Italy Current Account Deficit Widens In January

(RTTNews) - Italy's current account deficit increased in January from the previous year, the Bank of Italy reported Friday.

The current account gap rose to EUR 3.81 billion from EUR 1.68 billion last year.

The good surplus shrank to EUR 1.0 billion from EUR 3.4 billion. At the same time, the shortfall in services trade widened to EUR 1.5 billion from EUR 1.3 billion.

Meanwhile, the primary income balance showed a deficit of EUR 223 million, down from EUR 1.5 billion. The shortfall on secondary income increased to EUR 3.1 billion from EUR 2.1 billion.

The capital account balance turned to a surplus of EUR 102 million in January from a deficit of EUR 126 million in the previous year. At the same time, the financial account deficit rose to EUR 2.1 billion from EUR 0.5 billion in January 2024.

In the twelve months ending in January, the current account surplus came in at EUR 28.0 billion, equivalent to 1.3 percent of GDP, compared to a surplus of EUR 3.5 billion in the corresponding period of 2024.