That dollar amount results from a 25.9% increase compared to $537.7 billion five years earlier during 2019.
Year over year, the overall value of goods exported from Italy rose 2.7% from $659.4 billion in 2022.
The 5 most valuable exports from Italy are medication mixes in dosage, cars, processed petroleum oils, automobile parts or accessories, then blood fractions including antisera. Combined, that quintet of leading Italian exports represents 15.6% of overall exports from Italy in 2023. That subset of major exports suggests Italy’s relatively diversified range of exported products.
Based on the average exchange rate for 2023, Italy’s official currency the euro depreciated by -3.5% against the US dollar since 2019 but strengthened by 2.6% from 2022 to 2023. The weaker European Union currency versus 2019 made Italy’s exports paid for in stronger US dollars relatively less expensive for international buyers.
Major Buyer Countries Importing from Italy
The latest available country-specific data shows that 63.3% of products exported from Italy was bought by importers in: Germany (11.8% of the Italian total), United States of America (10.6%), France (10%), Spain (5.2%), Switzerland (4.9%), United Kingdom (4.1%), Poland (3.13%), Belgium (3.06%), mainland China (3.0%), Netherlands (2.9%), Türkiye (2.2%) and Austria (also 2.2%).
Given Italy’s population of 58.9 million people, its total $677 billion in 2023 exports translates to roughly $11,500 for every resident in the south European nation. That dollar metric exceeds the average $11,100 per capita in 2022.
Italy’s Top 10 Exports
The following export product groups represent the highest dollar value in Italian global shipments during 2023. Also shown is the percentage share each export category represents in terms of overall exports from Italy.
- Machinery including computers: US$116.8 billion (17.3% of total exports)
- Vehicles: $53.8 billion (7.9%)
- Pharmaceuticals: $50.3 billion (7.4%)
- Electrical machinery, equipment: $44.3 billion (6.5%)
- Mineral fuels including oil: $28 billion (4.1%)
- Plastics, plastic articles: $24.7 billion (3.6%)
- Articles of iron or steel: $22.6 billion (3.3%)
- Gems, precious metals: $20.2 billion (3%)
- Optical, technical, medical apparatus: $17.3 billion (2.6%)
- Iron, steel: $17.1 billion (2.5%)
Italy’s top 10 exports accounted for 58.4% of the overall value of total Italian shipments.
Vehicles was the fastest grower among the top 10 export categories, up by 18.2% from 2022 to 2023.
In second place for improving export sales was machinery including computers via a 10.1% advance.
Italy’s shipments of electrical machinery and equipment posted the third-fastest gain in value, up by 8.2%.
The leading decliner among Italy’s top 10 export categories were the metals iron and steel, pulled down by an -18.9% year-over-year retreat.
Note that the results listed above are at the categorized two-digit Harmonized Tariff System (HTS) code level. For a more granular view of exported goods at the four-digit HTS code level, peruse the section below.
Searchable List of Italy’s Most Valuable Export Products
The following searchable table displays 100 of the most in-demand goods shipped from Italy during 2023. Shown beside each product label is its total export value then the percentage increase or decrease since 2022.
