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Financial News: Italy Current Account Surplus Grows In September

Italy Current Account Surplus Grows In September

11/17/2017 - 06:07:00 (RTTNews)

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

The current account surplus rose to EUR 4.3 billion in September from EUR 3.9 billion in the same month of 2016.

The trade in goods showed a surplus of EUR 5.03 billion compared to EUR 4.3 billion last year. The surplus on services climbed from EUR 64 million to EUR 204 million.

At the same time, primary income declined to EUR 549 million from EUR 871 million. On the other side, the deficit on secondary income widened to EUR 1.48 billion from EUR 1.38 billion.

The capital account balance came in at a shortfall of EUR 218 million in September, down from EUR 354 million last year. Meanwhile, the financial account surplus shrank to EUR 6.39 billion from EUR 8.3 billion.

In the twelve months to September, the current account surplus totaled EUR 46.8 billion, equivalent to 2.7 percent of GDP, compared to 43.8 billion in the corresponding period of 2016.

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