Bank of Italy updates balance of payments and international investment position data as 12 month current account surplus reaches EUR 32.9 billion

The Bank of Italy has published updated balance of payments and international investment position statistics for April 2026, showing a stronger external balance over the past year. In the 12 months to April 2026, Italy’s current account surplus widened to EUR 32.9 billion, equal to 1.4 percent of GDP, from EUR 18.0 billion in the corresponding period a year earlier. The improvement was driven mainly by primary income returning to surplus at EUR 3.4 billion from a EUR 4.4 billion deficit and by the goods surplus widening to EUR 54.8 billion from EUR 47.1 billion. The secondary income deficit narrowed slightly to EUR 18.6 billion from EUR 19.1 billion, while the services balance deteriorated to a EUR 6.7 billion deficit from EUR 5.7 billion. On the financial account, net acquisitions of foreign assets totaled EUR 45.5 billion over the same 12-month period, compared with EUR 44.1 billion a year earlier. Positive balances in direct investment at EUR 37.4 billion, other investment at EUR 34.7 billion and reserve assets at EUR 2.5 billion were partly offset by negative balances in portfolio investment at EUR 26.8 billion and financial derivatives at EUR 2.3 billion. In April alone, foreign assets held by residents in Italy increased by EUR 13.3 billion, mainly reflecting EUR 13.7 billion in portfolio investment abroad. Italy’s external liabilities increased by EUR 2.1 billion, as foreign purchases of Italian securities totaling EUR 16.5 billion, including EUR 18.7 billion of Italian government securities, were partly offset by reductions in other investment liabilities of EUR 12.8 billion and direct investment liabilities of EUR 1.6 billion.