FX.co ★ Italy Trade Surplus Largest in Five Months

Italy’s trade surplus widened to €6.0 billion in December 2025, the highest level in five months, up from €5.2 billion in the same month a year earlier and exceeding market expectations of €4.5 billion. Exports rose 4.9% year-on-year to €51.6 billion, supported mainly by strong sales of base metals (+27.8%) and transportation equipment (+25.2%). Shipments increased markedly to Switzerland (+41.7%), ASEAN countries (+48.0%), Poland (+18.9%), and France (+5.4%), but declined to Turkey (-17.0%), the United Kingdom (-8.7%), and the Netherlands (-9.7%).

On the import side, purchases from abroad grew 3.4% to €45.6 billion, driven by higher inflows of pharmaceuticals (+30.6%), agricultural products (+21.3%), and base metals (+46.0%). Import growth was particularly strong from Belgium (+18.7%), Romania (+19.6%), North America (+59.5%), and Central and South America (+32.8%), while imports from Russia (-72.2%) and OPEC countries (-36.5%) fell sharply.

For 2025 as a whole, Italy recorded a trade surplus of €50.7 billion, with exports up 3.3% and imports rising 3.1% compared with the previous year.