Guyana-Italy Bilateral Trade Analysis 2023
Complete trade statistics: $377.84M total volume •Guyana surplus: $239.91M
Guyana → Italy
$308.87M
Exports (2023)
Italy → Guyana
$68.97M
Imports (2023)
Trade Balance
$239.91M
Surplus for Guyana
Total Trade
$377.84M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Guyana and Italy. Green line shows exports from Guyana, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Guyana-Italy commercial relationship and competitive positioning in global markets.
Guyana → Italy Exports
Export Market Intelligence
🎯 Strategic Export Focus
Guyana's export portfolio to Italy demonstrates strategic specialization, with oils: petroleum oils and oils obtained from bituminous minerals, crude representing a key competitive advantage in this bilateral market.
Italy → Guyana Imports
Import Dependency Profile
📦 Import Strategy Analysis
Guyana's import pattern from Italy reveals significant dependencyin cast iron: cast fittings, of non-malleable cast iron, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Guyana demonstrates competitive strength in exportingoils: petroleum oils and oils obtained from bituminous minerals, crude to Italy, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $377.84M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Guyana-Italy Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $377.84 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Guyana maintains a surplus of $239.91 million
- Export Focus: Guyana's primary exports include oils: petroleum oils and oils obtained from bituminous minerals, crude, aluminium ores and concentrates, cereals: rice in the husk (paddy or rough)
- Import Dependencies: Key imports from Italy include cast iron: cast fittings, of non-malleable cast iron, iron or non-alloy steel (excluding cast iron): seamless, (excluding cold-drawn or cold-rolled), tubes, pipes and hollow profiles of circular cross-section, petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $377.84M represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Guyana leveraging its comparative advantages in oils: petroleum oils and oils obtained from bituminous minerals, crude.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Guyana's specialization in oils: petroleum oils and oils obtained from bituminous minerals, crudecomplements Italy's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in cast iron: cast fittings, of non-malleable cast iron.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $377.84M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $377.84M bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $377.84 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in oils: petroleum oils and oils obtained from bituminous minerals, crude and cast iron: cast fittings, of non-malleable cast iron demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Guyana's trade surplus of $239.91 million strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Guyana and Italy represents a total trade volume of $377.84 million in 2023. This partnership demonstrates a favorable trade balance for Guyana, with exports exceeding importsby $239.91 million.
Export Strengths
Guyana's exports to Italy total $308.87 million, with competitive advantages in oils: petroleum oils and oils obtained from bituminous minerals, crude, representing $298.14M or96.5% of bilateral exports.
Import Dependencies
Imports from Italy amount to $68.97 million, highlighting economic interdependence in cast iron: cast fittings, of non-malleable cast iron, with Cast iron: cast fittings, of non-malleable cast iron comprising21.2% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Guyana's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Guyana and Italy in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023