Italy-Sri Lanka Bilateral Trade Analysis 2023
Complete trade statistics: $890.16M total volume •Italy deficit: $409.05M
Italy → Sri Lanka
$240.55M
Exports (2023)
Sri Lanka → Italy
$649.60M
Imports (2023)
Trade Balance
$409.05M
Deficit for Italy
Total Trade
$890.16M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Italy and Sri Lanka. 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-Sri Lanka commercial relationship and competitive positioning in global markets.
Italy → Sri Lanka Exports
Export Market Intelligence
🎯 Strategic Export Focus
Italy's export portfolio to Sri Lanka demonstrates strategic specialization, with fabrics: knitted or crocheted fabrics of a width exceeding 30 cm, other than those of heading 60.01, containing by weight 5% or more of elastomeric yarn but not containing rubber thread representing a key competitive advantage in this bilateral market.
Sri Lanka → Italy Imports
Import Dependency Profile
📦 Import Strategy Analysis
Italy's import pattern from Sri Lanka reveals significant dependencyin brassieres: whether or not knitted or crocheted, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Italy demonstrates competitive strength in exportingfabrics: knitted or crocheted fabrics of a width exceeding 30 cm, other than those of heading 60.01, containing by weight 5% or more of elastomeric yarn but not containing rubber thread to Sri Lanka, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $890.16M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Italy-Sri Lanka Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $890.16 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Italy maintains a deficit of $409.05 million
- Export Focus: Italy's primary exports include fabrics: knitted or crocheted fabrics of a width exceeding 30 cm, other than those of heading 60.01, containing by weight 5% or more of elastomeric yarn but not containing rubber thread, fabrics: narrow (excluding pile fabrics), containing by weight 5% or more of elastomeric yarn or rubber thread, yarn, synthetic: filament, monofilament (less than 67 decitex), of nylon or other polymides (not high tenacity or textured), single, untwisted or twisted 50 turns or less per metre, not for retail sale, not sewing thread
- Import Dependencies: Key imports from Sri Lanka include brassieres: whether or not knitted or crocheted, briefs and panties: women's or girls', of man-made fibres, knitted or crocheted, t-shirts, singlets and other vests: of cotton, knitted or crocheted
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 $890.16M 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 fabrics: knitted or crocheted fabrics of a width exceeding 30 cm, other than those of heading 60.01, containing by weight 5% or more of elastomeric yarn but not containing rubber thread.
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 fabrics: knitted or crocheted fabrics of a width exceeding 30 cm, other than those of heading 60.01, containing by weight 5% or more of elastomeric yarn but not containing rubber threadcomplements Sri Lanka's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in brassieres: whether or not knitted or crocheted.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $890.16M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $890.16M 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 $890.16 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in fabrics: knitted or crocheted fabrics of a width exceeding 30 cm, other than those of heading 60.01, containing by weight 5% or more of elastomeric yarn but not containing rubber thread and brassieres: whether or not knitted or crocheted demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Italy's trade deficit of $409.05 million 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 Sri Lanka represents a total trade volume of $890.16 million in 2023. This partnership demonstrates an unfavorable trade balance for Italy, with imports exceeding exportsby $409.05 million.
Export Strengths
Italy's exports to Sri Lanka total $240.55 million, with competitive advantages in fabrics: knitted or crocheted fabrics of a width exceeding 30 cm, other than those of heading 60.01, containing by weight 5% or more of elastomeric yarn but not containing rubber thread, representing $56.88M or23.6% of bilateral exports.
Import Dependencies
Imports from Sri Lanka amount to $649.60 million, highlighting economic interdependence in brassieres: whether or not knitted or crocheted, with Brassieres: whether or not knitted or crocheted comprising22.6% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Italy's strategic sourcing from Sri Lanka. 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 Sri Lanka in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023