Italy Posts Largest Current Account Surplus Since 2020

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Italy’s current account surplus rose to €8.7 billion in July 2025 from €5.9 billion in the same month last year. This marked the largest current account surplus since October 2020, driven by a wider surplus in the goods account (€7.5 billion vs €6.4 billion in July 2024) and the services account (€2.1 billion vs €1.9 billion). Additionally, the primary income balance swung to a surplus of €0.9 billion from a deficit of €1.3 billion a year ago. On the other hand, the secondary income deficit expanded to €1.8 billion from €1.1 billion.

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