Italy’s trade surplus expanded to €5.98 billion in December 2024, up from €5.527 billion in the same month of the previous year, exceeding market expectations of €4.35 billion.
Italy trade surplus beats forecast
Exports showed a solid increase of 2.9% year-on-year, reaching €49.334 billion, driven by robust demand for pharmaceutical, chemical-medicinal, and botanical products (+35.5%), computers, electronic and optical equipment (+18.2%), and food products, beverages, and tobacco (+10.0%). These growth areas reflected strong global demand for Italian-made goods, especially in high-value sectors like pharmaceuticals and electronics.
Exports grew among key partners
The country’s export growth was particularly notable in its key trading partners. Spain, ASEAN countries, the UK, the Netherlands, and Belgium were the largest contributors, with Spain showing a notable increase of 15.1%, ASEAN countries rising by 32.2%, and the UK growing by 14.0%. The Netherlands and Belgium also posted healthy growth rates of 15.0% and 10.6%, respectively, underscoring Italy's strong presence in European and global markets.
Import details
On the import side, Italy saw a 1.7% increase in purchases, reaching €43.353 billion. Imports from non-EU countries rose by 7.7%, reflecting greater demand for goods from outside the European Union. However, there was a slight decline in imports from the EU (-2.4%), indicating potential shifts in regional trade dynamics.
Full-year data
For the full year 2024, Italy recorded a total trade surplus of €54.923 billion, reflecting the continued strength of its export sector and the country’s capacity to generate surpluses despite some fluctuations in global economic conditions. This result highlighted the resilience of Italy’s industrial base and its ability to capitalize on growing demand across a wide range of sectors.
