Financial News: Italy Current Account Surplus Grows In May

Italy Current Account Surplus Grows In May

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

The current account surplus rose to EUR 1.67 billion from EUR 0.93 billion in the corresponding month last year.

The goods trade surplus shrank to EUR 6.28 billion from EUR 6.49 billion. Similarly, the surplus in services trade lessened to EUR 145 million from EUR 255 million.

Meanwhile, the primary income deficit narrowed to EUR 4.05 billion from EUR 5.25 billion. The secondary income shortfall was EUR 0.71 billion versus EUR 0.57 billion last year.

The capital account balance turned to a surplus of EUR 120 million in May from a deficit of EUR 408 million in the previous year. At the same time, the financial account swung to a shortfall of EUR 4.32 billion versus a surplus of 7.13 billion.

In the twelve months ending in May, the current account surplus came in at EUR 24.2 billion, equivalent to 1.1 percent of GDP, compared to a surplus of EUR 16.7 billion in the corresponding period of 2024.

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