Rome, Aug. 12, (dpa-AFX/GNA) - Italy’s foreign trade balance turned to a deficit in June from a surplus in the previous year, as imports grew more rapidly than exports, data published by the statistical office Istat showed on Friday.
The trade balance in June was a shortfall of €2.166 billion ($2.229 billion) against a surplus of €5.673 billion in the corresponding month last year. In May, there was a deficit of €62 million.
Exports were 21.2% higher in June compared to last year, while imports grew at a much faster pace of 44.2%.
Outgoing flows to EU countries increased by 21.2% and those to non-EU countries gained by 21.1%.
On a monthly basis, exports fell 2.1% in June, while imports logged an increase of 1.8%.
Data also showed that import prices climbed 21.5% annually and by 1.8% monthly in June.
GNA