Italy-Grenada Bilateral Trade Analysis 2023
Complete trade statistics: $3.98M total volume •Italy surplus: $3.18M
Italy → Grenada
$3.58M
Exports (2023)
Grenada → Italy
$404,566
Imports (2023)
Trade Balance
$3.18M
Surplus for Italy
Total Trade
$3.98M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Italy and Grenada. Green line shows exports from Italy, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Italy-Grenada commercial relationship and competitive positioning in global markets.
Italy → Grenada Exports
Export Market Intelligence
🎯 Strategic Export Focus
Italy's export portfolio to Grenada demonstrates strategic specialization, with furniture incorporating refrigerating or freezing equipment: for storage and display, n.e.c. in item no. 8418.1, 8418.2, 8418.3 or 8418.4 (chests, cabinets, display counters, show-cases and the like) representing a key competitive advantage in this bilateral market.
Grenada → Italy Imports
Import Dependency Profile
📦 Import Strategy Analysis
Italy's import pattern from Grenada reveals significant dependencyin spices: nutmeg, neither crushed nor ground, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Italy demonstrates competitive strength in exportingfurniture incorporating refrigerating or freezing equipment: for storage and display, n.e.c. in item no. 8418.1, 8418.2, 8418.3 or 8418.4 (chests, cabinets, display counters, show-cases and the like) to Grenada, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $3.98M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Italy-Grenada Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $3.98 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Italy maintains a surplus of $3.18 million
- Export Focus: Italy's primary exports include furniture incorporating refrigerating or freezing equipment: for storage and display, n.e.c. in item no. 8418.1, 8418.2, 8418.3 or 8418.4 (chests, cabinets, display counters, show-cases and the like), chandeliers and other electric ceiling or wall light fittings: excluding those used for lighting public open spaces or thoroughfares, refrigerating or freezing equipment: n.e.c. in heading no. 8418
- Import Dependencies: Key imports from Grenada include spices: nutmeg, neither crushed nor ground, cocoa beans: whole or broken, raw or roasted, air conditioning machines: with motor driven fan and elements for temperature control, parts thereof
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 $3.98M 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 Italy leveraging its comparative advantages in furniture incorporating refrigerating or freezing equipment: for storage and display, n.e.c. in item no. 8418.1, 8418.2, 8418.3 or 8418.4 (chests, cabinets, display counters, show-cases and the like).
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
Italy's specialization in furniture incorporating refrigerating or freezing equipment: for storage and display, n.e.c. in item no. 8418.1, 8418.2, 8418.3 or 8418.4 (chests, cabinets, display counters, show-cases and the like)complements Grenada's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in spices: nutmeg, neither crushed nor ground.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $3.98M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $3.98M 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 $3.98 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in furniture incorporating refrigerating or freezing equipment: for storage and display, n.e.c. in item no. 8418.1, 8418.2, 8418.3 or 8418.4 (chests, cabinets, display counters, show-cases and the like) and spices: nutmeg, neither crushed nor ground demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Italy's trade surplus of $3.18 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 Italy and Grenada represents a total trade volume of $3.98 million in 2023. This partnership demonstrates a favorable trade balance for Italy, with exports exceeding importsby $3.18 million.
Export Strengths
Italy's exports to Grenada total $3.58 million, with competitive advantages in furniture incorporating refrigerating or freezing equipment: for storage and display, n.e.c. in item no. 8418.1, 8418.2, 8418.3 or 8418.4 (chests, cabinets, display counters, show-cases and the like), representing $525,039 or14.7% of bilateral exports.
Import Dependencies
Imports from Grenada amount to $404.57 thousand, highlighting economic interdependence in spices: nutmeg, neither crushed nor ground, with Spices: nutmeg, neither crushed nor ground comprising96.3% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Italy'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 Italy and Grenada in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023