In 2020, Italy's technology balance of payments surplus, which includes fees for the use of intellectual property (patents and royalties), as well as trade in computer services, R&D services, and architectural, engineering and other technical services - collectively defined as international trade in disembodied technology - increased compared with the previous year, from €0.3 billion to €1.0 billion.
The increase of the surplus reflected the improvement in balances regarding fees for the use of intellectual property, and in R&D services, partly offset by the larger deficit in computer services. Overall, trade in disembodied technology in 2020 proved more resilient than that in other types of services, even excluding the ones most penalized by the COVID-19 pandemic (travel and transport). Exports actually increased, though only marginally, benefiting from the recovery in sales of R&D services; imports declined, mostly owing to the contraction in fees for the use of intellectual property, though at a slower pace compared with that recorded for other services.
Manufacturing firms maintained a positive balance, up slightly compared with the previous year; the deficit of service firms also narrowed down, thanks above all to growth in exports.
While it is one of the most dynamic components of trade in services in Italy, disembodied technology trade, as a share of GDP, of this country remains below the European average.
