Italy’s current account deficit decreased in November from the previous year, the Bank of Italy reported Tuesday.
The current account gap narrowed to EUR 1.3 billion from EUR 2.2 billion last year.
The goods surplus rose to EUR 4.7 billion from EUR 3.4 billion. At the same time, the shortfall in services trade narrowed somewhat to EUR 2.18 billion from EUR 2.21 billion.
The primary income balance showed a deficit of EUR 3.0 billion, up from EUR 2.7 billion. The shortfall on secondary income increased to EUR 807 million from EUR 626 million.
The capital account balance showed a surplus of EUR 510 million in November versus EUR 376 million in the previous year. At the same time, the financial account turned to a shortfall of EUR 9.5 billion from a EUR 6.4 billion surplus in November 2024.
In the twelve months ending in November, the current account surplus came in at EUR 27.0 billion, equivalent to 1.2 percent of GDP, compared to a surplus of EUR 23.8 billion in the corresponding period of 2024.
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