Italy posted a trade deficit of EUR 0.361 billion in July of 2022, swinging from a surplus of EUR 8.575 billion in the corresponding month of the previous year, marking the 8th consecutive trade deficit for the Italian economy. Imports jumped 44 percent to a record high of EUR 58.2 billion, driven by a surge in purchases of energy (196.1 percent) amid soaring prices. Imports also rose for intermediate goods (25.9 percent), and consumer goods (23 percent). Meanwhile, exports rose at a slower 18 percent to EUR 57.8 billion, the highest on record, as sales increased for consumer goods (24.8 percent), intermediate goods (16.4 percent), and capital goods (1 percent). Within the European Union, Italy registered a trade surplus of EUR 2.466 billion. source: National Institute of Statistics (ISTAT)
Balance of Trade in Italy averaged 1214.91 EUR Million from 1991 until 2022, reaching an all time high of 9550.66 EUR Million in July of 2020 and a record low of -6389.31 EUR Million in January of 2011. This page provides the latest reported value for - Italy Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Italy Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on September of 2022.
Balance of Trade in Italy is expected to be -3300.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Italy Balance of Trade is projected to trend around 5900.00 EUR Million in 2023 and 7500.00 EUR Million in 2024, according to our econometric models.