The technology balance of payments brings together several items of the balance of payments that refer to international trade in technology other than physical goods ("disembodied technology"), according to the taxonomy defined by the OECD. Data are compiled by Banca d'Italia on the basis of the statistical standards set out by the 6th IMF Balance of Payments and International Investment Position Manual.
In 2022 Italy's technology balance of payments registered a surplus of €0.8 billion, down from the previous year (€2.1 billion); it remains positive from 2012, however. The reduction in the surplus reflected worsening balances of all major components except research and development (R&D). The surplus on the disembodied technology trade is entirely attributable to manufacturing companies, which account for about 60 per cent of exports. Over the past 15 years, disembodied technology transactions have grown at a faster rate than other types of services. In an international comparison, Italy's disembodied technology trade in relation to GDP continues to remain below the European average and that of the major countries in the euro area.
