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06-11-2023
Imports
Italy imported $689.2 billion worth of goods from the world in 2022, a 21.3% year-on-year increase in Italy's imports from $568.2 billion in 2021.
Italy's top five imported products by value in 2022 are LPG, crude oil, automobiles, pharmaceutical blends, and imported electricity. Together, these five products account for about a quarter (25.3%) of Italy's total import bill in 2022.
Main countries supplying Italy's imports
The latest country-specific data show that Italy's imports are mainly supplied by exporters from the following countries: Germany (13.9% of Italy's total), Mainland China (8.8%), France (7.4%), the Netherlands (5.6%), Spain (4.7%), Russia (4.2%), Belgium (3.9%), the United States (3.8%), Azerbaijan (3.1%), Switzerland (2.8%), Algeria (also 2.8%) and Austria (2.2%) ).
Italy's top 10 imports
1. Mineral fuels including oil: $147.3 billion (21.4% of total imports)
2. Machinery including computers: $58 billion (8.4%)
3. Electrical machinery and equipment: $52.5 billion (7.6%)
4. Vehicles: $46.9 billion (6.8%)
5. Pharmaceuticals: $34.6 billion (5%)
6. Steel: $32.6 billion (4.7%)
7. plastics, plastic products: $30 billion (4.3%)
8. Organic chemicals: $23.1 billion (3.4%)
9. Gems, precious metals: $18.1 billion (2.6%)
10. Optical, technical, medical equipment: $14.9 billion (2.2%)
Italy's top 10 imports account for two-thirds (66.4%) of the total value of products it purchases from other countries.
The fastest growing of Italy's top 10 import categories from 2021 to 2022 is the steel category, up 92.4%. In second place are fossil fuels including oil (up 94.9%), due to increased spending on imported oil (crude and refined) and LPG in Italy. Italy's imports of organic chemicals grew by 21% year-on-year, ahead of imports of iron and steel metals (up 14.5%).
Italy's imports of gemstones and precious metals declined by -5.1% from 2021.
Exports
In 2022, Italy exported $657 billion worth of products to the world. The total value of goods exported by Italy increased by 6.7% compared to $615.9 billion in the same period last year.
Italy's five most valuable exports are blended preparations, processed petroleum, automobiles, automotive parts or accessories, and then blood components, including antisera. Together, these five major Italian exports account for 15.5% of Italy's total exports by 2022.
Main buyer countries of imports from Italy
The latest country-specific data show that Italian exports are mainly purchased by importers from the following countries: Germany (12.4% of the Italian total), the United States (10.4%), France (10%), Spain (5.1 %), Switzerland (5%), the United Kingdom (4.4%), Belgium (3.7%), Poland (3.1%), the Netherlands (3%), Mainland China (2.6%) , Austria (2.3%) and Turkey (2.1) %).
Italy's Top 10 Exports
1. Machinery including computers: $106.2 billion (16.2% of total exports)
2. Pharmaceuticals: $47.4 billion (7.2%)
3. Vehicles: $45.5 billion (6.9%)
4. motors, equipment: $40.8 billion (6.2%)
5. fossil fuels including oil: $33.7 billion (5.1%)
6. plastics, plastic products: $27.1 billion (4.1%)
7. Iron and steel products: $22.9 billion (3.5%)
8. Iron and steel: $21.2 billion (3.2%)
9. Gems, precious metals: $20.4 billion (3.1%)
10. furniture, bedding, lighting, signs, prefabricated buildings: $16.1 billion (2.5%)
Italy's top 10 exports accounted for 58% of its total global shipments.
Fossil fuels, including oil, are the fastest growing of the top 10 export categories, growing 83.7% from 2021 to 2022. This product category was driven by increased international sales of Italian refined petroleum. Second in terms of improved export sales were pharmaceuticals, which grew by 29.1%. Italy ranked third in terms of increase in shipments of iron and steel metals, up 10.3%.
The largest decline among Italy's top ten export categories was machinery, including computers. This product category declined by -2.3% year-on-year.
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