Forex Notes

Italy's Trade Deficit Continues To Decline Due To Falling Oil Prices

Italy's trade deficit amounted to 123 million euros in December Against -415 million in December 2008, as shown today data.

Italy's trade deficit with EU countries amounted to 1.396 billion from -350 million in December 2008, according to ISTAT.

In December, exports and imports reflected the decline in annualized - A sign that demand for both external and internal left weak.

In December, total exports decreased by 1,9% against the same period last year, nominally. Imports decreased by 3.0%.

Exports to EU countries rose by 1,4% y / y, import - by 9,1%.

For the entire 2009 trade deficit of Italy has reached 4.109 billion euro against -11.478 billion in 2008 due to reduced cost of oil imports.

With the exception of trade in goods and energy sectors, mainly oil and natural gas, trade surplus Italy amounted to 36.7 billion in 2009 against +49.9 billion in 2008.