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Italy Trade Balance Swings To Deficit

Italy’s trade balance swung to deficit in January, as imports rose faster than exports, data published by the statistical office Istat showed on Friday.

The trade balance registered a deficit of EUR 5.052 billion in January versus a surplus of EUR 1.584 billion in the same month last year.

Exports rose 22.6 percent annually in January and imports gained 44.5 percent.

On a seasonally adjusted basis, exports rose 5.3 percent monthly in January.

For EU countries, the trade deficit decreased to EUR 890 million in January from EUR 3.800 billion in December. Exports and imports rose by 25.5 percent and 29.0 percent, respectively.

Data also showed that, import prices grew 17.9 percent yearly in January and rose 3.0 percent from a month ago.

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