Italy Trade Surplus Widens More than Expected

Italy recorded a trade surplus of EUR 6.163 billion in May 2025, down from EUR 6.377 billion in the same month last year.

Despite the slight narrowing, the figure significantly exceeded market expectations of a EUR 2.87 billion surplus and marked the highest amount since July 2024.

Exports fell by 1.9% year-on-year to EUR 55.088 billion, driven mainly by a 4.6% drop in sales to non-EU countries, which more than offset a modest 0.7% increase in exports to EU markets.

The most significant negative contributions came from computers, electronic and optical equipment (-15.9%) and sporting goods, games, musical instruments, precious metals, medical instruments, and other miscellaneous products (-15.1%).

Meanwhile, imports declined by 1.7% to EUR 48.925 billion, with a sharper drop in purchases from non-EU countries (-3.4%) compared to EU nations (-0.4%).

The decline was primarily driven by lower imports of energy products (-14.2%), intermediate goods (-6.6%), and capital goods (-2.6%).