Italy reports increase in trade deficit
Italy's statistics office ISTAT disclosed that the country's trade deficit rose from €889 million in February 2004 to €1.39 billion in February 2005. Exports rose 3% year on year to €21.88 billion in February while imports increased 5.2% to €23.27 billion. The trade deficit rose from €3.29 billion in the first two months of 2004 to €3.69 billion in the first two months of 2005. Exports amounted to €40.67 billion during January-February 2005 period, up 6.8% year on year while imports totaled €44.37 billion, an increase of 7.2%.