In July 2025, exports and imports of goods recorded nominal year-on-year changes of -11.3% and +2.8%, respectively (+0.2% and +3.7%, in the same order, in June 2025). However, when transactions without transfer of ownership (TTE) are excluded, slight increases were observed in both flows: +0.3% in exports and +0.2% in imports (+2.3% and +5.0%, in the same order, in June). 

The trade deficit amounted to EUR 3,293 million in July 2025, representing a EUR 1,173 million increase compared to the same month in the previous year. 

In July 2025, unit value indices (prices) continued to record negative changes, -1.8% in exports and -2.9% in imports (-1.5% and -2.1%, respectively, in June 2025; +0.5% and -2.1% in July 2024, in the same order).

This press release includes an analysis of international trade flows of goods with United States, based on definitive results for 2024 and the data already compiled for the 1st half of 2025.