Exports continued to rise (+4.7 per cent) in July too. A boom in car purchases from China

Some of the trends observed in recent months are continuing, albeit at a slower pace. On the one hand, there are exports of gold bullion to Switzerland, particularly from the Arezzo district. Already in the first half of the year, exports of ‘base metals’ to Bern had more than tripled to nearly ten billion euros, but in July the growth was slower, with this Istat category recording a 29 per cent increase. Switzerland, however, thanks to a surge in transport equipment, remains the country with the highest growth in Italian exports, with an increase of almost 40 points.

On the purchasing front, however, Chinese cars continue their strong run, gaining further market share month after month. In July, growth stood at 42 per cent, whilst over the first seven months of the year, the figure more than doubled: out of total vehicle imports from abroad amounting to 15.3 billion between January and July, imports from China totalled 2.4 billion, accounting for over 15 per cent of the total.

The trade balance in July 2026 stood at +8,240 million euros (compared with +7,829 million in the same month of 2025). The energy deficit (-5,515 million) is higher than it was a year earlier (-4,117 million). The surplus in trade in non-energy products rose from +11,947 million in July 2025 to +13,756 million in July 2026.

In detail

In July, exports are estimated to have shown modest month-on-month growth (+0.3 per cent) whilst imports fell (-1.2 per cent). The slight month-on-month increase in exports is the result of a rise in sales to non-EU countries (+6.9%) and a fall in sales to the EU (-5.6%). This was announced by Istat.

In July, exports rose by 4.7 per cent year-on-year in value terms and fell by 1.7 per cent in volume terms. The year-on-year growth in exports in monetary terms was stronger for non-EU markets (+6.6 per cent) than for EU markets (+2.7 per cent). Imports recorded year-on-year growth of 4.6 per cent in value, affecting both the EU (+4.9 per cent) and non-EU markets (+4.2 per cent); in volume, imports fell by 2.7 per cent.

In the first seven months of 2026, exports recorded year-on-year growth of 4.6 per cent, driven mainly by higher sales of base metals and metal products, excluding machinery and plant (+26.4 per cent), coke and refined petroleum products (+24.0 per cent) and motor vehicles (+8 per cent).

The trade balance in July stood at +8,240 million euros (compared with +7,829 million in the same month of 2025). The energy deficit (-5,515 million) is higher than a year earlier (-4,117 million). The surplus in trade in non-energy products rose from +11,947 million in July 2025 to +13,756 million in July 2026.