What is the value of US trade with Italy?
Updates published annually
$93.2 billion in imports and $44.4 billion in exports in 2024. That means that the US imported $48.8 billion more from Italy than we exported to it. Benefits of trade can include higher wages and job growth, a wider variety of products available at lower prices, increased productivity, and more efficient resource allocation.
$93.2B
Value of imports from Italy to the US (2024)
$44.4B
Value of exports from the US to Italy (2024)
Exports are goods and services the US sells to other countries. Imports are goods and services the US buys from other countries. Combining the value of imports and exports shows us how much trade happens between the US and other countries.
The Bureau of Economic Analysis (BEA) provides data for 71 of the US' trading partners (though not necessarily the top 71 trading partners). The partners they track accounted for 94.3% of total trade with the US in 2024.
BEA data ranks Italy as the US’ 16th top trading partner: In 2024, the US traded $137.6 billion in goods and services with Italy. Countries with similar trade values include Singapore ($145.7B) and Brazil ($127.4B).
In 2024, the US traded $137.6 billion in goods and services with Italy.
Total trade value (imports + exports) with the US (2024), by select countries
Another way to look at international trade is through trade balance. A nation that imports more than it exports, has a trade deficit. One that exports more than it imports has a trade surplus. Neither is inherently good or bad; trade balance is just a metric that shows the relationship between imports and exports.
The US has had a trade deficit with Italy every year from 1999 through 2024. The 2024 deficit was $48.76 billion, an increase from 2023's deficit of $47.75 billion.
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The trade deficit with Italy increased to $48.8B in 2024.
Annual trade balance with Italy, not adjusted for inflation
In 2024, 82.4% of imports from Italy to the US were goods. The largest category was consumer goods (goods and services purchased by individuals for personal use, like clothing and cellphones), accounting for $29.2 billion. The top three imports were consumer goods, capital goods (tools used for the production process, like machinery and equipment), and industrial supplies and materials (items used up in the production process, like oil, chemicals, and plastic). These categories accounted for $58.6 billion of total imports.
The other 17.6% were services, with travel being the largest service category. Travel (money leaving the US by Americans spending on things like lodging, meals, transportation, and entertainment abroad) accounted for $10.6 billion.
Consumer goods made up 31.3% of US imports from Italy in 2024.
US imports from Italy by category (2024)
In 2024, more US exports to Italy were goods — 72.9%. The largest export was consumer goods, which accounted for a value of $11.6 billion. The top three exports were consumer goods, industrial supplies and materials, and capital goods. These categories accounted for $28.3 billion of exports to Italy.
The other 27.1% were services, with travel being the largest service category. Travel (money entering the US from foreign visitors on expenses like lodging, meals, transportation, and entertainment) accounted for $3.77 billion.
Consumer goods made up 26.1% of US exports to Italy in 2024.
US exports to Italy by category (2024)
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Methodology
USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.
The analysis was generated with the help of AI and reviewed by USAFacts for accuracy.
