Italy posted a trade deficit with the rest of the world of 12 million euros in May, compared with a surplus of 5.633 billion euros in the same month of 2021, data showed on Monday.

Exports rose 29.5% year-on-year and imports increased 48.8%, national statistics office ISTAT reported.

With European Union countries, Italy registered a May trade surplus of 246 million, down from a surplus of 850 million euros in the same month last year.

Exports to EU nations in May were up 32.6% year-on-year, compared to a rise of 36.6% in imports.

(Reporting by Luca Fratangelo, editing by Giulia Segreti)