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Financial News: Italy's Current Account Surplus Rises In December

Italy's Current Account Surplus Rises In December

02/17/2017 - 07:17:00 (RTTNews)

(RTTNews) - Italy's current account surplus increased slightly in December, the Bank of Italy reported Friday.

The current account surplus rose to EUR 5.53 billion in December from EUR 5.41 billion in the prior year.

The surplus on trade in goods fell to EUR 6.27 billion from EUR 6.51 billion and the deficit on services trade widened to EUR 740 million from EUR 684 million prior year.

Primary income climbed to EUR 1.36 billion from EUR 643 million, while the deficit on secondary income widened to EUR 1.36 billion from EUR 1.05 billion in December 2015.

The capital account surplus declined to EUR 612 million from EUR 831 million a year ago.

In 2016, the current account balance surplus totaled EUR 45.9 billion, equivalent to around 2.8 percent of GDP, compared to EUR 26.7 billion in 2015.

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