Italy Logs Trade Surplus With Non-EU Countries In October

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Italy recorded a trade surplus of EUR 117 million with the non-EU countries in October, in contrast to a deficit of EUR 509 million in September, the statistical office ISTAT said Thursday. Economists expected a much higher surplus of EUR 2.35 billion.

Exports dropped 23.4% year-on-year to EUR 10.9 billion, after a 14.8% fall in the previous month. Exports have been falling continuously since the start of the year. Imports slipped 26.1% to EUR 10.8 billion, slower than a 29.4% drop in the previous month. Imports have been falling since November last year.

Month-on-month, the seasonally adjusted exports dropped 9.1%, while imports climbed 1.2%. In the first ten months of the year, exports dropped an unadjusted 20.1%, while imports fell 28.5%. During this period, the trade deficit stood at EUR 3.56 billion.

(Market News Provided by RTTNews)