Italy’s trade deficit narrowed in July from the prior month driven by a rebound in exports, the statistical office Istat said Friday.
Exports increased 4.1 percent on month, reversing June’s 1.9 percent decrease. Meanwhile, growth in imports accelerated to 3.4 percent from 2.6 percent.
As a result, the trade deficit narrowed to a seasonally adjusted EUR 3.8 billion from EUR 4.05 billion in June.
On an unadjusted basis, exports growth eased to 18.0 percent from 21.6 percent and the annual increase imports came in at 44.0 percent versus 45.6 percent in the previous month.
The trade balance showed a shortfall of EUR 361 million in July compared to a surplus of EUR 8.57 billion in the same month last year.
The trade with EU27 countries resulted in a surplus of EUR 329 million in July. Exports gained seasonally adjusted 2.6 percent on month and imports were up 1.6 percent.
At the same time, exports to non-EU countries moved up 5.7 percent on month and imports from those nations gained 5.0 percent. The trade deficit with EU countries totaled EUR 4.13 billion.
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