| Rank | Export Product | Value (US$) | Change |
|---|---|---|---|
| 1 | Medication mixes in dosage | $37,042,245,000 | +7.8% |
| 2 | Cars | $20,501,699,000 | +26.1% |
| 3 | Processed petroleum oils | $19,962,315,000 | -21.6% |
| 4 | Automobile parts/accessories | $16,253,319,000 | +9.8% |
| 5 | Blood fractions (including antisera) | $11,797,388,000 | -1.2% |
| 6 | Cases, handbags, wallets | $11,378,317,000 | +3.6% |
| 7 | Jewelry | $10,963,722,000 | +13.6% |
| 8 | Taps, valves, similar appliances | $8,942,990,000 | +4.5% |
| 9 | Footwear (leather) | $8,925,550,000 | +5.9% |
| 10 | Wine | $8,402,442,000 | +1.8% |
| 11 | Miscellaneous furniture | $8,287,917,000 | -1.7% |
| 12 | Dishwashing, clean/dry/fill machines | $7,457,935,000 | +18.9% |
| 13 | Trucks | $6,531,883,000 | +36% |
| 14 | Miscellaneous machinery | $6,104,258,000 | +6.6% |
| 15 | Phone devices including smartphones | $5,477,509,000 | +3% |
| 16 | Temperature-change machines | $5,404,286,000 | +22.7% |
| 17 | Cheese, curd | $5,354,429,000 | +14.6% |
| 18 | Cruise/cargo ships, barges | $5,134,227,000 | +3.5% |
| 19 | Liquid pumps and elevators | $5,133,462,000 | +7.5% |
| 20 | Insulated wire/cable | $5,032,290,000 | +7% |
| 21 | Electrical converters/power units | $4,903,055,000 | +22.9% |
| 22 | Unglazed ceramic flags, tiles, cubes | $4,784,008,000 | -13.3% |
| 23 | Miscellaneous iron or steel items | $4,726,300,000 | +7.3% |
| 24 | Air or vacuum pumps | $4,636,483,000 | +13.5% |
| 25 | Transmission shafts, gears, clutches | $4,576,569,000 | +6.5% |
| 26 | Seats (excluding barber/dentist chairs) | $4,478,741,000 | -0.5% |
| 27 | Women's clothing (not knit or crochet) | $4,470,202,000 | +5.9% |
| 28 | Pasta, couscous | $4,434,357,000 | +6.4% |
| 29 | Yachts, other pleasure/sports vessels | $4,347,740,000 | +19.5% |
| 30 | Jerseys, pullovers (knit or crochet) | $4,323,793,000 | +4.3% |
| 31 | Turbo-jets | $4,249,575,000 | +19.2% |
| 32 | Miscellaneous iron or steel tubes, pipes | $4,249,236,000 | -17.6% |
| 33 | Refrigerators, freezers | $4,246,073,000 | -0.2% |
| 34 | Bread, biscuits, cakes, pastries | $4,088,683,000 | +16.1% |
| 35 | Machinery parts | $3,825,163,000 | +7.3% |
| 36 | Spectacles, goggles | $3,824,683,000 | +8.8% |
| 37 | Gold (unwrought) | $3,649,439,000 | -3.5% |
| 38 | Miscellaneous plastic items | $3,637,683,000 | +1.8% |
| 39 | Lower-voltage switches, fuses | $3,496,925,000 | +7.6% |
| 40 | Centrifuges, filters and purifiers | $3,225,965,000 | +12.1% |
| 41 | Electro-medical equip (e.g. xrays) | $3,101,045,000 | +13.1% |
| 42 | Tomatoes (prepared/preserved) | $3,084,497,000 | +19.1% |
| 43 | Platinum (unwrought) | $3,069,053,000 | -35.7% |
| 44 | Electric water heaters, hair dryers | $2,986,220,000 | +2.2% |
| 45 | Beauty/makeup/skin care preparations | $2,930,659,000 | +22.1% |
| 46 | Lifting/loading machinery | $2,923,367,000 | +18.1% |
| 47 | Piston engine parts | $2,805,347,000 | +8.5% |
| 48 | Footwear (textile) | $2,744,877,000 | -0.4% |
| 49 | Plastic plates, sheets, film, tape, strips | $2,743,114,000 | -16% |
| 50 | Rubber/plastic article making machines | $2,717,511,000 | +17.7% |
| 51 | Tractors | $2,669,752,000 | +19.5% |
| 52 | Chocolate, other cocoa preparations | $2,659,014,000 | +9% |
| 53 | Men's suits, trousers (not knit or crochet) | $2,653,778,000 | +11.9% |
| 54 | Coffee | $2,586,201,000 | +9% |
