Italy Non-EU Trade Balance Swings To Deficit
By RTTNews Staff Writer ✉ | Published:
Italy’s non-EU trade balance turned to a deficit in August from a surplus in the previous year, as imports grew more rapidly than exports, data from the statistical office Istat showed on Tuesday.
The non-EU trade balance logged a deficit of EUR 5.792 billion in August versus a surplus of EUR 1.298 billion in the same month last year.
In July, there was a shortfall of EUR 2.828 billion.
Annual export growth accelerated from 14.2 percent in July to 22.0 percent in August.
Meanwhile, imports grew significantly by 70.9 percent yearly in August, following a 72.9 percent surge in the prior month.
On a monthly basis, exports fell a seasonally adjusted 7.0 percent and imports slid 3.6 percent.
The monthly downward trend in exports was largely due to sharp falls in outflows of energy and capital goods.
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