Exporting to Itay

Italy Export Guide | Trade Finance Global

Exporting to Italy

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.

Italy Country Profile

Official Name (Local Language) Repubblica Italiana
Capital Rome
Population 62,007,540
Currency Euro
GDP $1,852 billion
Languages Italian
Telephone Dial In 39

Italy Imports Profile

Imports ($m USD)

451,416

Number of Import Products

4,537

Number of Import Partners

208

Top 5 import partners

Country

Trade

% Partner Share

Germany

73,735

16.33

France

39,637

8.78

China

32,02

07.09

Netherlands

25,399

5.63

Spain

23,893

5.29

Top 5 Import Products at HS 6 digit level

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%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for Italy

Agriculture

%

Product List

2.2%

Fruits, vegetables, grapes, potatoes, sugar beets, soybeans, grain, olives; beef, dairy products; fish

Industry

%

Industry List

23.9%

Tourism, machinery, iron and steel, chemicals, food processing, textiles, motor vehicles, clothing, footwear, ceramics

Services

%

Services List

73.8%

Exporting to Italy: What is trade finance?

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

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    Italy Economic Statistics

    Government Website

    http://www.governo.it/

    Sovereign Ratings

    https://countryeconomy. com/ratings/italy

    Central Bank

    Banca d'Italia

    Currency USD Exchange Rate

    9214

    Unemployment Rate

    11.4%

    Population below poverty line

    29.9%

    Inflation Rate

    -0.2%

    Prime Lending Rate

    0.25%

    GDP

    $1,852 billion

    GDP Pro Capita (PPP)

    $36,300

    Currency Name

    Euro

    Currency Code

    EUR

    World Bank Classification

    High Income

    Competitive Industrial Performance

    44/138

    Corruption Perceptions Index

    54/180

    Ease of Doing Business

    51/190

    Enabling Trade Index

    36/136

    Currency in Italy

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