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 2021 Italy's technology balance of payments reached an all-time high, with a surplus of €2.6 billion (from €1.0 in 2020). The improvement concerned all the main components; only the slight shortfall in fees for the use of intellectual property has marginally increased. Exports grew in line with other types of services, while imports increased to a significantly lesser extent. The surplus on the disembodied technology trade is entirely attributable to manufacturing companies, which account for about 60 per cent of exports; the share of companies belonging to foreign groups increased further.
