Italy's Trade Balance Swings To Surplus In July

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Italy's total trade balance turned to a surplus of EUR 4.10 billion in July from a deficit of EUR 639 million in June, the statistical office Istat said Thursday.

Exports dropped 20.6% year-on-year, extending the fall that started in October last year. In June, exports were down 20.7%.

Similarly, imports fell for the ninth straight month in July. It declined 27.6% year-on-year after a 21.3% fall in June.

Italy's trade with EU countries resulted in a surplus of EUR 2.39 billion, a reversal from the EUR 788 million deficit recorded in June. Exports decreased 23.1% annually and imports plummeted 20.6%.

Italy's total trade balance turned to a surplus of EUR 4.10 billion in July from a deficit of EUR 639 million in June, the statistical office Istat said Thursday. (Market News Provided by RTTNews)