Financial News: Italy Trade Surplus Grows In February

Italy Trade Surplus Grows In February

04/16/2024 - 06:48:00 (RTTNews)

(RTTNews) - Italy's foreign trade surplus increased in February from a year ago as exports rose amid a fall in imports, data from the statistical office Istat showed on Tuesday.

The trade surplus rose to EUR 6.03 billion from EUR 2.09 billion in the corresponding month last year. In January, there was a surplus of EUR 2.5 billion.

Exports recovered 1.7 percent annually in February after a 0.2 percent decline in the previous month. Outgoing flows to EU countries rose 0.6 percent, and those to non-EU countries climbed by 2.8 percent.

Data showed that imports shrank 6.1 percent annually in February, though slower than the 13.1 percent slump in the prior month.

On a seasonally adjusted basis, both exports and imports increased by 5.1 percent and 3.8 percent, respectively. As a result, the trade surplus dropped somewhat to EUR 6.1 billion from EUR 6.4 billion in January.

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