Italy’s trade surplus narrowed to EUR 4.16 billion in October 2025 from the EUR 4.62 billion in the same month a year earlier, but it was above market expectations of EUR 3.22 billion, with exports growing less than imports. Exports increased by 2.3% year-on-year to EUR 58.56 billion, supported by higher sales to both EU (+0.5%) and non-EU (+4.1%) markets. The sectors contributing most to the growth were pharmaceuticals, medicinal chemicals, and botanicals (+18.5%) and basic metals and fabricated metal products, excluding machinery and equipment (+13.7%). Among key trading partners, exports grew mostly to Switzerland (+34.9%), the United States (+9.7%), OPEC countries (+15.8%), Spain (+7.3%), and France (+3.7%). Meanwhile, imports rose faster at 3.4% to EUR 54.41 billion, with purchases from non-EU (+4.2%) rising more than EU markets (+2.7%). From January to October, the country’s trade surplus stood at EUR 39.6 billion, largely unchanged from EUR 39.8 billion the same period in 2024.