| Actual | Previous | Revised | |
|---|---|---|---|
| Level | €3.67B | €4.46B | €4.43B |
Highlights
The country's seasonally adjusted trade balance was in a €3.67 billion surplus in July, down from June's minimally revised €4.43 billion.
Trade in the Eurozone was mixed. Exports experienced a minor decrease of 0.5 percent in comparison to June, with a more significant decrease in non-EU exports by 0.7 percent. Conversely, imports experienced a 1.1 percent rise, primarily due to a 1.9 percent rise in non-EU imports.
Year-over-year, exports demonstrated a 6.8 percent rise, while imports increased by 6.3 percent. Exports to EU countries increased by 6.0 percent, while those to non-EU markets increased by 7.6 percent. While imports from the EU increased by 7.9 percent, imports from non-EU countries increased by 4.4 percent.
Despite a deficit in EU trade, with a robust surplus of €5.02 billion for non-EU trade. The surplus was even more significant at €11.54 billion when energy was excluded, underscoring the robustness of non-energy trade.
Month-over-month, import prices increased by 0.5 percent, with a 1.2 percent increase in non-euro zone prices. Furthermore, import prices increased by 1.3 percent year-over-year, with non-euro zone imports experiencing a more significant increase of 2.7 percent, while Eurozone prices remained consistent. Therefore, Italy's RPI hasn't changed from minus 15 indicating continued underperformance, while the RPI-P remains minus 6 within market consensus of the Italian economy.
Trade in the Eurozone was mixed. Exports experienced a minor decrease of 0.5 percent in comparison to June, with a more significant decrease in non-EU exports by 0.7 percent. Conversely, imports experienced a 1.1 percent rise, primarily due to a 1.9 percent rise in non-EU imports.
Year-over-year, exports demonstrated a 6.8 percent rise, while imports increased by 6.3 percent. Exports to EU countries increased by 6.0 percent, while those to non-EU markets increased by 7.6 percent. While imports from the EU increased by 7.9 percent, imports from non-EU countries increased by 4.4 percent.
Despite a deficit in EU trade, with a robust surplus of €5.02 billion for non-EU trade. The surplus was even more significant at €11.54 billion when energy was excluded, underscoring the robustness of non-energy trade.
Month-over-month, import prices increased by 0.5 percent, with a 1.2 percent increase in non-euro zone prices. Furthermore, import prices increased by 1.3 percent year-over-year, with non-euro zone imports experiencing a more significant increase of 2.7 percent, while Eurozone prices remained consistent. Therefore, Italy's RPI hasn't changed from minus 15 indicating continued underperformance, while the RPI-P remains minus 6 within market consensus of the Italian economy.
Definition
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.
Description
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.
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.
