Lorenzo Macchi
Research expert covering society, economy, and politics for Italy
Imports and exports in Italy - statistics & facts
The excellence of “Made in Italy” products in sectors such as mechanics and shipbuilding, fashion, and food is highly recognized internationally, stimulating demand for Italian products abroad. In 2023, the country recorded a trade surplus of 34 billion euros, meaning that Italy exported more than what imported in the same year. A positive trade balance could foster economic growth, promote employment, and it could signal economic strength. On the contrary, negative balance of trade could generate foreign debt. However, a trade deficit policy could boost fast-growing economies, that need to import more raw materials to sustain their productive system. In recent years, Italy's exports have steadily increased, reaching 731 billion euros in 2023. More than half of Italian products are exported to other EU countries, although new trading partners are quickly emerging, especially in East Asia and the Middle East.
Italy is a mainly export-driven economy, as exports account for one third of the country’s GDP. This can be beneficial for the national economic system as it stimulates industrial production even with low domestic demand. However, heavy reliance on exports could over-expose the country to economic setbacks if buyers cut demand for foreign goods in the face of domestic crises or protectionist policies. Italian exports strongly suffered from the contraction of international trade due to the COVID-19 pandemic and the recent geopolitical tensions across the world. Nevertheless, forecasts suggest a positive scenario. While imports are expected to grow by 1.9 percent in 2025, exports are to increase by two percent, compared to a modest growth of 0.6 percent in 2024, with a trade surplus likely to be achieved.
“Made in Italy” leads Italian exports
The quality of Italian handicraft is well known worldwide and increases the demand for “Made in Italy” products. Italy is the leading exporter of leather and sunglasses worldwide. The food industry plays a crucial role, too. Italy exports the largest share of wine, pasta, and apples globally. As far as imports, products of mining and quarrying are Italy's most demanded goods, shortly ahead of transportation equipment and textiles.Italy is a mainly export-driven economy, as exports account for one third of the country’s GDP. This can be beneficial for the national economic system as it stimulates industrial production even with low domestic demand. However, heavy reliance on exports could over-expose the country to economic setbacks if buyers cut demand for foreign goods in the face of domestic crises or protectionist policies. Italian exports strongly suffered from the contraction of international trade due to the COVID-19 pandemic and the recent geopolitical tensions across the world. Nevertheless, forecasts suggest a positive scenario. While imports are expected to grow by 1.9 percent in 2025, exports are to increase by two percent, compared to a modest growth of 0.6 percent in 2024, with a trade surplus likely to be achieved.
East Asia: new frontier of Italian exports?
Besides a consolidated trading partnership with Germany, new partners outside the European economic space are emerging. The federal republic firmly remains Italy’s main trading partner. Italy purchased goods worth 88 billion euros from Germany in 2023, while exports to Germany were worth 75 billion euros, with a trade deficit of around twelve billion euros. The U.S. is Italy’s second-largest buyer, as it acquired Italian goods worth 67 billion euros in 2023, ahead of France and Spain. However, Italian exports are expanding faster in new markets outside Europe and the U.S. Compared to 2022, exports to China boosted by 17% in 2023, and those to Mexico and UAE increased by around eleven percent. On the contrary, exports to the U.S. only grew by three percent, while decreasing by almost four percent with Germany. Also, China is Italy’s second-largest supplier. While the trading partnership with Germany remains fundamental for the Italian economic policy, the rapidly extending trade with new Asian buyers could open to new investment opportunities and strengthen the global recognition of “Made in Italy” products.Lorenzo Macchi
,
Jan 28, 2025
Lorenzo Macchi
Research expert covering society, economy, and politics for Italy
