Italy's Non-EU Trade Balance index measures the difference in value between the import and export, of goods and services, coming from non-EU countries and destined to non-EU countries, in a given period of time taken as a reference.
Positive values of this index mean that the goods and services that have been exported from Italy to non-EU countries are more than goods and services that have been imported into Italy from non-EU countries. In this case the country is said to have a positive trade balance or a trade surplus.
Italy is the 7th largest export company and it traditionally has a positive trade balance. The most recent data show that Italy's major exports include packaged medicaments, cars and car parts, as well as textiles and food. Major imports include cars and crude petroleum.
Most of Italy's foreign transactions account for trade with other EU member countries. As for non-EU trade, top destinations are the United States, the United Kingdom and China. The non-EU import origins include China, the United States and Russia.
In relation to the EUR currency and to trading, it can be considered that the values that are higher than the forecasts can be interpreted as positive for the EUR and increase the value of the EUR currency (bullish), on the contrary values lower than the forecasts can be considered as negative for the EUR and decreasing the value of the EUR (bearish) currency.
The chart of the entire available history of the "Italy Trade Balance Non-EU" macroeconomic indicator.
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