Financial News: Italy Trade Surplus Grows In October

Italy Trade Surplus Grows In October

12/17/2024 - 06:32:00 (RTTNews)

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

The trade surplus rose to EUR 5.15 billion in October from EUR 4.49 billion in the corresponding month last year. That expected surplus was EUR 3.22 billion.

In September, there was a surplus of EUR 2.58 billion.

Exports rose 1.6 percent annually in October after a 2.1 percent fall in September. Outgoing flows to EU countries increased by 3.7 percent, while those to non-EU countries dropped by 0.7 percent.

Data showed that imports rose 0.4 percent annually in October, reversing a 3.1 percent fall in the prior month.

On a seasonally adjusted basis, both exports and imports slid by 1.9 percent and 0.3 percent, respectively, in October from a month ago. As a result, the trade surplus shrank to EUR 3.5 billion from EUR 4.4 billion in September.

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