With a population of some 58.1 million, Italy exported US$32.7 billion worth of merchandise to the United States in 2006. That represents a 5.3% increase from 2005 and a 34.8% gain over the past 4 years.
Italian imports from the U.S. rose 9% to $12.6 billion in 2006, up 25% since 2002.
In terms of the merchandise flow between the two countries, America’s trade deficit with Italy was $20.1 billion in 2006, up 42% from 2002. The U.S. trade deficit with Italy increased 3.1% in 2006 – down from the 12.1% deficit increase in 2005 from the year earlier.
Italian Exports to U.S.
Of the $32.7 billion in American imports from Italy in 2006, the following product categories had the highest values.
- Medicinal, dental and pharmaceutical preparations …US$1.78 billion (5.5% of Italy to U.S. exports, down 3.5% from 2005)
- Industrial machines … $1.76 billion (5.4%, up 11%)
- Other petroleum products … $1.4 billion (4.3%, up 28.9%)
- Miscellaneous household goods (e.g. clocks) … $1.3 billion (4%, up 17.2%)
- Wine & related products … $1.2 billion (3.7%, up 9.2%)
- Footwear … $1.1 billion (3.3%, down 2.2%)
- Jewellery … $959.5 million (2.9%, down 1.1%)
- Household furniture … $915.6 million (2.8%, down 14.6%)
- Industrial engines, pumps, generators … $774.8 million (2.4%, up 1.9%)
- Stone, sand, cement, lime … $681.4 million (2.1%, up 1.8%)
Fastest-Growing Italian Exports to U.S.
Below are American imports from Italy in 2006 with the highest percentage sales increases from 2005.
- Non-ferrous metals … US$88.6 million (up 145.9% from 2005)
- Nickel … $66.4 million (up 126.2%)
- Fuel oil … $232.4 million (up 95.3%)
- Railway transportation equipment … $55.7 million (up 90.2%)
- Oil field platforms & equipment … $217 million (up 76%)
Italian Imports from U.S.
Of the $12.6 billion in American exports to Italy in 2006, the following product categories had the highest values.
- Pharmaceutical preparations … US$1.1 billion (8.4% of Italian imports from U.S., down 17.7% from 2005)
- Precious metals … $769.3 million (6.1%, up 44.6%)
- Medicinal equipment … $600.9 million (4.8%, up 12.3%)
- Industrial engines … $469.7 million (3.7%, up 12.1%)
- Pulpwood … $447.8 million (3.6%, up 4.2%)
- Civilian aircraft parts … $424.8 million (3.4%, up 27.2%)
- Semiconductors … $351.1 million (2.8%, up 40.1%)
- Industrial machines … $331.1 million (2.6%, up 8.6%)
- Metallurgical grade coal … $312.3 million (2.5%, up 64.4%)
- Organic chemicals … $287.4 million (2.3%, up 12.6%)
Fastest-Growing Italian Imports from U.S.
Below are American exports to Italy in 2006 with the highest percentage sales increases from 2005.
- Fuel oil … US$150 million (up 1127% from 2005)
- Unmanufactured agricultural products … $40.4 million (up 262%)
- Primary synthetic rubber … $36.5 million (up 72%)
- Metallurgical grade coal … $312.3 million (up 64.4%)
- Aluminum … $31.8 million (up 61.7%)
See also Italy Trade Statistics 2009.
Sources: This analysis is based on latest statistics from the US Census Bureau - Foreign Trade Statistics and CIA World Factbook as of the date of article publication.
Daniel Workman - A senior business and finance writer who also does French translations, notably international trade and insurance materials.
Comments