| Actual | Previous | |
| Level | €5.205B | €5.772B |
Highlights
The trade surplus contracted to 5.295 billion euros in February from 5.772 billion the month before on a seasonally adjusted basis, with a 2.6 percent increase in exports outpaced by a 3.5 percent increase for exports.
In nominal terms, the surplus was 4.994 billion euros, with exports falling 0.2 percent year-on-year and imports registering a 1.3 percent decline. Exports of consumer goods slipped 1.4 percent while imports rose 3.6 percent. Still, for the first two months of the year, imports are down 1.6 percent to the same period last year, suggesting a cautious consumer.
Energy saw a nearly 20 percent decline in exports, while imports were down around 28 percent year-on-year in February. These figures are based on the value of trade, which means in March, energy will become more expensive given the conflict in the Middle East which raged through March and continued into April.
Exports to the United States increased 8.0 percent from February of last year with imports rising 40.4 percent during the same period, resulting in a surplus of 3.158 billion euros.
Import prices saw a 0.4 percent increase over the previous month while falling 3.4 percent year-on-year. But again, with the situation in the Middle East, these are likely to increase in March, pressuring manufacturing and potentially leading consumers to pull back on discretionary spending.
First coming under pressure from US-imposed tariffs, trade is now being buffeted by the conflict in the middle east which will continue to affect trade balances in the coming months.
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.