MILAN: Recession-hit Italy reported Thursday a trade surplus in May of 306 million euros ($388 million) with countries outside the European Union from a deficit of 1.88 billion euros a year before.
Exports to non-European Union countries rose by 14.1 percent from a year ago, boosted by energy exports which rose by 35.4 percent, the National Institute of Statistics (ISTAT) said.
Imports contracted by a slight 0.9 percent over the period.
Istat presents non-EU trade figures ahead of total trade figures, with the overall results for May set to be released on July 16.
In the January-May period this year, exports to non-EU countries increased by 9.3 percent and imports decreased by 3.1 percent compared with the same period of 2011.
Last week, Italy reported a big cut in its trade deficit for April to 202 million euros ($255 billion) from 2.824 billion euros in April of last year as imports to the recession-hit country fell.
A country's trade balance is an important contributor to, or handicap for, growth.
A surplus boosts gross domestic product but a deficit is a drag. The latest Italian data indicated that the improvement reflected recessionary tendencies in the Italian economy.
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