Italy2019 Economic Complexity: 1.4, Rank 17 of 157
2019 Product Exports | Imports: $525B | $480B, 8 of 225 | 10 of 225
2019 Per Capita Product Exports | Imports: $8.71k | $7.96k, 31 of 219 | 39 of 219
2017 Service Exports | Imports : $101B | $109B, 11 of 139 | 12 of 139
Overview: In 2019 Italy was the number 8 economy in the world in terms of GDP (current US$), the number 8 in total exports, the number 10 in total imports, the number 29 economy in terms of GDP per capita (current US$) and the number 17 most complex economy according to the Economic Complexity Index (ECI)
Exports: The top exports of Italy are Packaged Medicaments ($25B), Cars ($15.4B), Vehicle Parts ($14.3B), Refined Petroleum ($13.9B), and Valves ($8.21B), exporting mostly to Germany ($64.5B), France ($54.9B), United States ($51.8B), United Kingdom ($27.9B), and Spain ($26.7B).
In 2019, Italy was the world's biggest exporter of Other Small Iron Pipes ($3.59B), Tanned Equine and Bovine Hides ($3.06B), Pasta ($3.02B), Processed Tomatoes ($1.86B), and Processed Tobacco ($1.45B)
Imports: The top imports of Italy are Crude Petroleum ($35.1B), Cars ($29.8B), Packaged Medicaments ($17.4B), Petroleum Gas ($15.8B), and Refined Petroleum ($9.11B), importing mostly from Germany ($75.1B), France ($41.2B), China ($34.9B), Spain ($25.5B), and Netherlands ($23.9B).
In 2019, Italy was the world's biggest importer of Hot-Rolled Iron ($3.35B), Electricity ($2.95B), Rolled Tobacco ($2.07B), Pure Olive Oil ($1.49B), Antibiotics ($1.46B)
Location: Italy borders Austria, France, San Marino, Slovenia, and Switzerland by land and Albania, Algeria, Croatia, Greece, Libya, Malta, Montenegro, Spain, and Tunisia by sea.
Top Export (2019): Packaged Medicaments, $25B
Top Destination (2019): Germany, $64.5B
In 2019, Italy exported a total of $525B, making it the number 8 exporter in the world. During the last five reported years the exports of Italy have changed by $5.48B from $520B in 2014 to $525B in 2019.
The most recent exports are led by Packaged Medicaments ($25B), Cars ($15.4B), Vehicle Parts ($14.3B), Refined Petroleum ($13.9B), and Valves ($8.21B). The most common destination for the exports of Italy are Germany ($64.5B), France ($54.9B), United States ($51.8B), United Kingdom ($27.9B), and Spain ($26.7B).
Top Import (2019): Crude Petroleum, $35.1B
Top Origin (2019): Germany, $75.1B
In 2019 Italy imported $480B, making it the number 10 trade destination in the world. During the last five reported years the imports of Italy changed by -$12.7B from $492B in 2014 to $480B in 2019.
The most recent imports of Italy are led by Crude Petroleum ($35.1B), Cars ($29.8B), Packaged Medicaments ($17.4B), Petroleum Gas ($15.8B), and Refined Petroleum ($9.11B). The most common import partners for Italy are Germany ($75.1B), France ($41.2B), China ($34.9B), Spain ($25.5B), and Netherlands ($23.9B).
Fastest Growing Export Markets (2018 - 2019)
Italy Exports Services (2017): $101B
Italy Imports Services (2017): $109B
In 2017, Italy exported $101B worth of services. The top services exported by Italy in 2017 were Travel ($44.2B), Miscellaneous business, professional, and technical services ($21.4B), Transportation ($14.1B), Computer and information services ($9B), and Royalties and license fees ($4.53B).
The top services imported by Italy in 2017 were Travel ($27.5B), Miscellaneous business, professional, and technical services ($25.6B), Transportation ($25.2B), Computer and information services ($10.3B), and Financial services ($9.1B).
The top product import tariffs by their MFN Ad Valorem value for Italy are Sugar beet (178%) and Whey (173%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Italy are:
During the last 20 years Italy's economy has become relatively less complex, moving from the 12th to the 17th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
Italy has a high level of specialization in Vinegar (14.9), Carded Wool or Animal Hair Fabric (14.8), Combed Wool or Animal Hair Fabric (14.5), Vermouth (14.4), and Processed Tomatoes (14.3). Specialization is measured using RCA, an index that takes the ratio between Italy observed and expected exports in each product.
The highest complexity exports of Italy according to the product complexity index (PCI) are Machining centre, single/multistation transfer machine (2.42), Machines nes having individual functions (2.05), Machine-tools for shaping metals, nes (2.03), Measuring or checking instruments nes (1.93), and Machine-tools for non-mechanical removal of material (1.81). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Italy according to the relatedness index, are Agglomerated Cork (0.54), Spring, Air, and Gas Guns (0.54), Insulating Glass (0.53), Electrical Lighting and Signalling Equipment (0.53), and Magnesium (0.53). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Italy is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
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