| 55 | Electric motors, generators | $2,559,772,000 | +4.1% |
| 56 | Industrial preparation machinery | $2,554,928,000 | +17.7% |
| 57 | Fork-lift trucks | $2,526,138,000 | +35% |
| 58 | Motorcycles | $2,522,508,000 | +3.8% |
| 59 | Iron and steel screws, bolts, nuts, washers | $2,452,727,000 | +7.4% |
| 60 | Polyacetal/ether/carbonates | $2,433,021,000 | -10.6% |
| 61 | Air conditioners | $2,387,472,000 | +18.3% |
| 62 | Women's coats, jackets (not knit or crochet) | $2,369,272,000 | +12.5% |
| 63 | Other animal leather | $2,299,769,000 | -4.5% |
| 64 | Plastic packing goods, lids, caps | $2,293,384,000 | -0.9% |
| 65 | Plastic plates, sheets, film, tape, strips | $2,210,845,000 | -3% |
| 66 | Olive oil | $2,203,732,000 | +17.8% |
| 67 | Rubber tires (new) | $2,191,647,000 | +21.7% |
| 68 | Perfumes, toilet waters | $2,189,413,000 | +40.2% |
| 69 | Iron or steel pipe fittings | $2,146,831,000 | +6.9% |
| 70 | Hot-rolled iron or non-alloy steel products | $2,121,299,000 | -5.5% |
| 71 | Engines (diesel) | $2,117,707,000 | -8.7% |
| 72 | Other food preparations | $2,099,223,000 | +13.8% |
| 73 | T-shirts, vests (knit or crochet) | $2,095,205,000 | +0.6% |
| 74 | Flat-rolled stainless steel items | $2,072,445,000 | -28.8% |
| 75 | Lamps, lighting, illuminated signs | $2,054,969,000 | +3.8% |
| 76 | Tobacco-containing or substitute products | $2,047,254,000 | +39.4% |
| 77 | Plastic tubes, pipes, fittings | $2,033,411,000 | -3.8% |
| 78 | Miscellaneous iron and steel structures | $2,026,307,000 | +2% |
| 79 | Harvest/threshing machinery | $2,013,357,000 | +16.2% |
| 80 | Integrated circuits/microassemblies | $2,001,022,000 | +9.7% |
| 81 | Men's coats, jackets (not knit or crochet) | $1,993,096,000 | +11.5% |
| 82 | Flat-rolled iron or non-alloy steel products (plated/coated) | $1,942,692,000 | -20.5% |
| 83 | Miscellaneous aluminum items | $1,913,945,000 | -0.1% |
| 84 | Sauces, mixed condiments and seasonings | $1,904,598,000 | +25.1% |
| 85 | Computers, optical readers | $1,866,414,000 | -10.7% |
| 86 | Spray/dispersing mechanical appliances | $1,852,302,000 | +7.6% |
| 87 | Other organic cleaning preparations | $1,841,086,000 | +0.3% |
| 88 | Alcohol (including spirits, liqueurs) | $1,810,423,000 | +3.2% |
| 89 | Iron or steel tubes, pipes | $1,779,774,000 | +19.9% |
| 90 | Other machine parts, accessories | $1,778,872,000 | +10% |
| 91 | Monument/building stones, art | $1,737,844,000 | -2.1% |
| 92 | Spectacle/goggle frames, mountings | $1,729,865,000 | +13.7% |
| 93 | Base metal mountings, fittings | $1,724,463,000 | -7% |
| 94 | Other measuring/testing machines | $1,722,539,000 | +3.9% |
| 95 | Sort/screen/washing machinery | $1,717,151,000 | +7.3% |
| 96 | Machine-tool for metal | $1,656,501,000 | +33.8% |
| 97 | Paper containers, cellulose wadding | $1,577,839,000 | -12.8% |
| 98 | Footwear (rubber or plastic) | $1,570,370,000 | -7.4% |
| 99 | Heterocyclics, nucleic acids | $1,550,150,000 | +5.8% |
| 100 | Aluminum (unwrought) | $1,526,628,000 | -10% |
These 100 exported goods were worth a subtotal of US$427.9 billion or almost two-thirds (63.2%) of the value of all products exported from Italy during 2023.
Products Generating Best Trade Surpluses for Italy
Italy recorded an overall US$37.2 billion trade surplus in 2023, reversing a -$35.8 billion trade deficit one year earlier in 2022.
