The Italian statistical office Istat released its trade data for Italy on Thursday. Italy' trade surplus narrowed to €0.04 billion in January from €6.00 billion in December. December's figure was revised down €6.02 billion.

Exports dropped 3.5% year-on-year in January, while imports decreased 3.2%.

On a monthly basis, exports fell a seasonally-adjusted 2.2% in January, while imports were down 0.6%.

The seasonally-adjusted trade surplus with the EU was €1.03 billion in January, while the trade surplus with non-EU countries was €2.83 billion.