| Actual | Previous | |
| Level | €5.772B | €4.753B |
Highlights
Italy's trade surplus grew in January to 5.772 billion euros from 4.753 billion the previous month when adjusted for seasonal factors. Exports fell by 0.1 percent, while imports contracted by 1.3 percent.
On an unadjusted basis, the trade surplus was 1.089 billion euros. All major industrial groupings were in surplus, save for energy, which recorded a deficit of 3.466 billion euros as exports fell 33.2 percent year-on-year with imports down 27.9 percent from January of last year.
With the United States, Italy achieved a surplus of 2.562 billion euros. Exports fell by 6.7 percent while imports contracted 12.1 percent.
Import prices rose modestly in January, up 0.2 percent from a month ago, while falling 3.3 percent from a year ago. These don't yet reflect the conflict in the Middle East which began in March.
While the trade balance increased in January, that was due more to falling imports than a surge in exports which suggests some underlying weakness in demand. Just as the tariff confrontation with the US was seemingly reaching a conclusion, albeit slowly, with the levies being declared largely illegal, the conflict in the Middle East is throwing a huge spanner into global trade.
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.