| Actual | Previous | |
| Level | €4.939B | €5.205B |
Highlights
Exports increased a seasonally adjusted 4.1 percent in March, while imports rose 4.8 percent, leading to a contraction in the trade surplus to 4.939 billion euros. On an unadjusted basis, the balance was 4.709 billion.
The energy balance was in deficit for 3.934 billion euro in March, with imports rising 10.4 percent while exports were 39.7 percent higher.
The largest surplus was in the consumer goods category which saw exports rise 2.4 percent year-on-year while imports fell 1.2 percent, suggesting some waning demand. At the same time, exports of capital goods 3.9 percent but were outstripped by a 16.1 percent gain in imports.
With the United States, the trade surplus was 4.427 billion euros. Exports to the US rose 1.6 percent in March from a year-ago while imports rose 68.8 percent.
Import prices recorded a 2.5 percent month-on-month gain, while rising a more modest 0.1 percent from March of last year.
Energy prices have had an effect on the March result, and will continue to do so in the coming months as the conflict in the Middle East continues. This will continue to add prices pressures on the import side and more likely than not start spilling over into producer prices. This has been borne out by other indicators, and the question is how much producers are willing to absorb before passing price increases on to consumers and businesses.
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.