Italy's trade surplus widened to €8.24 billion in July 2026, the largest since July 2020, from €7.83 billion in July 2025 and well above market expectations of €4.77 billion. Exports grew by 4.7% year-on-year to a record high of €64.55 billion, mainly driven by shipments of basic metals and fabricated metal products, excluding machinery and equipment (+13.8%), coke and refined petroleum products (+27.3%), and sporting goods, games, musical instruments, precious metals, medical instruments, and other products not classified elsewhere (nec) (+15.9%). Overseas sales grew more strongly for non-EU markets (+6.6%), particularly Switzerland (+39.6%), followed by OPEC countries (+26.3%) and China (+27.6%). Exports to the EU increased 2.8%, led by the Netherlands (+5%) and France (+4.2%). Meanwhile, imports rose by 4.6% to €56.31 billion.