(RTTNews) - Italy’s trade deficit increased to EUR837 million in February from a EUR449 million deficit in the previous year, the country’s statistical office ISTAT said Tuesday.

Exports dropped 25.3% year-on-year to EUR23.5 billion, while imports slipped 23.7% to EUR24.3 billion.

In the January to February period, the trade deficit amounted to EUR4.4 billion. Exports were down 25.5%, while imports fell 23.8% from the same period in the previous year.

In February, Italy recorded a trade deficit of EUR105 million with the EU countries, reversing the surplus of EUR864 million last year.

Exports fell 27.5% annually to EUR13.4 billion, while imports declined 23.4% to EUR13.5 billion.

In the January-February period, the trade surplus stood at EUR276 million. Exports dipped 25.4% and imports declined 23.8% from last year.

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