The technology balance of payments brings together some items of the balance of payments that refer to international trade in technology other than physical goods (disembodied technology); the taxonomy has been defined by the OECD. Data are compiled by Banca d’Italia and transmitted annually to the OECD, on the basis of the statistical standards set out by the 6th IMF Manual (BPM6).
In 2019 Italy's overall technology balance of payments dropped significantly compared to the previous year while remaining positive (€0.2 billion). The contraction in the surplus reflected both the increase in imports and the reduction in exports, which characterized all components except IT services. The manufacturing sector continues to record a surplus, albeit less than in the previous year; the deficit in the services sector, on the other hand, widened. In international comparison, Italy's disembodied technology flows are, in relation to GDP, lower than the European average, although in recent years they represent one of the most dynamic components of Italian trade in services.
