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2023
Flag → Flag
Exports $9.89BRnk 9 / 220
2023
Flag → Flag
Top Product $1.19BRefined Petroleum
2023
Flag → Flag
Exports $6.55BRnk 21 / 219
2023
Flag → Flag
Top Product $643MPassenger and Cargo Ships
2023
Flag
Economic Complexity (ECI) ECI 0.65Rnk 39 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.29Rnk 18 / 132
2023
Flag  
GDP$3.57TCURRENT US$
Rnk 5 / 195
2013-2023
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GDP GROWTH92.1%CURRENT US$
Rnk 19 / 195
2023
Flag
 GDP$2.3TCURRENT US$
Rnk 8 / 195
2013-2023
Flag
GDP GROWTH6.86%CURRENT US$
Rnk 165 / 195
2023
Flag
GDP PC $2,481CURRENT US$
Rnk 148 / 195
2013-2023
Flag
GDP PC GROWTH73.1%CURRENT US$
Rnk 22 / 195
2023
Flag
GDP PC$39,003CURRENT US$
Rnk 32 / 196
2013-2023
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GDP PC GROWTH9.11%CURRENT US$
Rnk 136 / 195

About

India-Italy Trade: In 2023, India exported $9.89B to Italy. The main products that India exported to Italy were Refined Petroleum ($1.19B), Broadcasting Equipment ($771M), and Hot-Rolled Iron ($618M). Over the past 5 years the exports of India to Italy have increased at an annualized rate of 8.42%, from $6.6B in 2018 to $9.89B in 2023.

In 2023, India did not export any services to Italy.

Italy-India Trade: In 2023, Italy exported $6.55B to India. The main products that Italy exported to India were Passenger and Cargo Ships ($643M), Washing and Bottling Machines ($171M), and Machinery Having Individual Functions ($168M). Over the past 5 years the exports of Italy to India have increased at an annualized rate of 4.52%,  from $5.25B in 2018 to $6.55B in 2023.

In 2020, Italy exported services to India worth $358M, with Other business services ($115M), Royalties and license fees ($70M), and Travel ($54.6M) being the largest in terms of value.

Comparison: In 2023,  India ranked 39 in the Economic Complexity Index (ECI 0.65), and 12 in total exports ($441B). That same year, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Latest Trends

November, 2024

About

Overview In November 2024, India exported $675M and imported $461M from Italy, resulting in a positive trade balance of $214M. Between November 2023 and November 2024 the exports of India have increased by $173M (34.5%) from $502M to $675M, while imports decreased by $-27.3M (-5.58%) from $488M to $461M.

Trade In November 2024, the top exports of India to Italy were Iron And Steel ($127M), Aluminium, Products Of Aluminm ($62.7M), Telecom Instruments ($59.4M), Rmg Cotton Incl Accessories ($32.5M), and Products Of Iron And Steel ($25M). In November 2024 the top imports of India from Italy were Indl. Machnry For Dairy Etc ($115M), Residul Chemicl And Alled Prod ($30M), Other Misc. Engineering Items ($21M), Machine Tools ($17.3M), and Paper, Paper Board And Product ($16.3M).

Growth In November 2024, the increase in India's year-by-year exports to Italy was explained primarily by an increase in product exports in Aluminium, Products Of Aluminm ($47.3M or 306%), Telecom Instruments ($31.4M or 112%), and Pearl, Precs, Semiprecs Stones ($11M or 113%). In November 2024, the decrease in India's year-by-year imports  from Italy was explained primarily by an decrease in product imports  in Fresh Fruits ($-6.25M or -67.8%), Atm, Injctng Mlding Mchnry Etc ($-4.66M or -41.1%), and Bulk Drugs, Drug Intermediates ($-4.02M or -49.4%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (November 2023 - November 2024)$173M(34.5%)
IMPORT GROWTH (November 2023 - November 2024)$-27.3M(-5.58%)

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

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

For full datasets download visit Bulk Download page.

Explore Italy and India Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, India exported $9.89B to Italy. The main products exported from India to Italy were Refined Petroleum ($1.19B), Broadcasting Equipment ($771M), and Hot-Rolled Iron ($618M). During the last 5 years the exports of India to Italy have increased at an annualized rate of 8.42%, from $6.6B in 2018 to $9.89B in 2023.

In 2018, Italy exported $6.55B to India. The main products exported from Italy to India were Passenger and Cargo Ships ($643M), Washing and Bottling Machines ($171M), and Machinery Having Individual Functions ($168M). During the last 5 years the exports of Italy to India have increased at an annualized rate of 4.52%, from $5.25B in 2023 to $6.55B in 2018.

Exports from India (Flag) to Italy (Flag) (2023)

Exports from Italy (Flag) to India (Flag) (2023)

Market Competitiveness

Color
India
Top DestinationUnited States$85.5B
Italy
Top DestinationGermany$71.4B

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

In 2023, countries that imported more from India than Italy included United Arab Emirates ($28.8B), United States ($85.5B), and Bangladesh ($11.3B).

In 2023, countries that imported more from Italy than India included Germany ($71.4B), France ($61.1B), and Switzerland ($29.3B).

Difference in imports from Italy (Flag) and India (Flag) (2023)

Comparative Advantage India - Italy

Flow
Scale

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

During 2023, India had a large net trade with Italy in the exports of Metals ($2.73B), Machines ($1.9B), and Mineral Products ($1.28B).

During 2018, Italy had a large net trade with India in the exports of Machines ($2.69B), Chemical Products ($886M), and Transportation ($875M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential India Italy+$748MRefined Petroleum
Top Product Potential Italy India+$129MMotor vehicles; parts and accessories (8701 to 8705)

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 India worth $358M, with Other business services ($115M), Royalties and license fees ($70M), and Travel ($54.6M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of India (Flag) and Italy (Flag) (2023)

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