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Italy Non-EU Trade Balance Turns To Surplus In March

4/23/2012 6:10 AM ET

The balance from Italy's merchandise trade with countries outside the European Union (EU) turned to a surplus in March from a deficit last year, preliminary data released by statistical office Istat showed Monday.

The non-EU trade balance was a surplus of EUR495 million, compared to the EUR3.06 billion deficit recorded in the same month last year.

Exports to countries outside the European Union increased 12.3 percent on an annual basis in March. Compared to February, the value of shipments advanced a seasonally adjusted 4 percent during the month.

The value of imports decreased 10.2 percent year-on-year during the month. On a monthly basis, there was a 1.5 percent decrease in total arrivals.

In the January-March period, Italy's balance from non-EU trade was a deficit of EUR6.16 billion, sharply lower than the EUR10.99 billion deficit recorded in the same period last year. Exports increased 10 percent annually during the period, while imports dropped 2.2 percent.

by RTT Staff Writer

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