Italy’s current account surplus in May increased markedly from the previous year, figures from the Bank of Italy showed Monday.
The current account surplus rose notably to EUR 2.6 billion in May from EUR 843 million in the corresponding month last year. In April, the surplus was EUR 5.14 billion.
The goods trade surplus increased to EUR 5.19 billion in May from EUR 4.17 billion a year earlier. Surplus in services trade also climbed to EUR 476 million from EUR 387 million.
The capital account deficit widened to EUR 114 million from only EUR 4 million in the same month of the prior year. Meanwhile, the financial account deficit narrowed significantly to EUR 478 million from EUR 4.1 billion.
During the twelve months ended May, the current account recorded a surplus of EUR 36.1 billion, up from EUR 21.6 billion surplus in the previous twelve months.
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