Financial News: Italy Trade Surplus Rises In June

Italy Trade Surplus Rises In June

(RTTNews) - Italy's trade surplus increased in June as exports registered a notable rebound, monthly data from the statistical office ISTAT showed on Monday.

The trade surplus rose to EUR 5.4 billion in June from EUR 5.2 billion in the same period last year. The surplus totaled EUR 6.1 billion in May.

Exports increased 4.9 percent from the previous year, reversing a 1.8 percent drop in May. At the same time, imports gained 4.8 percent, in contrast to the 1.5 percent fall in the prior month.

The sectors that contributed most to the growth in exports were pharmaceuticals, chemical-medicinal products, and botanicals transportation equipment excluding motor vehicles and food, beverages and tobacco.

In the first half of the year, exports recorded a 2.1 percent annual growth, largely driven by increased sales of pharmaceuticals, medicinal chemicals, and botanicals. At the same time, imports advanced 4.6 percent.

The trade balance showed a surplus of EUR 22.8 billion during the January to June period. The trade with EU countries resulted in a deficit of EUR 1.7 billion, while that with non-EU countries showed a surplus of EUR 24.5 billion.

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