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Pricing

2022
Flag → Flag
Exports $6.11BRnk 23 / 221
2022
Flag → Flag
Top Product $228MValves
2022
Flag → Flag
Exports $25.1BRnk 5 / 138
2022
Flag → Flag
Top Product $12BPetroleum Gas
2022
Flag
Economic Complexity (ECI) ECI 1.29Rnk 17 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.43Rnk 47 / 133
2022
Flag  
GDP$2.01TCURRENT US$
Rnk 10 / 186
2012-2022
Flag
GDP GROWTH-3.67%CURRENT US$
Rnk 169 / 186
2022
Flag
 GDP$2.24TCURRENT US$
Rnk 8 / 186
2012-2022
Flag
GDP GROWTH1.45%CURRENT US$
Rnk 164 / 186
2022
Flag
GDP PC $34,158CURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP PC GROWTH-2.55%CURRENT US$
Rnk 148 / 186
2022
Flag
GDP PC$15,345CURRENT US$
Rnk 63 / 186
2012-2022
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GDP PC GROWTH-0.49%CURRENT US$
Rnk 145 / 186

About

Italy-Russia Trade: In 2022, Italy exported $6.11B to Russia. The main products that Italy exported to Russia were Valves ($228M), Other Furniture ($183M), and Wine ($181M). Over the past 5 years the exports of Italy to Russia have decreased at an annualized rate of 7.23%, from $8.9B in 2017 to $6.11B in 2022.

In 2020, Italy exported services to Russia worth $621M, with Other business services ($257M), Travel ($187M), and Transportation ($62.4M) being the largest in terms of value.

Russia-Italy Trade: In 2022, Russia exported $25.1B to Italy. The main products that Russia exported to Italy were Petroleum Gas ($12B), Crude Petroleum ($6.33B), and Refined Petroleum ($2.03B). Over the past 5 years the exports of Russia to Italy have increased at an annualized rate of 9.84%,  from $15.7B in 2017 to $25.1B in 2022.

In 2020, Russia exported services to Italy worth $603M, with Other business services ($267M), Transportation ($149M), and Construction services ($111M) being the largest in terms of value.

Comparison: In 2022,  Italy ranked 17 in the Economic Complexity Index (ECI 1.29), and 7 in total exports ($634B). That same year, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B).

Latest Trends

August, 2024

About

Overview In August 2024, Italy exported €265M and imported €315M from Russia, resulting in a negative trade balance of €50.1M. Between August 2023 and August 2024 the exports of Italy have decreased by €-28.3M (-9.66%) from €293M to €265M, while imports increased by €131M (71.4%) from €184M to €315M.

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)€-28.3M(-9.66%)
IMPORT GROWTH (August 2023 - August 2024)€131M(71.4%)

This section shows exports and imports data at subnational level for Italy. Click any date in the line plot or any product to explore the exports or imports behavior of Italy over time.

To check Russia and Italy trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Russia and Italy Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Italy exported $6.11B to Russia. The main products exported from Italy to Russia were Valves ($228M), Other Furniture ($183M), and Wine ($181M). During the last 5 years the exports of Italy to Russia have decreased at an annualized rate of 7.23%, from $8.9B in 2017 to $6.11B in 2022.

In 2017, Russia exported $25.1B to Italy. The main products exported from Russia to Italy were Petroleum Gas ($12B), Crude Petroleum ($6.33B), and Refined Petroleum ($2.03B). During the last 5 years the exports of Russia to Italy have increased at an annualized rate of 9.84%, from $15.7B in 2022 to $25.1B in 2017.

Exports from Italy (Flag) to Russia (Flag) (2022)

Exports from Russia (Flag) to Italy (Flag) (2022)

Market Competitiveness

Color
Italy
Top DestinationGermany$78.5B
Russia
Top DestinationChina$101B

This map shows whether countries import more from Italy or Russia. Each country is colored based on the difference in imports they receive from Italy and Russia or the difference in the growth in imports.

In 2022, countries that imported more from Italy than Russia included United States ($68.2B), Germany ($78.5B), and France ($63.8B).

In 2022, countries that imported more from Russia than Italy included China ($101B), India ($40.4B), and Kazakhstan ($16.5B).

Difference in imports from Russia (Flag) and Italy (Flag) (2022)

Comparative Advantage Italy - Russia

Flow
Scale

This chart compares trade between Italy and Russia by product, considering products traded by both, Italy and Russia.

During 2022, Italy had a large net trade with Russia in the exports of Machines ($2.22B), Textiles ($691M), and Chemical Products ($580M).

During 2017, Russia had a large net trade with Italy in the exports of Mineral Products ($21.3B), Metals ($2.06B), and Precious Metals ($872M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Italy Russia+$208MPackaged Medicaments
Top Product Potential Russia Italy+$2.3BCrude Petroleum

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

In 2020, Italy exported services to Russia worth $621M, with Other business services ($257M), Travel ($187M), and Transportation ($62.4M) being the largest in terms of value.

In 2020, Russia exported services to Italy worth $603M, with Other business services ($267M), Transportation ($149M), and Construction services ($111M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Italy (Flag) to Russia (Flag) (2020)

Services Exports from Russia (Flag) to Italy (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Italy and Russia. This means that a dot/product with the flag of Italy indicates it has a comparative advantage over Russia. Similarly, a dot/product with the flag of Russia indicates it has a comparative advantage over Italy.

Product Space of Italy (Flag) and Russia (Flag) (2022)

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