). The United States (18.4 percent), Czech Republic (16.4 percent) and Spain (+10.8 percent) were the most dynamic markets for exports and the country sold more motor vehicles (12.6 percent), food, beverages and tobacco (5.9 percent) and textiles, clothing and furniture (over 5 percent).

Imports fell by 1.4 percent to € 31.69 billion (+2.2 percent for EU and -5.6 percent for non EU countries). Purchases from the OPEC countries (-30.2 percent) and Russia (-27.2 percent) dropped the most. Imports of natural gas (-30.4 percent) and refined petroleum products (-23.8 percent) recorded a substantial fall.

On a monthly basis, exports decreased by a seasonally adjusted 1.6 percent and imports rose 2.5 percent. The fall in exports is due to lower sales to both areas: -2.7 percent for the EU countries and -0.3 percent for non EU countries. Imports decreased for EU countries (-2.5 percent) and non EU countries (-2.6 percent). 

 Italy Posts Highest Trade Surplus on Record

Istat | Joana Taborda |
9/17/2014 11:05:33 AM