Italy2021 Economic Complexity Trade : 1.27, Rank 19 of 131
2021 Economic Complexity Technology : 1.34, Rank 5 of 96
2021 Economic Complexity Research : 1.74, Rank 11 of 140
2021 Product Exports | Imports: $597B | $570B, 7 of 226 | 10 of 226
2021 Per Capita Product Exports | Imports: $10.1k | $9.65k, 35 of 219 | 38 of 219
Overview In 2021, Italy was the number 8 economy in the world in terms of GDP (current US$), the number 7 in total exports, the number 10 in total imports, the number 27 economy in terms of GDP per capita (current US$) and the number 19 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Italy are Packaged Medicaments ($26.8B), Cars ($16.5B), Refined Petroleum ($15.2B), Motor vehicles; parts and accessories (8701 to 8705) ($14.9B), and Vaccines, blood, antisera, toxins and cultures ($10.1B), exporting mostly to Germany ($78.4B), France ($61.6B), United States ($58.1B), Spain ($29.7B), and United Kingdom ($27B).
In 2021, Italy was the world's biggest exporter of Unglazed Ceramics ($5.3B), Other Small Iron Pipes ($4.9B), Pasta ($3.62B), Tanned Equine and Bovine Hides ($2.89B), and Processed Tomatoes ($2.26B)
Imports The top imports of Italy are Crude Petroleum ($31B), Petroleum Gas ($30.5B), Cars ($26.2B), Packaged Medicaments ($17.6B), and Vaccines, blood, antisera, toxins and cultures ($11.5B), importing mostly from Germany ($88.7B), France ($46B), China ($45.6B), Netherlands ($31.2B), and Spain ($30.6B).
In 2021, Italy was the world's biggest importer of Electricity ($7.44B), Hot-Rolled Iron ($5.65B), Pure Olive Oil ($2.03B), Rolled Tobacco ($1.97B), and Bovine ($1.46B)
Location Italy borders Austria, France, San Marino, Slovenia, and Switzerland by land and Albania, Algeria, Croatia, Greece, Libya, Malta, Montenegro, Spain, and Tunisia by sea.
The following section uses the most recent trade data from partners of Italy.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2021): Packaged Medicaments, $26.8B
Top Destination (2021): Germany, $78.4B
In 2021, Italy exported a total of $597B, making it the number 7 exporter in the world. During the last five reported years the exports of Italy have changed by $143B from $454B in 2016 to $597B in 2021.
The most recent exports are led by Packaged Medicaments ($26.8B), Cars ($16.5B), Refined Petroleum ($15.2B), Motor vehicles; parts and accessories (8701 to 8705) ($14.9B), and Vaccines, blood, antisera, toxins and cultures ($10.1B). The most common destination for the exports of Italy are Germany ($78.4B), France ($61.6B), United States ($58.1B), Spain ($29.7B), and United Kingdom ($27B).
Italy Exports Services (2020): $73.1B
Italy Imports Services (2020): $87.7B
In 2020, Italy exported $73.1B worth of services. The top services exported by Italy in 2020 were Miscellaneous business, professional, and technical services ($21.6B), Personal travel ($16.5B), Financial services ($6.39B), Merchanting and other trade-related services ($4.48B), and Sea transport ($4.44B).
The top services imported by Italy in 2020 were Miscellaneous business, professional, and technical services ($25.9B), Financial services ($10.7B), Other transport ($7.33B), Personal travel ($7.27B), and Sea transport ($6.44B).
Italy has a high level of specialization in Processed Tomatoes (14.9), Combed Wool or Animal Hair Fabric (14.8), Carded Wool or Animal Hair Fabric (14.8), Vermouth (14.1), and Vinegar (14). Specialization is measured using RCA, an index that takes the ratio between Italy observed and expected exports in each product.
The highest complexity exports of Italy according to the product complexity index (PCI) are Machining centres, unit construction machines (single station) and multi-station transfer machines for... (2.18), Textile machinery; for extruding, drawing, texturing or cutting man-made textile materials (1.97), Electric (electrically heated gas) soldering, brazing, welding machines and apparatus, capable or... (1.94), Machine-tools; for planing, shaping, slotting, broaching, gear cutting and grinding, finishing, sawing,... (1.9), and Machinery and mechanical appliances; having individual functions, n.e.c. in this chapter (1.87). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Italy according to the relatedness index, were Insulating Glass (0.52), Electrical Lighting and Signalling Equipment (0.52), Magnesium (0.52), Corrugated Paper (0.52), and Spring, Air, and Gas Guns (0.52). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Italy is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
During the last 20 years Italy's economy has become relatively less complex, moving from the 13th to the 19th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
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