Italy’s current account surplus shrank to EUR 593.9 million in May 2026 from EUR 1,906.9 million in the same month of the previous year. This marked the smallest surplus since a deficit in January, as the goods surplus declined to EUR 5,224.4 million from EUR 6,171.5 million, while the services balance shifted to a deficit of EUR 118.2 million from a surplus of EUR 173.9 million a year earlier. The primary income deficit also widened to EUR 4,034.4 million from EUR 3,746.7 million. Meanwhile, the secondary income gap narrowed to EUR 477.9 million from EUR 691.8 million.