Italy's current account surplus increased significantly from last year in July on a marked improvement in merchandise trade, data from the central bank showed Friday.
The current account surplus jumped to EUR1.59 billion in July from EUR244 million in the same month a year earlier.
The goods trade account showed a surplus of EUR3.59 billion during the month, notably higher than the EUR2.17 billion surplus seen last year. The services surplus, meanwhile, dropped to EUR552 million from EUR603 million in July 2011.
The balance in the income account was a deficit of EUR867 million in July, up from last year's EUR805 million deficit. The shortfall in the current transfers account narrowed to EUR1.68 billion from EUR1.72 billion a year earlier, data showed.
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org