Italy posted a trade surplus with the rest of the world of 5.614 billion euros ($6.02 billion) in December, compared with a surplus of 685 million euros in the same month of 2022, data showed on Thursday.

Exports fell 7.8% year-on-year and imports fell 17.6%, national statistics office ISTAT reported.

In 2023 Italy recorded an overall trade surplus with the rest of the world of 34.460 billion euros, compared to a deficit of 34.054 billion euros the year before.

With European Union countries, Italy registered a December trade deficit of 2.750 billion euros, compared with a deficit of 3.323 billion euros in 2022.

Exports to EU nations in December were down 8.8% year-on-year, compared to a fall of 9.8% in imports.

Overall last year, Italy posted a trade deficit with EU countries of 14.225 billion euros, compared to a deficit of 8.194 billion euros in 2022. ($1 = 0.9321 euros) (Reporting by Alberto Chiumento)