Italy's Trade Surplus Expands to €2.0 Billion in August 2025 Amid Declining Trade Flows

Italy Records Wider Trade Surplus in August

Italy's trade surplus expanded to €2.0 billion in August 2025, marking an increase from the €1.3 billion reported in August of the previous year. This development, however, fell below market expectations of €7.55 billion. The widening surplus was primarily driven by a more significant decline in imports compared to exports, according to data released by the statistical office ISTAT.

Overall exports decreased by 1.1% year-on-year, reaching a total of €38.7 billion. Imports saw a more substantial reduction, falling by 4.1% to €36.6 billion.

Detailed Breakdown of Export Performance

The year-on-year decline in exports was largely influenced by lower sales to non-EU markets, which saw a 7.0% decrease. This contraction was partially offset by an increase in shipments to EU markets, which grew by 5.4%.

Key sectors experiencing a downturn in exports included:

• Machinery and equipment n.e.c.: down 5.6%
• Sporting goods, games, musical instruments, precious metals, medical instruments, and other n.e.c. products: a significant drop of 19.8%
• Leather goods (excluding clothing) and similar products: decreased by 9.5%

Geographically, Italy's exports saw sharp declines to several major non-EU destinations, including the United States (-21.1%), Turkey (-25.9%), and China (-16.3%). Exports to non-EU countries specifically decreased by 7.7% year-on-year.

Import Trends and Overall Trade Balance

Imports also experienced a broad-based decline, with reduced purchases from both EU markets (down 3.0%) and non-EU markets (down 2.9%). Imports from non-EU countries decreased by 3.1% year-on-year.

On a seasonally adjusted basis, the trade surplus for August 2025 stood at €5.2 billion, an increase from €4.8 billion in July. Excluding energy products, the trade surplus for August amounted to €5.5 billion.

Despite the monthly expansion, the cumulative trade surplus for the January–August period of 2025 narrowed to €32.7 billion, compared to €37.3 billion recorded during the same period in the previous year.