Italy recorded a trade deficit of EUR0.72 billion with the non-EU countries in February, lower than a deficit of EUR1.31 billion recorded in the previous year, a report by the country's statistical agency ISTAT said Thursday.

Exports declined 21.9% annually to EUR10.07 billion in February, while imports dropped 24% to EUR10.79 billion.

Month-on-month, exports rose 8%, while imports fell 3.6% in February.

In the January to February period, the trade deficit stood at EUR4.71 billion, narrowing from a deficit of EUR5.65 billion in the same period last year. Exports declined 25.6% in this period, and imports fell 23.9%.

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