Connect with us

Hi, what are you looking for?


Italy halves official trade deficit

MILAN, Oct 1 – Italy halved the deficit on non-EU trade in August, official data showed on Thursday as all trade and mainly imports plunged amid deep recession in the economy here.

And the deficit so far this year also showed a big reduction.

Italy depends heavily on exports by its diversified manufacturing sector.

The data from the statistics office Istat showed that in August a deficit on the trade balance fell to 969 million euros (1.4 billion dollars) in August from 2.091 billion euros in July.

However, the reduction reflected a 30-percent slump in imports. Exports fell by 25.2 percent.

In the first eight months of the year, the trade balance with countries outside the European Union showed a cumulative deficit of 3.166 billion euros, one fifth of the figure of 16.484 billion euros for the same period last year.

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...