Italy Feb global trade surplus rises vs year ago

[ROME] Italy posted a trade surplus with the rest of the world of 3.538 billion euros (S$5.11 billion) in February, after a surplus of 2.651 billion euros in the same month of 2014, data showed on Thursday.

Imports rose 1.0 per cent year-on-year in February compared to the same month in 2014, while exports rose by a 3.7 per cent, national statistics office ISTAT said.

With European Union countries, Italy registered a February trade surplus of 691 million euros, compared with a surplus of 1.313 billion euros in February 2014.

Exports to EU nations in February were up 1.1 per cent year-on-year, compared to a rise in imports of 4.9 per cent.

Net of energy products, Italy would have posted a global trade surplus of 9.255 billion euros in February. Italy is heavily dependent on imports for its energy needs.

REUTERS