Italian Trade Surplus Widens to Record High in July


Italy recorded a €8.03 billion trade surplus in July of 2015, up from a €6.92 billion surplus a year earlier. It was the highest value ever recorded, as exports reached an all time high while imports rose at a slower pace.

Year-on-year, exports rose by 6.3 percent to €41.06 billion, as capital goods shipments grew 9 percent and sales of consumer goods increased by 6.7 percent. Also, exports of intermediate goods and energy products grew 3.6 percent and 1.2 percent, respectively.

The biggest increases in shipments were reported for Belgium (+42.3 percent), the US (+22.9 percent), Turkey (+14.9 percent), South Korea, Hong Kong, Malaysia, Singapore, Taiwan and Thailand (+14.1 percent), Spain (+10.1 percent). Sales to Russia and Japan declined 34.7 percent and 4.7 percent, respectively. 

Imports increased by 4.2 percent to €33.03 billion, boosted by a 16.4 percent increase in purchases of capital goods. Imports of intermediate goods and consumer goods also expanded by 5 percent and by 4 percent each. By contrast, energy products purchases fell 12.9 percent.

The increase in imports mainly reflected the strong growth in purchases from Belgium (+23.3 percent), Poland (+22.5 percent), South Korea, Hong Kong, Malaysia, Singapore, Taiwan and Thailand (+19.8 percent), Czech Republic (+17.9 percent) and ASEAN countries (+17.2 percent). Meanwhile purchases from India (-14.4 percent) and OPEC countries (-4.2 percent) fell the most.

On a seasonally adjusted monthly basis, exports contracted 0.4 percent while imports shrank 3.7 percent.

So far this year, Italy posted a €26.48 billion surplus.

Italian Trade Surplus Widens to Record High in July


Istat | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/17/2015 9:50:35 AM