As the country faces challenges in geographic terms, as it has mountainous terrains that make agriculture difficult, automobiles and machinery industry dominate the Italian trade
. Due to the same reason, the Italian trade depends on the manufacturing sector.
Italy, also known as The Boot, is bordering France, Switzerland, Austria and Slovenia and it occupies the ninth position in the top of the largest exporters in Europe. It has become famous around the world with its unique brands, such as Armani, Valentino, Versace, Benetton, Prada, FIAT, Lancia, Alfa Romeo, Maserati and Lamborghini. With these products, Italy has managed to create a niche in the global marketplace, especially where there is a high demand for premium products and superior goods.
Imports in Italy
Among the top imports in Italy are the minerals, nonferrous minerals, transport and energy products, chemicals, but also textiles, clothing and food and beverages. The reason for which Italy imports products from the energy sector, such as oil, is that it has very few oil deposits. Because it also has a strong lack of minerals and metals, it is mandatory for the country to import them in order to manufacture goods.
The advantages of Italy are highly skilled workforce and great amounts of capital in regards to their manufactured foods, but the disadvantage is that is has lack of natural resources for energy and minerals, therefore is has a strong need of importing a majority of these products.
Products imported by Italy and top countries Italy imports from
Italy imports fuels that represent 17 percent of the total imports, motor vehicles, representing around 10 percent, raw minerals, also 10 percent, chemicals with a 9 percent import rate, food, with a 7 percent rate and electronic devices, with an 8 percent rate.
In terms of countries, Italy imports from Germany, France, China, Netherlands and Spain.
Exports in Italy
In 2008, Italy experienced a decrease in the total global trade volumes, but that did not affect the economy that maintained a strong position, being ranked eighth in the world for export volumes.
Exports in Italy have increased in March 2014 in comparison to February 2015, and the National Institute of Statistics (ISTAT) reports the actual numbers.
Main exports from Italy
The main exports of Italy are precision machinery that represents 18 percent of total exports, metals and metal products, worth 13 percent, but also clothing and footwear, motor vehicles, including luxury vehicles, motorcycles and scooters. Italy also imports pharmaceuticals and other chemicals, and food. Around 56 percent of Italy’s products are exported to other European Union countries, but the most important ones are Germany, France, United States, Switzerland, and Spain.