Financial News: Italy Current Account Surplus Shrinks In February

Italy Current Account Surplus Shrinks In February

(RTTNews) - Italy's current account surplus decreased in February from the previous year, the Bank of Italy reported Wednesday.

The current account surplus dropped to EUR 1.6 billion from EUR 2.1 billion last year.

The goods trade surplus shrank to EUR 5.4 billion from EUR 6.7 billion. At the same time, the shortfall in services trade lessened to EUR 1.7 billion from EUR 1.9 billion.

Meanwhile, the primary income balance showed a deficit of EUR 204 million, down from EUR 956 million. The balance on secondary income turned to a surplus of EUR 13 million from a deficit of EUR 137 million.

The capital account balance turned to a surplus of EUR 102 million in February from a deficit of EUR 126 million in the previous year. At the same time, the financial account balance showed a shortfall of EUR 530 million versus a surplus of 3.6 billion.

In the twelve months ending in February, the current account surplus came in at EUR 22.5 billion, equivalent to 1.0 percent of GDP, compared to a surplus of EUR 10.1 billion in the corresponding period of 2024.

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