Italy-United Kingdom Bilateral Trade Analysis 2023
Complete trade statistics: $38.97B total volume •Italy surplus: $18.31B
Italy → United Kingdom
$28.64B
Exports (2023)
United Kingdom → Italy
$10.33B
Imports (2023)
Trade Balance
$18.31B
Surplus for Italy
Total Trade
$38.97B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Italy and United Kingdom. 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-United Kingdom commercial relationship and competitive positioning in global markets.
Italy → United Kingdom Exports
Export Market Intelligence
🎯 Strategic Export Focus
Italy's export portfolio to United Kingdom demonstrates strong diversification across multiple sectors, with medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale representing a key competitive advantage in this bilateral market.
United Kingdom → Italy Imports
Import Dependency Profile
📦 Import Strategy Analysis
Italy's import pattern from United Kingdom reveals significant dependencyin oils: petroleum oils and oils obtained from bituminous minerals, crude, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Italy demonstrates competitive strength in exportingmedicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale to United Kingdom, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $38.97B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Italy-United Kingdom Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $38.97 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Italy maintains a surplus of $18.31 billion
- Export Focus: Italy's primary exports include medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, wine: sparkling, wine: still, in containers holding 2 litres or less
- Import Dependencies: Key imports from United Kingdom include oils: petroleum oils and oils obtained from bituminous minerals, crude, turbo-jets: of a thrust exceeding 25kn, vehicles: with both spark-ignition internal combustion reciprocating piston engine and electric motor for propulsion, incapable of being charged by plugging to external source of electric power
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 $38.97B 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 medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale.
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 medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail salecomplements United Kingdom's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in oils: petroleum oils and oils obtained from bituminous minerals, crude.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $38.97B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $38.97B 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 $38.97 billion bilateral trade volume represents a significant economic factorfor both economies.
Industrial Integration
Trade flows in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale and oils: petroleum oils and oils obtained from bituminous minerals, crude demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Italy's trade surplus of $18.31 billion 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 United Kingdom represents a total trade volume of $38.97 billion in 2023. This partnership demonstrates a favorable trade balance for Italy, with exports exceeding importsby $18.31 billion.
Export Strengths
Italy's exports to United Kingdom total $28.64 billion, with competitive advantages in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, representing $623.42M or2.2% of bilateral exports.
Import Dependencies
Imports from United Kingdom amount to $10.33 billion, highlighting economic interdependence in oils: petroleum oils and oils obtained from bituminous minerals, crude, with Oils: petroleum oils and oils obtained from bituminous minerals, crude comprising6.5% 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 United Kingdom in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023