It was a happy new year for the Italian commercial scale. In 2024, despite the international difficulties (the German contraction in particular), the commercial surplus made a leap, to 54.9 billion euros, growing from 34.011 billion in 2023. According to Istat data, a record surplus has arrived of 104.4 billion euros, net of energy. Positive record for food and pharmaceuticals, negative for motor vehicles.
In 2024 the export, which the previous year had been stable, recorded a slight drop of 0.4%, but if energy products have been excluded, it grew by 0.3%. A year “saved” by a good quarter quarter. Both export and import increased by 0.8%. In December, exports recorded a economic increase of 1.9%, especially in the EU area. On an annual basis, exports in value increased by 2.9%, while in volume it dropped by 0.5%. Imports showed an increase of 1.7% in value, in this case especially in the non -EU area.
The energy deficit has been significantly reduced, going from -65.137 billion in 2023 to -49.555 billion in 2024. A result dictated by the two -digit drop in the value of energy imports and by the decrease in import prices. The reduction of energy deficit is an element of stabilization, but the trend of the prices of raw materials will be a key factor for 2025.
To stand out in 2024 is the positive balance of the manufacture (net of energy) which has achieved 104.478 billion euros, the highest value since 1993. A result that has been driven by exports of consumer goods, intermediate and instrumental. The descent of imports pushed the total commercial balance upwards, which from 34 billion in 2023 has risen to 55 billion. We are distant from the record of 63 billion in 2020, but it is the first year that marks an important recovery.
The commercial balance was mainly towed by non-EU countries, with a surplus of 65 billion euros, 20 more than the previous year. In Europe, however, the balance remains negative, with a passive of 10 billion. The impact of Germany is decisive, which bought 5% less from Italy, causing a loss of 3.7 billion euros. The crisis of the German automotive sector has significantly influenced 30.7% of Italian cars sales, i.e. 1.5 billion less. Turkey stands out, with a 24% growth in imports from Italy. The American market worries. In 2024, the active balance to the US descended to 39 billion, compared to the 42 of 2023, marking a slight retreat. And now there are the duties of the Noprescent Trump.
In 2024 there were two sectors that boom made: food and pharmaceutical. Sales of food, drinks and tobacco products increased by 7.9% (60 billion euros) while the pharmaceutical marked a 49 billion euros (+.9.5%) which means 17 billion more than the pre- Covid. Also good musical instruments, sporting articles and medical instruments (+19.6%) are also good. On the contrary, exports above all the strong drop in motor vehicles (-16.7%), of the means of transport excluded motor vehicles (-8.9%) and refined oil products (-15.4%) have slowed out.
The main challenges of 2025 are the consolidation of exports in non-EU markets (with a diversification of the outlet markets perhaps), the maintenance of the positive balance with the United States and the management of problems related to the crisis of the German market.
