FX.co ★ Italy Posts Largest Current Account Surplus Since 2020

In July 2025, Italy's current account surplus increased to €8.7 billion, compared to €5.9 billion in July of the previous year. This represents the most substantial surplus since October 2020. The rise was primarily attributed to an expansion in the goods account, which grew to €7.5 billion from €6.4 billion in July 2024, as well as an increase in the services account, which climbed to €2.1 billion from €1.9 billion. Furthermore, the primary income balance shifted from a deficit of €1.3 billion a year earlier to a surplus of €0.9 billion. Conversely, the secondary income deficit widened, growing to €1.8 billion from €1.1 billion.