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Financial News: Italy's Current Account Surplus Increases In May

Italy's Current Account Surplus Increases In May

07/20/2017 - 08:20:00 (RTTNews)

(RTTNews) - Italy's current account surplus increased in May from the previous year, the Bank of Italy reported Thursday.

The current account surplus totaled EUR 3.26 billion compared to EUR 2.98 billion in the same period of last year.

The surplus on trade in goods fell to EUR 5.49 billion from EUR 5.73 billion. At the same time, services showed a shortfall of EUR 3 million after logging EUR 165 million surplus.

Primary income showed EUR 1.89 billion shortfall compared to -EUR 2.58 billion in last year. The negative balance in secondary income rose to EUR 343 million from EUR 341 million.

In the twelve months ending in May, the current account surplus amounted to EUR 44.4 billion, equivalent to 2.6 percent of GDP, compared to EUR 33.5 billion in the previous twelve months.

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