Italian trade deficit jumps

Italy's trade deficit ballooned in June to 3.058 billion euros from 899 million euros 12 months earlier, the national statistics agency said on Thursday. Exports increased by 22.8 percent compared with June 2009 but imports far outpaced them at 30.4 percent up, ISTAT said.
Over the first six months of the year exports rose 12.6 percent compared with the same period in 2009, while imports rose 18.5 percent. The trade deficit in the period nearly tripled from 4.8 billion euros (6.15 billion dollars) in 2009 to 14.2 billion euros in the first six months of 2010. The trade deficit with other EU countries was 1.994 billion euros in June 2010 and 1.064 billion euros with countries outside the European Union.
Nearly every sector had higher export sales with the notable exception of natural gas, which fell back 42 percent. Export sales of coal and refined petroleum products were up 69.5 percent. Those of metal and related products rose by 38.3 percent, chemical products by 32.4 percent, and agriculture and fisheries by 28.9 percent, ISTAT said. Imports of metal products surged 78.4 percent and of paper goods 72 percent between June 2009 and June 2010.