FX.co ★ Italy’s Trade Surplus Widens in November

In November 2025, Italy's trade surplus increased to €5.08 billion from €3.39 billion in the previous year, slightly below market predictions of €5.2 billion. Export levels dipped by 0.1%, influenced by significant reductions in sectors such as other manufacturing (-19.7%), refining (-31.3%), electronics (-12.1%), other transportation (-8.2%), and chemicals (-2.5%). However, these were partially countered by increases in metals (17.0%), pharmaceuticals (6.1%), machinery (3.2%), and motor vehicles (9.1%). Export declines were notable in major markets like Turkey (-40.5%), the UK (-16.2%), ASEAN (-21.5%), the US (-2.9%), and the Netherlands (-9.7%), while exports grew to OPEC (18.9%), Switzerland (12.2%), and Belgium (9.4%). Meanwhile, imports decreased by 3.5%, largely due to reduced purchases of pharmaceuticals (-25.6%), crude oil (-39.5%), and natural gas (-17.3%), with significant drops from OPEC (-34.6%), Belgium (-11.0%), the US (-8.2%), Switzerland (-14.1%), and China (-4.2%).