Italy's current account deficit narrowed sharply in March, the Bank of Italy said Monday. The deficit in current account fell to EUR 2.38 billion from EUR 7.26 billion in March 2011.
The trade in goods resulted in a surplus of EUR 1.5 billion compared to a EUR 3.01 billion deficit a year ago. Further, the deficit in services decreased to EUR 994 million from EUR 1.09 billion.
Likewise, the deficit in income narrowed to EUR 467 million from EUR 675 million in the previous year. The current transfers deficit totaled EUR 2.42 billion compared to a EUR 2.48 billion shortfall logged during the same period of prior year.
by RTT Staff Writer
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