The area’s financial assets and liabilities vis-à-vis the rest of the world amounted to 184 and 196 percent of GDP, respectively, up from 92 and 99 percent in 1999. In the US the corresponding figures in 2010 were 140 and 157 percent. Italy is very open to foreign trade.
On the external front, exports have increased slower than imports thus further widening the trade deficit to nearly 30 percent of GDP.