2022.05.1713:41:00UTC+00Italy Trade Balance Swings To Deficit In March

Italy's foreign trade balance in March logged a deficit versus a surplus a year ago, as imports grew much faster than exports, data published by the statistical office Istat showed on Monday.

The trade balance showed a deficit of EUR 84.0 million in March against a surplus of EUR 5.19 billion in the corresponding month last year. In February, the deficit was EUR 1.77 billion.

Exports rose 22.9 percent year-on-year in March and imports surged 38.8 percent.

Outgoing flows to EU countries increased 23.5 percent and those to non-EU countries grew 22.2 percent.

On a monthly basis, both exports and imports rose a seasonally adjusted 1.7 percent and 1.3 percent, respectively, in March.

As compared to the previous quarter, exports logged a growth of 7.7 percent in the first quarter and imports gained 9.8 percent.

Data also showed that import prices climbed 19.0 percent annually and 2.5 percent monthly in March.