China, U.S. Exports Help Double Italy Trade Surplus

Italy's trade surplus has doubled in 12 months thanks to a rise in exports, particularly to China and the United States, new data showed on Monday as the economy prepares to end its longest post-war recession.

Exports to countries outside the European Union went up 1.5 percent from October 2012 to October 2013, while imports fell by 8.0 percent over the same period, preliminary data from the official Istat agency showed.

The surplus reached 2.9 billion euros ($3.9 billion) in October, compared to 1.4 billion euros in October 2012.

Exports were up 0.8 percent from September 2013, with energy and consumer goods performing particularly well.

Business daily Il Sole 24 Ore said the data showed the economy was "gradually moving forwards", adding that exports outside the EU had helped Italian companies overcome "Europe's persistent weakness".