The seasonally adjusted merchandise trade balance was in a €1.5 billion surplus in April, down from a smaller revised €4.9 billion in March and a 4-month low.

The headline deterioration reflected both weaker exports, which fell 1.7 percent on the month, and stronger imports, which rose 5.3 percent. The drop in the former was due to a 1.5 percent decrease in sales to other EU countries and a 2.0 percent slide in purchases from the rest of the world. Unadjusted exports were 5.4 percent lower on the year while, imports were down fully 12.3 percent, in large part due to weaker oil prices.

The merchandise trade balance measures the difference between imports and exports of goods. The level of the international trade balance, as well as changes in exports and imports, indicate trends in foreign trade and can offer a guide to an economy's competitiveness.

Changes in the level of imports and exports, along with the difference between the two (the trade balance) are a valuable gauge of economic trends here and abroad. While these trade figures can directly impact all financial markets, they primarily affect currency values in foreign exchange markets.

Separate reports are published for external and internal EU trade. The extra-EU trade data are compiled on the basis of customs declarations with non-EU countries. The intra-EU trade data (Intrastat) are derived from surveys and provide statistics on trade between Italy and other EU member states. The data are available monthly. World trade data are available within one month after the reference month while intra-EU trade data are available within 7 weeks after the reference month.