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Italy's current account surplus increased in May from previous year, data from Bank of Italy showed on Friday.

The current account surplus rose to EUR 2.59 billion from EUR 1.86 billion in the same period last year.

The surplus on trade in goods climbed to 4.9 billion from EUR 3.9 billion in the previous year. Meanwhile, the surplus on services decreased to EUR 123 million from EUR 148 million.

The deficit on primary income widened to EUR 1.96 billion from EUR 1.53 billion. However, the shortfall on secondary income decreased to EUR 493 million from EUR 715 million.

In the twelve months ending in May, the current account surplus totaled EUR 45.9 billion or 2.6 percent of GDP, compared to EUR 45.1 billion in the corresponding period of 2018.