Italy Current Account Deficit Narrows In January

Italy Current Account Deficit Narrows In January

21 March 2016, 12:00
Roberto Jacobs
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Italy Current Account Deficit Narrows In January

Italy's current account deficit decreased slightly in January from a year ago, figures from the Bank of Italy showed Monday.

The current account deficit narrowed to EUR 1.07 billion in January from EUR 1.79 billion in the corresponding month last year. In December, the current account balance showed surplus of EUR 6.3 billion.

The goods trade surplus grew notably to EUR 1.04 billion in January from EUR 742 million a year earlier. The deficit on services trade fell to EUR 651 million from EUR 720 million.

At the same time, the capital account deficit widened to EUR 23 million from EUR 6.0 million. The financial account balance turned to a surplus EUR 1.73 billion from a deficit of EUR 4.5 billion.

In the twelve months to January, the current account balance recorded a surplus of EUR 35.8 billion, up from EUR 30.5 billion in the same period of 2015.

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