Financial News: Italy Trade Surplus Grows In June

Italy Trade Surplus Grows In June

08/09/2024 - 07:25:00 (RTTNews)

(RTTNews) - Italy's foreign trade surplus increased in June from a year ago as imports fell faster than exports, data from the statistical office Istat showed on Friday.

The trade surplus rose to EUR 5.1 billion from EUR 3.4 billion in the corresponding month last year. In May, there was also a surplus of EUR 6.4 billion.

Exports fell 6.1 percent annually in June after a 1.7 percent fall in the previous month. Outgoing flows to EU countries declined by 7.2 percent, while those to non-EU countries rose by 4.9 percent.

The decline in exports involved almost all the main trading partner countries and became significant again towards Germany, the agency said.

Data showed that imports shrank 9.6 percent annually in June, following a 4.9 percent decrease in the prior month.

On a seasonally adjusted basis, exports climbed 0.5 percent and imports remained flat compared to last month. As a result, the trade surplus rose to EUR 4.5 billion from EUR 4.2 billion in May.

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