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Financial News: Italy Current Account Surplus Grows In June

Italy Current Account Surplus Grows In June

08/18/2017 - 06:19:00 (RTTNews)

(RTTNews) - Italy's current account surplus increased in June from a year ago, data from the Bank of Italy showed Friday.

The current account surplus climbed to EUR 5.26 billion in June from EUR 4.04 billion in the corresponding month last year.

The surplus on trade in goods fell to EUR 5.21 billion in June from EUR 5.38 billion in the same month of 2016. Similarly, services surplus shrank to EUR 551 million from EUR 661 million.

At the same time, primary income balance turned to a surplus of EUR 475 million in June from a deficit of EUR 1.12 billion last year. The negative balance in secondary income widened to EUR 981 million from EUR 889 million.

The capital account deficit rose notably from EUR 42 million to EUR 208 million. In contrast, the financial account balance came in at a surplus of EUR 5.5 billion versus a shortfall of EUR 5.54 billion.

In the twelve months ending in June , the current account balance surplus amounted to EUR 45.9 billion, equivalent to 2.7 percent of GDP, compared to 36.7 billion in the twelve months ending in June 2016.

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