ROME (ITALPRESS) – In 2023, Italy’s balance of payments balance of technology — which includes fees for the use of intellectual property and trade in information technology services, research and development services, and architectural and engineering services (i.e., transactions with foreign countries in technology not embodied in physical goods: disembodied technology) — was in surplus by 1.6 billion euros, an insignificant increase from the previous year (0.4 billion) and close to the 2021 peak. The data are compiled by the Bank of Italy according to the criteria of the International Monetary Fund’s Sixth Manual on Balance of Payments and International Investment Position. The improvement is mainly due to that of the surplus in research and development services and the reduction of the deficit in intellectual property fees. Between 2010 and 2023, disembodied technology exports grew more than other types of services. In 2023, the sample of surveyed firms was expanded to fulfill new statistical requirements; based on the new estimates, disembodied technology transactions can be attributed nearly 60 percent to firms operating in the service sector, whose balance is positive although lower than that of manufacturing firms as a whole. The weight of larger enterprises and companies belonging to foreign groups on disembodied technology trade is confirmed to be high.
– Bank of Italy press office photo -(ITALPRESS).
