Italy’s Trade Surplus Increases to €45 Billion Over Ten Months

Italy’s trade surplus has risen significantly in the first ten months of the year, reaching €45 billion, up from €24.6 billion during the same period in 2023. The Italian National Institute of Statistics (ISTAT) reports that the trade surplus for October was €5.15 billion, an increase from €4.49 billion in October 2023, driven by a surge in exports.

As the third-largest economy in the eurozone, Italy experienced a 1.6% year-on-year growth in exports, despite notable declines in car deliveries (-23.7%) and sales of refined petroleum products (-57.2%). Meanwhile, imports saw a modest increase of 0.4%. Furthermore, the energy balance deficit narrowed in October, decreasing to €4.7 billion from €5.2 billion in the same month last year.