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 Manual.
In 2020 Italy's technology balance of payments increased compared to the previous year, reaching €1.0 billion (from €0.3 billion). The widening of the surplus reflected the increase in the balances of charges for the use of intellectual property and of research and development services, partly counterbalanced by the worsening of the IT services balance. Overall, disembodied technology trade displayed greater resilience in 2020 than other types of services. Manufacturing continued to record a surplus and the deficit in services shrunk. In an international comparison, Italy's disembodied technology flows as a percentage of GDP are lower than the European average, although in recent years they have represented one of the most dynamic components of Italy's trade in services.
