Italy's trade balance surplus reached €7.7 billion in June 2023, surpassing market expectations of €6.5 billion. The increase was driven by a 0.4% increase in exports and a 3.3% decrease in imports.
Exports to the European Union rose 0.5%, while exports to non-EU countries rose 0.3%. Imports from the European Union rose 4.9%, while imports from non-EU countries fell 14.5%.
The trade balance surplus was also helped by a 9.8% decrease in import prices. Import prices in the euro zone fell 0.9%, while import prices in the non-euro zone fell 16.9%.
The strong trade balance performance was a positive surprise for economists, who had expected the surplus to narrow in June. The increase was attributed to a number of factors, including the weaker euro, which made Italian exports more competitive, and the decline in energy prices.
The strong trade balance performance is a positive sign for the Italian economy. It suggests that the economy is still exporting more than it is importing, which is helping to boost growth.
The trade balance surplus was the largest since July 2021.The increase in exports was driven by strong demand for Italian goods in the euro zone and non-EU countries. The decrease in imports was driven by the decline in energy prices and the weaker euro.The trade balance surplus is expected to remain strong in the coming months, as the euro continues to weaken and energy prices remain low.
