Italy October Trade Surplus Larger than Expected


Italy's trade surplus widened to EUR 4.95 billion in October 2017 from EUR 4.19 billion in the same month of the previous year, way above market expectations of EUR 3.23 billion.

Year-on-year, exports rose 11.3 percent to EUR 39.83 billion from EUR 35.77 billion, boosted by higher sales of: coke and refined petroleum products (48.7 percent); computers, electronic and optical devices (19.2 percent); vehicles (17.4 percent); basic metals and metal products (16.4 percent); and rubber and plastic articles (14.5 percent). By contrast, exports of transport equipment fell 3.2 percent.

Exports rose the most to Turkey (26.9 percent), MERCOSUR (25.4 percent), Czech Republic (20.6 percent), Austria (18.6 percent) and the US (17 percent). Meanwhile, sales fell mainly to OPEC countries (-11.7 percent) and Belgium (-9.3 percent).

Imports increased 10.4 percent to EUR 34.87 billion from EUR 31.58 billion in October 2016, led by gains in purchases of: crude oil (24 percent); basic metals and metal products (19.2 percent); paper and paper products, products of printing and reproduction of recorded media (18.5 percent); agriculture, forestry and fishing products (13.8 percent); and natural gas (12.6 percent). Meanwhile, imports of coke and refined petroleum products fell 6.4 percent.

The rise in imports mainly reflected the increase in purchases from OPEC countries (35.2 percent), France (15.7 percent), Spain (15.6 percent), the Netherlands (15.2 percent) and Poland (13.9 percent). By contrast, imports fell from ASEAN countries (-18.2 percent), Russia (-5.9 percent) and Belgium (-4.8 percent).

With European Union countries, the trade surplus increased to EUR 0.67 billion from EUR 0.39 billion in October 2016.

Italy October Trade Surplus Larger than Expected


Istat | Joana Ferreira | joana.ferreira@tradingeconomics.com
12/18/2017 9:29:37 AM