Financial News: Italy Current Account Surplus Grows In June

Italy Current Account Surplus Grows In June

08/20/2024 - 07:04:00 (RTTNews)

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

The current account surplus rose to EUR 4.88 billion from EUR 1.24 billion last year.

The goods trade surplus increased to EUR 5.44 billion from EUR 4.01 billion. Data showed that the service surplus rose to EUR 989 million from EUR 466 million.

The primary income balance turned to a surplus of EUR 27 million from a shortfall of EUR 1.58 billion. The shortfall on secondary income dropped somewhat to EUR 1.58 billion from EUR 1.64 billion.

The capital account showed a shortfall of EUR 222 million in June versus EUR 2.65 billion in the previous year. Meanwhile, the financial account surplus shrank to EUR 2.47 billion from EUR 6.94 billion in June 2023.

In the twelve months ending in June, the current account surplus came in at EUR 33.6 billion, equivalent to 1.6 percent of GDP, compared to a deficit of EUR 22.3 billion in the corresponding period of 2023.

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