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Financial News: Italy Trade Balance Swings To Deficit

Italy Trade Balance Swings To Deficit

06/18/2020 - 08:18:00 (RTTNews)

(RTTNews) - Italy's trade balance swung to a deficit in April, as exports decreased faster than imports, amid the coronavirus pandemic, data from the statistical office Istat showed on Thursday.

The trade balance registered a deficit of EUR 1.16 billion in April versus a surplus of EUR 2.85 billion in the same period last year. In March, the trade surplus was EUR 5.68 billion.

Exports decreased 41.6 percent year-on-year in April, following a 13.4 percent fall in March.

On an annual basis, imports fell 33.7 percent in April, following an 18.1 percent decrease in the preceding month.

On a seasonally adjusted basis, exports fell 34.9 percent and imports declined 18.5 percent monthly.

Separate data from the statistical office showed that the construction output decreased a record 51.5 percent month-on-month in April, following a 36.4 percent decline in March.

On a yearly basis, construction output declined 67.8 percent in April, following a 35.5 percent fall in the prior month.

The construction output declined the most since the survey began in 1995, on both yearly and monthly basis, the agency said.

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