Italian Trade Deficit Narrows

Italy reported a trade deficit of EUR4.35 billion in January, according to national statistics institute Istat. Italy's unadjusted trade deficit came in at EUR6.3 billion in January 2011. On a seasonally-adjusted basis, Italy's trade deficit came in at EUR199 million, versus a deficit of EUR2.7 billion in the year-ago month. Italy's exports dropped 2.5% in December, while imports declined 0.5%