Italy’s foreign trade surplus decreased in August from a year ago, figures from the Bank of Italy showed Tuesday.
The current account surplus shrank to EUR 1.389 billion in August from EUR 1.528 billion in the corresponding month last year. In July, the surplus was EUR 6.88 billion.
The goods trade surplus fell to EUR 2.53 billion in August from EUR 2.67 billion a year earlier. At the same time, services trade balance turned to a surplus of EUR 194 million from a deficit of EUR 3 million.
The capital account balance showed deficit of EUR 59 million in August versus a surplus of EUR 157 million in the same month of the prior year. Meanwhile, financial account surplus rose to EUR 4.42 billion from EUR 4.09 billion.
During the twelve months ended August, the current account recorded a surplus of EUR 32.6 billion, up from EUR 24.09 billion surplus in the previous twelve months.
The positive trend, started in mid-2011, has slowed down in the current year due to the recovery of imports driven by the improvement in the cyclical outlook, the bank said.
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