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Italy Trade Surplus Rises In May

Italy’s trade surplus increased in May, as imports decreased faster than exports, data from the statistical office Istat showed on Thursday.

The trade surplus increased to EUR 5.58 billion in May from EUR 5.38 billion in the same period last year. In April, the trade deficit was EUR 1.13 billion.

Exports decreased 30.4 percent year-on-year in May, following a 41.5 percent fall in April.

On an annual basis, imports fell 35.2 percent in May, following a 33.7 percent decrease in the preceding month.

On a seasonally adjusted basis, exports rose 35.0 percent and imports increased 5.6 percent monthly.

Separate data from the statistical office showed that the construction output fell a calendar adjusted 16.8 percent yearly in May, following a 68.9 percent decline in April.

On an unadjusted basis, construction output declined 22.3 percent in May, following a 67.9 percent decrease in the preceding month.

However, the construction output surged a seasonally adjusted 168.0 percent in May, after a 53.0 percent fall in the previous month.

The material has been provided by InstaForex Company – www.instaforex.com