Made in Italy

Gold and cars drive exports: up 8.8% in April

Switzerland is booming thanks to precious metals. Domestic sales rose by 3.2% in the first four months of the year.

by Luca Orlando

 REUTERS

2' min read

Translated by AI
Versione italiana

2' min read

Translated by AI
Versione italiana

April was a strong month for Italian exports, which grew by 8.8% with gains seen across several markets. However, the key driver was gold exports to Switzerland, which saw base metal exports almost triple in value. Since the start of the year, exports in this category to Bern – mainly from the Arezzo district – have reached nearly €7 billion, up 262%.

Among the countries, France and Germany have made progress, as has the US, which has seen growth of 12%.

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Exports to China are growing strongly, by over 30%, driven once again by pharmaceutical products, whose value has quadrupled.

Among the sectors, in addition to precious metals, double-digit growth was recorded in the automotive and electronics sectors.

In the first four months of the year, national exports thus grew by 3.2% overall.

In detail

In April 2026, exports are expected to see a sharper month-on-month decline (-2.2%) than imports (-0.6%). The month-on-month decline in exports affects both markets, the EU (-2.1%) and non-EU (-2.4%).

In the February–April 2026 quarter, exports rose by 5.0% and imports by 6.2% compared with the previous quarter.

In April 2026, exports grew by 8.8% year-on-year in value and by 3.5% in volume. The year-on-year growth in exports in monetary terms was stronger for non-EU markets (+12.0%) than for EU markets (+5.9%). Imports show a year-on-year increase of 5.5% in value, affecting both areas, the EU (+5.2%) and non-EU markets (+5.9%); in volume terms, imports grow by 3.6%.

The sectors contributing most to the year-on-year growth in exports include: base metals and metal products, excluding machinery and equipment (+32.9%), coke and refined petroleum products (+52.0%), machinery and equipment not elsewhere classified (n.e.c.) (+6.3%), chemicals and chemical products (+10.5%), motor vehicles (+16.1%) and electrical equipment (+10.4%).

On an annual basis, the countries making the largest contributions to national exports are Switzerland (+39.4%), the United States (+12.1%), China (+36.2%), France (+7.6%), OPEC countries (+19.4%) and Germany (+5.0%). Exports to Turkey (-20.5%) and Belgium (-13.0%) have fallen.

The trade balance in April 2026 stood at +€4,293 million (compared with +€2,448 million in the same month of 2025). The energy deficit (-€5,169 million) was higher than a year earlier (-€4,219 million). The surplus in trade in non-energy products rose from +6,667 million in April 2025 to +9,462 million in April 2026.

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