Italy's Current Account Surplus Rises In November

Italy’s current account surplus increased notably in November from last year, data released by the Bank of Italy revealed Wednesday.

The current account showed a surplus of EUR2.83 billion in November, which was higher than the EUR1.46 billion surplus seen in the same month of last year.

Driving the improvement of the balance, the surplus of merchandise trade climbed to EUR3.56 billion from EUR2.88 billion a year earlier. The balance of services was a deficit of EUR407 million, lower than the EUR601 million surplus recorded last year.

The current transfers shortfall eased to EUR184 million from EUR212 million, and the income deficit narrowed to EUR144 million from EUR602 million.

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