The following types of Italian product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. In a nutshell, net exports reflect the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Machinery including computers: US$58.3 billion (Up by 22.7% since 2022)
- Pharmaceuticals: $17.6 billion (Up by 35.9%)
- Articles of iron or steel: $14 billion (Up by 1.1%)
- Furniture, bedding, lighting, signs, prefabricated buildings: $10.9 billion (Up by 0.4%)
- Beverages, spirits, vinegar: $9.9 billion (Up by 3.6%)
- Ships, boats: $8.5 billion (Down by -4.1%)
- Leather/animal gut articles: $8.3 billion (Down by -2.4%)
- Clothing, accessories (not knit or crochet): $6.58 billion (Up by 13.1%)
- Cereal/milk preparations: $6.56 billion (Up by 8.1%)
- Footwear: $5.8 billion (Up by 2.4%)
Italy has highly positive net exports in the international trade of machinery–a product category that includes computers. In turn, these cashflows indicate Italy’s strong competitive advantages in producing machinery for international markets.
Products Causing Worst Trade Deficits for Italy
Below are exports from Italy that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Italy’s goods trail Italian importer spending on foreign products.
- Mineral fuels including oil: -US$65.6 billion (Down by -43.9% since 2022)
- Organic chemicals: -$17.8 billion (Up by 23.4%)
- Electrical machinery, equipment: -$11 billion (Down by -27.2%)
- Iron, steel: -$8.3 billion (Down by -23.6%)
- Vehicles: -$7.7 billion (Up by 416.9%)
- Fish: -$5.7 billion (Up by 0.1%)
- Cereals: -$4.5 billion (Down by -2.2%)
- Copper: -$4.4 billion (Down by -11.5%)
- Meat: -$4 billion (Up by 28%)
- Wood: -$3.6 billion (Down by -26.2%)
Italy has highly negative net exports and therefore deep international trade deficits for mineral fuels-related products notably crude oil, petroleum gas, electrical energy, coal and peat.
These cashflow deficiencies clearly indicate Italy’s competitive disadvantages in the international energy market, but also represent key opportunities for Italy to improve its position in the global economy through focused innovations especially in cleaner alternative energy sources.
Major Italian Export Companies
Thirty corporations rank among Forbes Global 2000. Below is a sample of the major Italian companies that Forbes included.
- Eni (oil, gas)
- Finmeccanica (aerospace)
- Parmalat (food processing)
- Pirelli & C (automotive parts)
- Prada (clothing, accessories)
- Prysmian (electrical equipment)
- Saras (oil, gas)
- Telecom Italia (telecommunications services)
According to global trade intelligence firm Zepol, the following smaller companies are also examples of Italian exporters.
- Acciaierie Valbruna (stainless steel bars, rods, doors, window frames)
- Chateau D AX (wood seats, chemicals)
- Emilceramica (ceramic tiles, building tiles)
In macroeconomic terms, Italy’s total exported goods represent 21.2% of its overall Gross Domestic Product for 2023 ($3.193 trillion valued in Purchasing Power Parity US dollars). That 21.2% for exports to overall GDP in PPP for 2023 compares to 21.7% one year earlier. Those percentages suggest a relatively decreasing reliance on products sold on international markets for Italy’s total economic performance, albeit based on a short timeframe.
Another key indicator of a country’s economic performance is its unemployment rate. Italy’s average unemployment rate was 7.9% in 2023, down from an average 8.117% for 2022 according to International Monetary Fund statistics.
Italy’s capital city is Rome.
See also Italy’s Top Trading Partners, Italy’s Top 10 Major Export Companies and Italy’s Top 10 Imports
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles, Central Intelligence Agency. Accessed on April 5, 2024
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 5, 2024
International Monetary Fund, Exchange Rates selected indicators (Domestic Currency per U.S. dollar, period average). Accessed on April 5, 2024
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on April 5, 2024
International Trade Centre, Trade Map. Accessed on April 5, 2024
Investopedia, Net Exports Definition. Accessed on April 5, 2024
Wikipedia, Gross domestic product. Accessed on April 5, 2024
Wikipedia, List of Companies of Italy. Accessed on April 5, 2024
Wikipedia, Purchasing power parity. Accessed on April 5, 2024
Zepol’s company summary highlights by country. Accessed on April 5, 2024