Italy's current account turned to a surplus in the month of April, helped mainly by strong improvement in foreign trade, data released by the Bank of Italy showed Thursday.
The current account showed a surplus of EUR854 million in April, compared to a deficit of EUR1.28 billion in the same month last year.
The surplus in the merchandise trade account climbed to EUR2.489 billion from EUR405 million in April 2012. The balance in the services account was a surplus of EUR262 million, which marked an improvement from last year's EUR29 million shortfall.
The income account showed a wider deficit of EUR1.01 billion than the EUR495 million shortfall recorded last year. The deficit in the current transfers account dropped markedly to EUR883 million from EUR1.16 billion.
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