India, March 18 -- Italy's foreign trade balance turned to a deficit in January from a surplus in the previous year as imports grew much faster than exports, data from the statistical office Istat showed on Tuesday.
The trade balance for January was a shortfall of EUR 264 million versus a EUR 2.5 billion surplus in the corresponding month last year.
In December, there was a surplus of EUR 5.8 billion.
Exports rose 2.5 percent annually in January after a 2.9 percent growth in December.
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Data showed that imports surged 8.8 percent annually in January, following a 2.1 percent gain in the prior month. Imports from EU countries increased 2.2 percent, while t...