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Italy trade surplus narrows in March

Italy's seasonally adjusted trade surplus contracted to 3.94 billion in March from a revised 4.1 billion in February as growth in imports outpaced that in exports, according to National Institute for Statistics data.

Exports rose 1.2% to 38.21 billion in March, while imports increased 1.9% to 34.28 billion.

Exports to EU countries slipped 1.4% to 21.3 billion, while imports rose 1.7% to 20.6 billion, yielding a trade surplus of 700 million.

Exports to non-EU countries rose 4.6%, while imports edged up 2.1%, resulting in a surplus of €3.24 billion.

For the three months to March, exports and imports both fell by 1.9% compared with the prior three months.