The Bank of Italy published updated balance of payments and international investment position statistics showing Italy’s current account surplus narrowed to EUR 12.6 billion, or 0.5% of gross domestic product (GDP), in the 12 months ending in August 2026. This compares with EUR 14.9 billion, or 0.7% of GDP, in the corresponding period a year earlier. Larger income deficits outweighed an increase in the goods surplus. The primary income deficit widened to EUR 3.8 billion from EUR 0.8 billion, while the secondary income deficit increased to EUR 20.9 billion from EUR 19.6 billion. The goods surplus rose to EUR 42.4 billion from EUR 40.7 billion, and the services deficit remained broadly unchanged. In August 2026, Italian residents’ foreign assets increased by EUR 18.0 billion, led by EUR 13.4 billion in portfolio investment. Italy’s foreign liabilities rose by EUR 13.0 billion despite foreign investors’ net sales of EUR 10.7 billion in Italian securities. Other investment liabilities increased by EUR 22.9 billion, including EUR 13.8 billion reflecting a widening of the TARGET debit balance. At the end of June 2026, Italy’s net international investment position was positive at EUR 335 billion, equivalent to 14.6% of GDP, and broadly unchanged from the previous quarter. The statistics incorporate revisions from 2018 onward, previously released on September 30, reflecting updated sources and refinements to compilation methods, particularly for goods.
Bank of Italy reports narrower current account surplus in the year to August 2026
The Bank of Italy’s updated statistics show Italy’s current account surplus fell to EUR 12.6 billion, or 0.5% of gross domestic product, in the year to August 2026 as wider income deficits outweighed a larger goods surplus. In August, foreign assets increased by EUR 18.0 billion and foreign liabilities by EUR 13.0 billion, despite net foreign sales of Italian securities. The net international investment position remained broadly stable at a positive EUR 335 billion at the end of June 2026.