Italy’s Current Account Surplus Rises In August

Italy’s current account surplus increased in August from the previous year, the Bank of Italy reported Friday.

The current account surplus rose to EUR 3.68 billion from EUR 3.39 billion in the previous year.

The trade in goods showed a surplus of EUR 3.58 billion compared to EUR 3.27 billion last year. Meanwhile, the surplus on services fell to EUR 378 million from EUR 524 million.

At the same time, primary income rose to EUR 1.36 billion from EUR 995 million a year ago. The deficit on secondary income widened to EUR 1.64 billion from EUR 1.39 billion.

The capital account showed a shortfall of EUR 143 million versus EUR 220 million in the previous year, data showed.

In the twelve months to August, the current account surplus totaled EUR 46.3 billion, equivalent to 2.7 percent of GDP, compared to EUR 41.3 billion in the corresponding period of 2016.
Source: RTT News