Italy-Ireland Bilateral Trade Analysis 2023
Complete trade statistics: $11.49B total volume •Italy deficit: $3.45B
Italy → Ireland
$4.02B
Exports (2023)
Ireland → Italy
$7.47B
Imports (2023)
Trade Balance
$3.45B
Deficit for Italy
Total Trade
$11.49B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Italy and Ireland. 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-Ireland commercial relationship and competitive positioning in global markets.
Italy → Ireland Exports
Export Market Intelligence
🎯 Strategic Export Focus
Italy's export portfolio to Ireland demonstrates strong diversification across multiple sectors, with jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof representing a key competitive advantage in this bilateral market.
Ireland → Italy Imports
Import Dependency Profile
📦 Import Strategy Analysis
Italy's import pattern from Ireland reveals strategic sourcingin polypeptide hormones, protein hormones and glycoprotein hormones, their derivatives and structural analogues: other than somatotropin, (its derivatives and structural anaologues) and insulin and its salts, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Italy demonstrates competitive strength in exportingjewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof to Ireland, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $11.49B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Italy-Ireland Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $11.49 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Italy maintains a deficit of $3.45 billion
- Export Focus: Italy's primary exports include jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof, medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, blood, human or animal, antisera, other blood fractions and immunological products: immunological products, mixed, put up in measured doses or in forms or packings for retail sale
- Import Dependencies: Key imports from Ireland include polypeptide hormones, protein hormones and glycoprotein hormones, their derivatives and structural analogues: other than somatotropin, (its derivatives and structural anaologues) and insulin and its salts, medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, telephones for cellular networks or for other wireless networks
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents a significant global 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 $11.49B 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 jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof.
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 jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereofcomplements Ireland's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in polypeptide hormones, protein hormones and glycoprotein hormones, their derivatives and structural analogues: other than somatotropin, (its derivatives and structural anaologues) and insulin and its salts.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $11.49B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $11.49B 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 $11.49 billion bilateral trade volume represents a significant economic factorfor both economies.
Industrial Integration
Trade flows in jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof and polypeptide hormones, protein hormones and glycoprotein hormones, their derivatives and structural analogues: other than somatotropin, (its derivatives and structural anaologues) and insulin and its salts demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Italy's trade deficit of $3.45 billion impacts 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 Ireland represents a total trade volume of $11.49 billion in 2023. This partnership demonstrates an unfavorable trade balance for Italy, with imports exceeding exportsby $3.45 billion.
Export Strengths
Italy's exports to Ireland total $4.02 billion, with competitive advantages in jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof, representing $691.79M or17.2% of bilateral exports.
Import Dependencies
Imports from Ireland amount to $7.47 billion, highlighting economic interdependence in polypeptide hormones, protein hormones and glycoprotein hormones, their derivatives and structural analogues: other than somatotropin, (its derivatives and structural anaologues) and insulin and its salts, with Polypeptide hormones, protein hormones and glycoprotein hormones, their derivatives and structural analogues: other than somatotropin, (its derivatives and structural anaologues) and insulin and its salts comprising31.5% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Italy's strategic sourcing from Ireland. 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 Ireland in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023