May's seasonally adjusted merchandise trade balance showed solid performance with a €4.16 billion surplus, though this marked a notable decline from April's €5.97 billion surplus. The seasonally adjusted merchandise trade data revealed a decline in both exports by 3.8 percent and imports by 0.5 percent compared to April 2024. Exports to EU and non-EU countries fell for both EU countries by 3.3 percent and non-EU countries by 4.4 percent, while imports fell for the EU by 1.9 percent but rose for non-EU countries by 1.5 percent. Despite these monthly declines, quarterly data showed a modest rise in exports by 0.1 percent and a notable increase in imports by 1.9 percent.

Year-over-year, May 2024 saw exports drop by 1.7 percent and imports by 5.0 percent, with EU exports down by 3.9 percent and non-EU exports up slightly by 0.6 percent. Imports decreased for both EU by 4.6 percent and non-EU areas by 5.6 percent.

The seasonally adjusted trade balance of €4.16 billion surplus, comprised a €742 million deficit for EU countries and a €4.9 billion surplus for non-EU countries. Excluding energy, the trade balance surplus was €10.45 billion. Import prices increased marginally by 0.1 percent from the previous month and 0.7 percent over the last three months. However, compared to a year ago, import prices decreased slightly by 0.2 percent, reflecting varied trends across different economic zones. This complex trade landscape underscores both challenges and resilience in international trade dynamics.

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.