Italian Trade Balance Moves To Deficit In August

Italian Trade Balance Moves To Deficit In August


Italy's trade balance turned to deficit in August, the latest figures from the statistical office Istat showed Tuesday.
The trade balance showed a shortfall of EUR 598 million in August compared to a surplus of EUR 4.51 billion in July. A year ago, the balance was in a deficit of EUR 2.9 billion.
Exports rose 3.9 percent month-on-month on a seasonally adjusted basis in August, following a 0.7 percent rise in the previous month. Shipments grew for a second consecutive month. On annual basis, exports rose 8.4 percent.
Imports grew 4.4 percent month-on-month after a 3.3 percent gain in the previous month. Imports, however, fell 1.1 percent compared to the same month a year ago.
During the month, trade with EU countries resulted in a surplus of EUR 374 million, while trade with non-Eu countries saw a deficit of EUR 972 million.