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Financial News: Italy February Trade Balance Swings To Deficit

Italy February Trade Balance Swings To Deficit

04/20/2022 - 08:26:00 (RTTNews)

(RTTNews) - Italy's trade balance swung to a deficit in February, as imports rose more than exports, data published by the statistical office Istat showed on Wednesday.

The trade balance registered a deficit of EUR 1.662 billion in February versus a surplus of EUR 4.750 billion in the same month last year. In January, the trade deficit was EUR 5.128 billion.

Exports rose 22.7 percent annually in February, following a 22.6 percent increase in January.

Imports grew 44.9 percent yearly in February, following a 44.7 percent rise in the previous month.

The energy deficit in February widened significantly to EUR 7.263 billion from EUR 2.213 million billion a year ago.

On a seasonally adjusted basis, exports rose 1.6 percent monthly in February and imports gained 5.4 percent.

In the December to February quarter, exports rose 5.8 percent quarterly and imports grew 13.6 percent.

Data also showed that import prices grew 18.5 percent yearly in February and rose 1.6 percent from a month ago.

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