Italy Trade Surplus Shrinks In May

(RTTNews) - Italy's foreign trade surplus decreased somewhat in May from a year ago as exports fell more than imports, the statistical office ISTAT reported Wednesday.

The trade surplus dropped to EUR 6.16 billion in May from EUR 6.38 billion in the corresponding month last year. In April, the surplus was EUR 2.45 billion.

On an annual basis, exports logged a renewed decline of 1.9 percent versus a 0.5 percent rise in April. Similarly, imports fell 1.7 percent after growing 5.5 percent in the previous month.

The annual decline in exports affects all sectors, except food and pharmaceuticals, which remain very dynamic, and particularly affects the non-EU area, the agency said.

On a seasonally adjusted basis, the trade surplus rose to EUR 4.2 billion in May from EUR 3.4 billion in April. Exports fell 2.3 percent, and imports slid by 4.1 percent.