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Financial News: Italy Trade Balance Swings To Deficit In April

Italy Trade Balance Swings To Deficit In April

06/17/2022 - 07:25:00 (RTTNews)

(RTTNews) - Italy's foreign trade balance showed a deficit in April versus a surplus in the previous year, as imports grew much faster than exports, data published by the statistical office Istat showed on Friday.

The trade balance in April was a shortfall of EUR 3.666 billion against a surplus of EUR 5.871 billion in the corresponding month last year. In March, there was a deficit of EUR 229 million.

Exports rose 14.9 percent year-over-year in April, while imports increased at a much faster rate of 42.4 percent.

Outgoing flows to EU countries increased 17.7 percent and those to non-EU countries grew 11.9 percent.

On a monthly basis, both exports and imports rose a seasonally adjusted 1.5 percent and 7.0 percent, respectively, in April.

Data also showed that import prices climbed 21.2 percent annually and 2.7 percent monthly in April.

Another report from the statistical office revealed that annual construction output growth eased for the second straight month to 16.9 percent in April from 20.0 percent in March. Output has been increasing since September last year.

On a monthly basis, construction production contracted 1.3 percent in April, reversing a 2.3 percent rise in the previous month. This was the first fall in nine months.

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