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In January 2022, Italy registered a trade deficit with the European Union amounting to about 890 million euros. In general, Italy profits greatly from the exchange of goods and services with the EU partners. When looking at the global scale, Italy is once again a winner in this trading system. In March 2019, Italy registered a trade surplus of 4.6 billion euros.

Trade buddies

Italian products are very popular abroad, and exports are vital for many sectors of the country’s industry. Italy exports most of its products to its partners in the European Union. In fact, among the leading importers of Italian products, four out of six belong to the EU. Germany is Italy’s leading export partner, with 12.5 percent of the total Italian exports headed to the EU’s biggest economy. The other way around is also true. In 2017, 16.5 percent of the total imports to Italy came from Germany.

The Northwest looks abroad

When looking at the trade balance of the Italian regions, it becomes evident that some areas of the country are more internationalized than others, also due to the higher level of industrialization. The Northwest of the country, which includes the regions of Lombardy, Piedmont, Liguria and Aosta Valley, exported almost 48 billion euros worth of goods and services in the last quarter of 2018. In comparison, exports from the Northeast, the second microregion in the country in terms of exports, reached a value of 39 billion euros.