Italy's trade surplus expanded to €5.153 billion in October 2024, up from €4.732 billion in the same month last year, far surpassing the expected €3.22 billion.
Italy trade surplus widens more than expected
This represents the largest trade surplus in three months, driven by stronger export growth compared to imports. On a year-on-year basis, exports rose by 1.6%, with sales to EU countries increasing by 3.7%, while those to non-EU countries declined by 0.7%. Turkey saw the most significant export growth (+33.5%), followed by the UK (+10.8%) and Belgium (+10.3%).
Sporting goods deliveries jump
Among products, shipments of sporting goods (+35.8%), food, beverages, and tobacco (+10.5%), and pharmaceutical and chemical products (+11.5%) increased. Meanwhile, imports grew by 0.4%, as a drop in purchases from non-EU countries (-4%) was almost offset by higher imports from EU countries (+3.9%).
