United Kingdom-Italy Bilateral Trade Analysis 2023
Complete trade statistics: $38.97B total volume •United Kingdom deficit: $18.31B
United Kingdom → Italy
$10.33B
Exports (2023)
Italy → United Kingdom
$28.64B
Imports (2023)
Trade Balance
$18.31B
Deficit for United Kingdom
Total Trade
$38.97B
Combined Volume
Trade Flow Visualization
Direct trade relationship between United Kingdom and Italy. Green line shows exports from United Kingdom, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the United Kingdom-Italy commercial relationship and competitive positioning in global markets.
United Kingdom → Italy Exports
Export Market Intelligence
🎯 Strategic Export Focus
United Kingdom's export portfolio to Italy demonstrates strong diversification across multiple sectors, with oils: petroleum oils and oils obtained from bituminous minerals, crude representing a key competitive advantage in this bilateral market.
Italy → United Kingdom Imports
Import Dependency Profile
📦 Import Strategy Analysis
United Kingdom's import pattern from Italy reveals significant dependencyin medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
United Kingdom demonstrates competitive strength in exportingoils: petroleum oils and oils obtained from bituminous minerals, crude to Italy, 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: United Kingdom-Italy Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $38.97 billionrepresenting a significant bilateral economic relationship
- Trade Balance: United Kingdom maintains a deficit of $18.31 billion
- Export Focus: United Kingdom's primary exports 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
- Import Dependencies: Key imports from Italy 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
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 United Kingdom leveraging its comparative advantages in oils: petroleum oils and oils obtained from bituminous minerals, crude.
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
United Kingdom's specialization in oils: petroleum oils and oils obtained from bituminous minerals, crudecomplements Italy's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale.
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 oils: petroleum oils and oils obtained from bituminous minerals, crude and medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
United Kingdom's trade deficit of $18.31 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 United Kingdom and Italy represents a total trade volume of $38.97 billion in 2023. This partnership demonstrates an unfavorable trade balance for United Kingdom, with imports exceeding exportsby $18.31 billion.
Export Strengths
United Kingdom's exports to Italy total $10.33 billion, with competitive advantages in oils: petroleum oils and oils obtained from bituminous minerals, crude, representing $675.63M or6.5% of bilateral exports.
Import Dependencies
Imports from Italy amount to $28.64 billion, highlighting economic interdependence in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, with Medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale comprising2.2% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates United Kingdom's strategic sourcing from Italy. 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 United Kingdom and Italy in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023