Italy’s trade balance for olive oil has returned to a surplus. According to the latest ISTAT data analyzed by Sol2Expo for World Olive Day, from January to August 2024, Italian olive oils recorded international sales exceeding €2 billion, achieving a 59% increase in value compared to the same period in 2023. This jump, which was also influenced by the rise in price lists, has resulted in a positive export balance after four years (to +5.2 million euros). This is encouraging news for the Italian sector, which has been grappling with two consecutive oil campaigns that were particularly disappointing. Net of inflationary dynamics, Sol2Expo's analysis reveals a 5.4% increase in volume, driven by non-European markets (+9.6% the volume result for the first 8 months of 2024) - in particular the USA (+9.6%), Japan (+6.1%), and Canada (+12.9%) - as well as Germany, the second largest trading partner (+17.9%). Acting as an ambassador, extra virgin olive oil, a symbol of the Mediterranean diet and the quality of Made in Italy cuisine, accounted for approximately 85% of foreign sales between January and August of this year (the final balance of the eight months exceeds 1.7 billion) and generated a trade surplus of nearly 107 million euros.