Italy Trade Surplus Narrows
In February 2025, Italy recorded a trade surplus of €4.466 billion, a decline from the €6 billion surplus observed in the same month of the previous year. This decrease was attributed to a significant rise in import turnover. Imports increased by 4.1% year-over-year, reaching €49.325 billion, primarily driven by a substantial 39.6% surge in the purchase of natural gas from abroad. This rise was due to increased domestic power demand in Italy and uncertainty in supply following the cessation of flows from Ukraine at the beginning of the year, which led to price hikes. Additionally, there was growth in foreign purchases of food and beverages (8.2%), pharmaceutical products (21%), and transportation goods. Conversely, exports grew at a slower pace of 0.8% year-over-year, totaling €53.791 billion. The gains from higher sales of pharmaceuticals (31.2%), transportation goods excluding automobiles (9.6%), and sporting goods (6.5%) helped counterbalance declines in the export of cars (-11.5%), machinery (-11.5%), and coke and refined petroleum products (-25.8%).
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