United Kingdom (GBR) and Italy (ITA) Trade

2022

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Exports $9.78BRnk 10 / 224

2022

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About

United Kingdom-Italy Trade: In 2022, United Kingdom exported $9.78B to Italy. The main products that United Kingdom exported to Italy were Cars ($1.08B), Gas Turbines ($545M), and Crude Petroleum ($519M). Over the past 5 years the exports of United Kingdom to Italy have decreased at an annualized rate of 5.37%, from $12.9B in 2017 to $9.78B in 2022.

In 2019, United Kingdom exported services to Italy worth $12.2B, with Travel ($5.54B), Other business services ($1.96B), and Transportation ($1.71B) being the largest in terms of value.

Italy-United Kingdom Trade: In 2022, Italy exported $28.5B to United Kingdom. The main products that Italy exported to United Kingdom were Packaged Medicaments ($2.11B), Motor vehicles; parts and accessories (8701 to 8705) ($962M), and Wine ($895M). Over the past 5 years the exports of Italy to United Kingdom have increased at an annualized rate of 2.09%, from $25.7B in 2017 to $28.5B in 2022.

In 2020, Italy exported services to United Kingdom worth $5.67B, with Other business services ($1.68B), Travel ($1.62B), and Communications services ($720M) being the largest in terms of value.

Comparison: In 2022, United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.42), and 14 in total exports ($469B). That same year, Italy ranked 17 in the Economic Complexity Index (ECI 1.29), and 7 in total exports ($634B).

Latest Trends

August, 2024

About

Overview In August 2024, United Kingdom exported £553M and imported £1.48B from Italy, resulting in a negative trade balance of £923M. Between August 2023 and August 2024 the exports of United Kingdom have decreased by £-117M (-17.5%) from £670M to £553M, while imports decreased by £-112M (-7.06%) from £1.59B to £1.48B.

Trade In August 2024, the top exports of United Kingdom to Italy were Cars (£108M), Crude Petroleum (£83.6M), Gas Turbines (£56.1M), Precious Metal Scraps (£25.5M), and Silver (£24.9M). In August 2024 the top imports of United Kingdom from Italy were Cars (£65.8M), Packaged Medicaments (£65.1M), Motor vehicles; parts and accessories (8701... (£56.4M), Wine (£43.9M), and Gas Turbines (£42.1M).

Origins In August 2024 the exports of United Kingdom were mainly from Dover Eurotunnel (£217M), Avonmouth (£57.2M), London Heathrow Airport (£46.2M), Lerwick (£37M), and East Midlands Airport (£35.5M), while imports destinations were mainly Dover (£437M), Eurotunnel (£171M), London (£119M), Dover Eurotunnel (£104M), and London Gateway (£79.3M).

Growth In August 2024, the decrease in United Kingdom's year-by-year exports to Italy was explained primarily by an decrease in product exports in Precious Metal Compounds (£-3.96M or -74.6%), Platinum (£-3.7M or -13.3%), and Hot-Rolled Iron Bars (£-3.66M or -66.7%). In August 2024, the decrease in United Kingdom's year-by-year imports from Italy was explained primarily by an decrease in product imports in Vaccines, blood, antisera, toxins and cultures (£-37M or -88.2%), Nitrogen Heterocyclic Compounds (£-24M or -67.7%), and Industrial Fatty Acids, Oils and Alcohols (£-8.96M or -95.2%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (August 2023 - August 2024)£-117M(-17.5%)

IMPORT GROWTH (August 2023 - August 2024)£-112M(-7.06%)

MAIN EXPORTER (August 2024)Dover Eurotunnel£217M

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

To check Italy and United Kingdom trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, United Kingdom exported $9.78B to Italy. The main products exported from United Kingdom to Italy were Cars ($1.08B), Gas Turbines ($545M), and Crude Petroleum ($519M). During the last 5 years the exports of United Kingdom to Italy have decreased at an annualized rate of 5.37%, from $12.9B in 2017 to $9.78B in 2022.

In 2017, Italy exported $28.5B to United Kingdom. The main products exported from Italy to United Kingdom were Packaged Medicaments ($2.11B), Motor vehicles; parts and accessories (8701 to 8705) ($962M), and Wine ($895M). During the last 5 years the exports of Italy to United Kingdom have increased at an annualized rate of 2.09%, from $25.7B in 2022 to $28.5B in 2017.

Exports from United Kingdom () to Italy () (2022)

Exports from Italy () to United Kingdom () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United Kingdom
Top DestinationUnited States$61.8B

Italy
Top DestinationGermany$78.5B

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

In 2022, countries that imported more from United Kingdom than Italy included Ireland ($32.6B), Netherlands ($41.9B), and China ($35.4B).

In 2022, countries that imported more from Italy than United Kingdom included Germany ($78.5B), France ($63.8B), and Spain ($32.8B).

Difference in imports from Italy () and United Kingdom () (2022)

Comparative Advantage United Kingdom - Italy

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, United Kingdom had a large net trade with Italy in the exports of Machines ($2.41B), Transportation ($1.86B), and Metals ($855M).

During 2017, Italy had a large net trade with United Kingdom in the exports of Machines ($5.95B), Chemical Products ($3.67B), and Transportation ($3.58B).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential United Kingdom Italy+$473MCars

Top Product Potential Italy United Kingdom+$486MCars

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

Ita Year

Gbr Year

In 2019, United Kingdom exported services to Italy worth $12.2B, with Travel ($5.54B), Other business services ($1.96B), and Transportation ($1.71B) being the largest in terms of value.

In 2020, Italy exported services to United Kingdom worth $5.67B, with Other business services ($1.68B), Travel ($1.62B), and Communications services ($720M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United Kingdom () to Italy () (2019)

Services Exports from Italy () to United Kingdom () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of United Kingdom () and Italy () (2022)

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