Despite a slowdown in April 2026, Italian exports in the first four months of the year recorded a trade surplus of more than 15 billion euros and an increase in Made in Italy exports greater than imports. The competitiveness of companies remains high in many sectors, with particularly dynamic demand coming from countries such as Switzerland, the United States and China.
Italian export data
In April 2026 in Italy there was a decrease in exports of 2.2% compared to the previous month. The decline affects both the European Union (-2.1%) and non-EU markets (-2.4%), signaling a slowdown phase after the particularly positive results of the previous months.
However, analyzing the February-April 2026 quarter compared to the previous three months, a growth in exports of 5% emerges, while imports increased by 6.2%, confirming a still expansive commercial dynamic.
Even the comparison on an annual basis returns a more encouraging picture, in April 2026, Italian exports grew by 8.8% in value compared to the same month in 2025, while in terms of volume the increase was equal to 3.5%. And the increase is even more marked in non-European markets, where exports increase by 12%, compared to the +5.9% recorded towards European Union countries.
However, a significant part of this growth is attributable to the increase in prices and the different composition of exported products, while the increase in volumes is limited to 0.4%. This means that the value of exported goods also grows thanks to a positioning on higher value-added productions and the increase in prices of some industrial goods.
The sectors that drive Made in Italy
Among the production sectors that contribute most to the growth of exports, manufacturing industries and goods with technological content emerge above all. In detail:
- the base metals and metal products sector, excluding machinery and systems, recorded exceptional growth of 32.9%, confirming itself as one of the main protagonists of national exports;
- the increase in coke and refined petroleum products marks an increase of 52%, favored by the trend in energy prices and international demand;
- Also positive were the results of machinery and equipment not classified elsewhere, a sector that is a symbol of Italian industrial excellence, with an increase of 6.3%.
They also continue to grow:
- chemical substances and products (+10.5%);
- motor vehicles (+16.1%);
- electrical appliances (+10.4%).
The only sector that shows a less favorable dynamic is the pharmaceutical sector, which represents the exception compared to widespread growth in most production sectors.
Where Italy exports the most
Looking at the export destination:
- Switzerland recorded the most significant increase, with growth of 39.4%, confirming itself as a strategic market especially for high value-added goods and industrial products;
- the performance towards China was also positive, where Italian exports increased by 36.2%, a sign of recovering demand for numerous Made in Italy products;
- the United States continues to represent a fundamental outlet for Italian companies, with an increase in exports of 12.1%.
Trade relations with France also remain solid (+7.6%), as do those with OPEC countries (+19.4%) and with Germany (+5%), which remains one of Italy’s main economic partners.
Exports to Turkey, however, went against the trend, decreasing by 20.5%, and to Belgium, where there was a drop of 13%.
Over 15 billion trade surplus in the first four months of 2026
One of the indicators of the good health of Italian foreign trade is represented by the trade balance surplus. In the month of April 2026 alone, the trade balance reached 4.293 billion euros, a clear improvement compared to the 2.448 billion recorded in the same period of 2025.
Even more relevant is the cumulative data for the first four months of the year – between January and April 2026 – when the Italian trade surplus reached 15.2 billion euros, compared to 11.3 billion in the same period of the previous year. This is an increase of almost 4 billion euros which demonstrates the ability of Italian companies to strengthen their presence on international markets.
Particularly significant is the surplus of non-energy products, which went from 6.667 billion euros in April 2025 to 9.462 billion in April 2026. However, the energy deficit remains, equal to 5.169 billion euros, higher than the 4.219 billion recorded a year earlier, due to the increase in the costs of energy raw materials.
