Italy's current account shortfall decreased significantly from last year in May, helped mainly by a marked increase in merchandise exports, data released by Bank of Italy showed Wednesday.
The current account deficit fell to EUR1.199 billion in May from EUR5.458 billion in the same month last year.
The goods trade account showed a surplus of EUR2.188 billion in May, reversing the EUR1.433 billion deficit recorded a year earlier.
The balance in the services account was a deficit of EUR175 million, down from last year's shortfall of EUR253 million. The deficit in the income account narrowed to EUR2.592 billion in May from EUR3.050 billion in May 2011.
The current transfers account showed a deficit of EUR620 million during the month, which was lower than last year's shortfall of EUR723 million, data showed.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.