Italy’s trade surplus expanded to €2.0 billion in August 2025 from €1.3 billion in the same month last year, but it was below expectations of €7.55 billion, with exports falling less than imports. Exports decreased by 1.1% year-on-year to €38.7 billion due to lower sales to non-EU markets (-7.0%), which offset the increase in shipments to the EU (+5.4%). The main sectors dragging down exports were machinery and equipment n.e.c. (-5.6%); sporting goods, games, musical instruments, precious metals, medical instruments, and other n.e.c. products (-19.8%); and leather goods (excluding clothing) and similar products (-9.5%). By destination, exports dropped sharply to the US (-21.1%), Turkey (-25.9%), and China (-16.3%). Meanwhile, imports declined by 4.1% to €36.6 billion amid reduced purchases from both EU (-3.0%) and non-EU (-2.9%) markets. For the January–August period, the country’s trade surplus narrowed to €32.7 billion from €37.3 billion in the same period of the previous year.