RTTNews - Italy's trade balance was a surplus of EUR 1.18 billion in May after posting a revised trade deficit of EUR 248 million in April, the statistical office Istat said Thursday. A year ago, the trade balance was a deficit of EUR 84 million.

Exports in May fell 27% year-on-year to EUR 24.13 billion and imports slumped 30.8% to EUR 22.94 billion. In April, exports were down 28.6%, while imports dropped 30%.

Italy's trade balance with EU countries was a surplus of EUR 631 million in May versus EUR 1.68 billion surplus in the previous year. However, it was an improvement from EUR 193 million deficit recorded in April.

Exports to EU plunged 31.7% annually, while imports from those countries dropped 28.9%.

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