Italian government bonds are confirmed more and more attractive to foreign investors, due to a mix of factors, such as the still interesting returns, the drop in the spread, the improvement of the sovereign rating and the stability of the government. Factors that, in a phase in which the bond is back in vogue, make our BTPs a profitable investment, pushing purchases from abroad. According to Bankitalia’s latest update, in fact, foreign investors purchased 34.2 billion in tricolor public securities.
Purchases of BTP & Co. for 34.2 billion
In the twelve months in June, according to the latest Bankitalia data on the Libra of payments, the liabilities of Italy on abroad have increased by 62 billion, affected in the “other investments” component of the modification of the operational management model of the rate of rate adopted by an Italian branch against the foreign parent company. Beyond this operation, a significant contribution derived from investments in Italian portfolio securities, which grew by 45.5 billion. Of these, 34.2 billion refer to public securities held by foreign investors, Massimo since 2019, while direct investments have dropped (-4.2 billion).
Activities side, in June 2025, activities abroad of residents in Italy increased by 72.2 billion. The increase has affected all the main components and to a very significant extent the “other investments” (61.8 billion). Resident investors also made purchases of foreign portfolio securities for 7 billion euros.
Financial account in active for 48 billion
The cumulative balance of the financial account in June 2025 recorded acquisitions of net activities abroad for 48 billion, increasing compared to 37.7 billion in the same period of the previous year. The negative balance of portfolio investments (-58.4 billion) was more than counterbalanced by the positive sales of direct investments (9.2 billion), derivatives (2.1 billion), official reserves (2.0 billion) and, above all, of “other investments” (93 billion).
Current account extends surplus
The current account, always in the twelve months in June, recorded a surplus of 26.1 billion euros, equal to 1.2% of GDP, against the surplus of 18.8 billion recorded in the twelve months in May. The improvement is almost exclusively linked to the improvement of the balance of primary income (-7.7 billion from -17.5), in the face of the substantial stability of the secondary income balance (-18.1 billion). On the other hand, the surplus of assets has dropped (56.6 billion from 58.7) and the deficit of the services has worse (-4.7 billion from -4.2).
