United States (USA) and Italy (ITA) Trade

2023

→

Exports $26.5BRnk 18 / 220

2023

→

About

United States-Italy Trade: In 2023, United States exported $26.5B to Italy. The main products that United States exported to Italy were Crude Petroleum ($4.76B), Hormones ($3.03B), and Petroleum Gas ($2.63B). Over the past 5 years the exports of United States to Italy have increased at an annualized rate of 7.64%, from $18.3B in 2018 to $26.5B in 2023.

In 2017, United States exported services to Italy worth $8.98B, with Travel ($2.74B), Financial services ($1.7B), and Transportation ($1.17B) being the largest in terms of value.

Italy-United States Trade: In 2023, Italy exported $70.9B to United States. The main products that Italy exported to United States were Packaged Medicaments ($5.47B), Cars ($5.09B), and Vaccines, blood, antisera, toxins and cultures ($2.23B). Over the past 5 years the exports of Italy to United States have increased at an annualized rate of 6.19%, from $52.5B in 2018 to $70.9B in 2023.

In 2020, Italy exported services to United States worth $5.27B, with Other business services ($2.33B), Travel ($871M), and Computer and information services ($519M) being the largest in terms of value.

Comparison: In 2023, United States ranked 10 in the Economic Complexity Index (ECI 1.5), and 2 in total exports ($1.86T). That same year, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Company data: In 2023, leading companies such as CNH Industrial (4.79k), IKEA Group (2.86k), and Valbruna Stainless (2.05k) were at the forefront of exporting goods from Italy to the United States. Conversely, Other (7.06k), Cnh Industrial Italia S.p.a. (2.65k), and Acciaierie Valbruna S.p.a. (1.56k) were notable for importing products to Italy from the United States.

Latest Trends

November, 2024

About

Overview In November 2024, United States exported $3.48B and imported $6.53B from Italy, resulting in a negative trade balance of $3.05B. Between November 2023 and November 2024 the exports of United States have increased by $1.16B (49.8%) from $2.33B to $3.48B, while imports increased by $290M (4.64%) from $6.24B to $6.53B.

Trade In November 2024, the top exports of United States to Italy were Crude Petroleum ($339M), Platinum ($237M), Soybeans ($227M), Hormones ($181M), and Petroleum Gas ($117M). In November 2024 the top imports of United States from Italy were Packaged Medicaments ($379M), Cars ($303M), Refined Petroleum ($299M), Trunks and Cases ($158M), and Wine ($156M).

Origins In November 2024 the exports of United States were mainly from Indiana ($1.51B), Texas ($456M), Louisiana ($140M), California ($139M), and New York ($124M), while imports destinations were mainly New Jersey ($779M), New York ($738M), Texas ($496M), California ($474M), and Tennessee ($395M).

Growth In November 2024, the increase in United States's year-by-year exports to Italy was explained primarily by an increase in product exports in Hormones ($131M or 260%), Platinum ($86.8M or 57.6%), and Aircraft parts (gliders, balloons, and powered... ($68.8M or 191%). In November 2024, the increase in United States's year-by-year imports from Italy was explained primarily by an increase in product imports in Refined Petroleum ($270M or 953%), Cars ($103M or 51.3%), and Paintings ($46.8M or 150%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (November 2023 - November 2024)$1.16B(49.8%)

IMPORT GROWTH (November 2023 - November 2024)$290M(4.64%)

MAIN EXPORTER (November 2024)Indiana$1.51B

This section shows exports and imports data at subnational level for United States. 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 States over time.

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

For full datasets download visit Bulk Download page.

Explore Italy and United States Data

Go to Bulk Download

Subscribe today to OEC pro and access the latest data

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, United States exported $26.5B to Italy. The main products exported from United States to Italy were Crude Petroleum ($4.76B), Hormones ($3.03B), and Petroleum Gas ($2.63B). During the last 5 years the exports of United States to Italy have increased at an annualized rate of 7.64%, from $18.3B in 2018 to $26.5B in 2023.

In 2018, Italy exported $70.9B to United States. The main products exported from Italy to United States were Packaged Medicaments ($5.47B), Cars ($5.09B), and Vaccines, blood, antisera, toxins and cultures ($2.23B). During the last 5 years the exports of Italy to United States have increased at an annualized rate of 6.19%, from $52.5B in 2023 to $70.9B in 2018.

Exports from United States () to Italy () (2023)

Exports from Italy () to United States () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United States
Top DestinationCanada$269B

Italy
Top DestinationGermany$71.4B

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

In 2023, countries that imported more from United States than Italy included Canada ($269B), Mexico ($243B), and China ($154B).

In 2023, countries that imported more from Italy than United States included France ($61.1B), Romania ($11.3B), and Austria ($14.7B).

Difference in imports from Italy () and United States () (2023)

Comparative Advantage United States - Italy

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, United States had a large net trade with Italy in the exports of Mineral Products ($8.29B), Chemical Products ($5.69B), and Machines ($3.82B).

During 2018, Italy had a large net trade with United States in the exports of Machines ($17.7B), Chemical Products ($11.6B), and Transportation ($8.69B).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential United States Italy+$1.6BPetroleum Gas

Top Product Potential Italy United States+$1.28BPackaged Medicaments

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.

Subscribe today to OEC pro and access the latest data

Bilateral Service Trade

Ita Year

Usa Year

In 2017, United States exported services to Italy worth $8.98B, with Travel ($2.74B), Financial services ($1.7B), and Transportation ($1.17B) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United States () to Italy () (2017)

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

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of United States and Italy. This means that a dot/product with the flag of United States 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 States.

Product Space of United States () and Italy () (2023)

Keep Exploring

United States
Ireland
United States
Iceland
Saint Vincent and the Grenadines
Italy
British Virgin Islands
Italy