Italy Trade Surplus Remains Steady In March

(RTTNews) - Italy's foreign trade surplus stayed unchanged at the end of the first quarter, the statistical office ISTAT reported Monday.

The trade balance showed a surplus of EUR 4.71 billion in March, the same as in the corresponding month last year. The surplus decreased from EUR 4.98 billion in February. The expected surplus was EUR 5.2 billion.

Exports climbed 7.4 percent annually in March, and imports were 8.0 percent higher. The overall yearly export growth was more than half attributable to increased metal sales, particularly to Switzerland and France, while import growth was primarily due to more purchases of metals, motor vehicles, and electronics.

Exports to EU countries grew 9.6 percent, and those to non-EU nations advanced 5.1 percent.

The seasonally adjusted trade surplus decreased to EUR 4.9 billion in March from EUR 5.1 billion in February. Both exports and imports increased by 4.1 percent and 4.8 percent, respectively, compared to the prior month.