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Financial News: Italy's Current Account Surplus Increases In November

Italy's Current Account Surplus Increases In November

01/19/2021 - 07:40:00 (RTTNews)

(RTTNews) - Italy's current account surplus increased in November from the previous year, the Bank of Italy reported Wednesday.

The current account surplus rose to EUR 7.11 billion from EUR 5.09 billion last year.

The good surplus increased to EUR 6.65 billion from EUR 5.07 billion. At the same time, the shortfall in services trade narrowed to EUR 1.15 billion from EUR 1.49 billion.

Primary income rose to EUR 2.85 billion from EUR 2.21 billion. On the other hand, the shortfall on secondary income widened to EUR 1.25 billion from EUR 700 million.

The capital account showed a surplus of EUR 80 million versus a deficit of EUR 244 million in the previous year. In the twelve months ending in November, the current account surplus came in at EUR 58.9 billion, equivalent to 3.5 percent of GDP, from EUR 51.2 billion in the corresponding period of 2019.

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