Italy has a highly skilled, highly educated workforce which has propelled the country’s reputation for producing high quality, superior brands in a variety of manufactured products. Engineering products, clothing and textiles, motor vehicles and production machinery all contribute to about $500 billion in annual exports.
Packaged medicines are the country’s top export, estimated at $22 billion followed by refined petroleum ($19 billion), vehicle parts ($14 billion) and cars ($10 billion). Top export destinations are Germany, France, the United States, the United Kingdom and Switzerland.
Official Name (Local Language) | Repubblica Italiana | Capital | Rome | Population | 62,007,540 | Currency | Euro | GDP | $1,852 billion | Languages | Italian | Telephone Dial In | 39 |
503,054
4,443
228
Country
Trade
% Partner Share
Germany
62,814
12.49
France
51,815
10.30
United States
45,608
9.07
Spain
26,094
5.19
United Kingdom
25,870
5.14
Export Product
Number
Petroleum oils, etc, (excl. crude); preparation
3.6%
Other medicaments of mixed or unmixed products,
3.6%
Automobiles with reciprocating piston engine di
2.9%
Art. of jewellery and pts thereof of/o prec mtl
2.7%
Motor vehicle parts nes
1.5%
%
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
%
Service List
73.8%
Stock finance is a revolving facility which alternative financiers offer – it enables organizations to buy stock supplies and can help reduce the pressure from cash management.
Generally, an alternative financier will fund all of the cost of the goods, including charges (e.g. bank charges).
Trade finance offers upsides over more traditional bank finance such as asset finance or loans. Trade finance provides quick funding without affecting existing bank relationships.
How does it work?
If you’re an SME importing or exporting goods internationally, then a trade finance facility would allow you to fund this through offering a letter of credit or some form of cash advance.
I’m looking to import from Italy, how can Trade Finance Global help, and how does it work?
If you’re looking to import products from other international markets, you may need import finance, which is an agreement between yourself (the importer) and the foreign exporter. An alternative finance bank would act as the intermediary, paying the foreign exporter on your behalf until you get the products and have then sold them to your end debtor. Repaying the lender then occurs over an agreed period.
Information
Importing from 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