Although there is little in the way of energy products such as oil or metals and minerals required in manufacturing, this is where the majority of Italian imports are focused. In the most recent annual figures, about $465 in crude petroleum imports ($43.5 billion), petroleum gas ($26.8 billion) and cars ($20.3 billion) topped the list with raw materials making up much of the balance along with food, textiles and clothing.
Italy’s mountainous terrain means the land is unsuitable for mass agriculture and so imports mainly support the manufacturing sector, dominated by automobiles and machinery. Main trading partners include Germany, France, China and the Netherlands.
Official Name (Local Language) | Repubblica Italiana | Capital | Rome | Population | 62,007,540 | Currency | Euro | GDP | $1,852 billion | Languages | Italian | Telephone Dial In | 39 |
451,416
4,537
208
Country
Trade
% Partner Share
Germany
73,735
16.33
France
39,637
8.78
China
32,02
7.09
Netherlands
25,399
5.63
Spain
23,893
5.29
Export Product
Number
Petroleum oils and oils obtained from bituminou
6.9%
Automobiles with diesel engine displacing more
5.8%
Natural gas in gaseous state
3.5%
Other medicaments of mixed or unmixed products,
3.4%
Petroleum oils, etc, (excl. crude); preparation
1.9%
%
Product List
2.2%
Fruits, vegetables, grapes, potatoes, sugar beets, soybeans, grain, olives; beef, dairy products; fish
%
Industry List
23.9%
Tourism, machinery, iron and steel, chemicals, food processing, textiles, motor vehicles, clothing, footwear, ceramics
%
Services List
73.8%
Export finance is a revolving facility which lenders offer – it enables SMEs to buy stock and can help ease the pressure from cash flow issues.
Typically, a trade finance bank will fund most of the cost of the goods, including charges (e.g. delivery costs).
Trade finance offers upsides over more traditional bank finance such as asset finance or loans. Trade finance provides up front funding without affecting existing relationships with banks.
How does it work?
If you’re a business importing or exporting stock supplies around the world, then a trade finance facility would assist your company to fund this through offering a letter of credit (LC) or some form of cash advance.
I’m looking to export to Italy, how can Trade Finance Global help, and how does it work?
If you are looking to export inventory to other international markets, you may require finance for exporting, which is a commercial agreement between yourself (the exporter), and the importer. An alternative finance bank will advance you the cost of producing the stock that you are exporting (as a debt instrument), either once you have sent the goods, or before producing them. Once your foreign importer has received the inventory and pays you for the import, you will repay the advance from the export funder over an agreed period.
Information
Exporting to Italy? Contact our local experts
Italy Economic Statistics
https://www.governo.it/
https://countryeconomy.com/ratings/italy
Banca d'Italia
0.9214
11.4%
29.9%
-0.2%
0.25%
$1,852 billion
$36,300
Euro
EUR
High Income
44/138
54/180
51/190
36/136
Currency in Italy