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Italy's current account surplus rises to €6.55B in October

Italy's current account surplus increased to 6.55 billion in October from the revised 4.27 billion recorded in September and from 4.98 billion in the year-ago period, data provided by the Bank of Italy showed.

Year over year, the current account surplus totaled 48.3 billion, or 2.8% of GDP, compared with 44.6 billion in the corresponding period of 2016.

The increase in the country's annual current account surplus was due to the larger surplus in the primary income balance of 9.6 billion from 2.8 billion in 2016. This increase was only partly tempered by the smaller surplus of the goods balance of 57.6 billion, from 59.8 billion in the prior year.