Importing from Italy

Italy Import Guide | Trade Finance Global

Importing from Italy

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.

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 Exports Profile

Exports ($m USD)

503,054

Number of Export Products

4,443

Number of Export Partners

228

Top 5 export partners

Country

Trade

% Partner Share

Germany

62,814

12.49

France

51,815

10.30

United States

45,608

09.07

Spain

26,094

5.19

United Kingdom

25,87

5.14

Top 5 Export Products at HS 6 digit level

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%

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

%

Service List

73.8%

Importing from Italy: What is trade finance?

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

Government Website

https://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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