Italy’s trade surplus widened to €4.9 billion in February 2026 from €4.4 billion in the same month last year and above expectations of €3.8 billion. Exports fell 0.2% year-on-year to €53.8 billion, reflecting a decline in shipments to EU countries (-2.9%), while those to non-EU markets rose (+2.8%). Individually, exports declined to Germany (-15.4%), Spain (-15.3%), Turkey (-27.0%), and the UK (-13.6%), while increasing to Switzerland (+33.2%), the US (+8.0%), and OPEC countries (+14.5%). Sector-wise, export declines were led by transport equipment (-22.1%) and refined petroleum products (-18.2%), partly offset by strong gains in basic metals (+30.7%). Meanwhile, imports fell 1.3% to €48.8 billion, with a larger drop from EU partners (-2.0%) than non-EU countries (-0.3%). Specifically, arrivals fell from Belgium (-21.9%), Spain (-4.4%), and Russia (-60.5%). Among commodities, imports dropped the most in mineral extraction (-30.1%) and coke and refined petroleum products (-16.6%).
