Italy-Russian Federation Bilateral Trade Analysis 2023
Complete trade statistics: $9.42B total volume •Italy surplus: $655.74M
Italy → Russian Federation
$5.04B
Exports (2023)
Russian Federation → Italy
$4.38B
Imports (2023)
Trade Balance
$655.74M
Surplus for Italy
Total Trade
$9.42B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Italy and Russian Federation. 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-Russian Federation commercial relationship and competitive positioning in global markets.
Italy → Russian Federation Exports
Export Market Intelligence
🎯 Strategic Export Focus
Italy's export portfolio to Russian Federation demonstrates strong diversification across multiple sectors, with footwear: n.e.c. in heading no. 6403, (not covering the ankle), outer soles of rubber, plastics or composition leather, uppers of leather representing a key competitive advantage in this bilateral market.
Russian Federation → Italy Imports
Import Dependency Profile
📦 Import Strategy Analysis
Italy's import pattern from Russian Federation reveals strategic sourcingin petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Italy demonstrates competitive strength in exportingfootwear: n.e.c. in heading no. 6403, (not covering the ankle), outer soles of rubber, plastics or composition leather, uppers of leather to Russian Federation, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $9.42B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Italy-Russian Federation Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $9.42 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Italy maintains a surplus of $655.74 million
- Export Focus: Italy's primary exports include footwear: n.e.c. in heading no. 6403, (not covering the ankle), outer soles of rubber, plastics or composition leather, uppers of leather, taps, cocks, valves and similar appliances: for pipes, boiler shells, tanks, vats or the like, including thermostatically controlled valves, medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale
- Import Dependencies: Key imports from Russian Federation include petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas, iron: non-alloy pig iron containing by weight 0.5% or less of phosphorus, in pigs, blocks or other primary forms, iron or non-alloy steel: semi-finished products of iron or non-alloy steel: containing by weight less than 0.25% of carbon, of rectangular (other than square) cross-section
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 $9.42B 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 footwear: n.e.c. in heading no. 6403, (not covering the ankle), outer soles of rubber, plastics or composition leather, uppers of leather.
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 footwear: n.e.c. in heading no. 6403, (not covering the ankle), outer soles of rubber, plastics or composition leather, uppers of leathercomplements Russian Federation's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $9.42B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $9.42B 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 $9.42 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in footwear: n.e.c. in heading no. 6403, (not covering the ankle), outer soles of rubber, plastics or composition leather, uppers of leather and petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Italy's trade surplus of $655.74 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 Russian Federation represents a total trade volume of $9.42 billion in 2023. This partnership demonstrates a favorable trade balance for Italy, with exports exceeding importsby $655.74 million.
Export Strengths
Italy's exports to Russian Federation total $5.04 billion, with competitive advantages in footwear: n.e.c. in heading no. 6403, (not covering the ankle), outer soles of rubber, plastics or composition leather, uppers of leather, representing $139.07M or2.8% of bilateral exports.
Import Dependencies
Imports from Russian Federation amount to $4.38 billion, highlighting economic interdependence in petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas, with Petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas comprising34.8% 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 Russian Federation in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023