Financial News: Italy Current Account Surplus Grows In September

Italy Current Account Surplus Grows In September

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

The current account surplus rose to EUR 1.07 billion from EUR 0.33 billion last year.

The good surplus increased to EUR 2.57 billion from EUR 2.29 billion. At the same time, the surplus in services trade shrank to EUR 334 million from EUR 493 million.

The primary income balance showed a deficit of EUR 243 million, down from EUR 630 million. The shortfall on secondary income dropped to EUR 1.59 billion from EUR 1.82 billion.

The capital account balance turned to a shortfall of EUR 333 million in September from a surplus of EUR 924 million in the previous year. Meanwhile, the financial account balance swung to a surplus of EUR 3.78 billion from a deficit of EUR 5.0 billion in September 2023.

In the twelve months ending in September, the current account surplus came in at EUR 21.7 billion, equivalent to 1.0 percent of GDP, compared to a deficit of EUR 7.7 billion in the corresponding period of 2023.

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