Italy - Market Overview
2020 Trade and Investment between Italy and Canada (C$ million)
Source: Statistics Canada
|Canadian Merchandise Exports to Italy||Canadian Merchandise Imports from Italy||Canadian Services Exports to Italy||Canadian Services Imports from Italy||Canadian Direct Investment in Italy||Italian Direct Investment in Canada|
Why Italy Matters
- Italy is the world’s eighth largest economy, the third largest EU economy and ranks 12th in the EU for per capita GDP. Source: Eurostat
- Two-way trade between Canada and Italy totalled C$13.1 billion in 2021, making Italy the eighth largest global merchandise-trading partner and Canada's second most important in the EU. Source: Statistics Canada
- Italy is the 11th largest EU source of direct investment into Canada; it is also the 21th largest EU destination for direct investment from Canada. Source: Statistics Canada
- In 2021, Canadian exports of goods totaled $2.6 billion, making Italy the 15th largest export market in the world and the seventh largest in Europe. Pharmaceuticals, cereals and machinery rank among the top three products Canada exported to Italy. Source: Statistics Canada
- Canadian imports of goods from Italy totaled $10.4 billion in 2021. Machinery, beverages and pharmaceutical products rank among the top three items. Source: Statistics Canada
- Canada is one of the Italian National Research Council’s four priority countries for collaboration worldwide.
How to export to Italy
Read the guide Export Guide to the EU.
Sectoral Opportunities in Italy:
The aerospace sector in Italy continues to offer a significant window of opportunity for Canada, especially given Canada and Italy are mature partners in this sector and there are many SMEs and large Canadian companies already successfully conducting business in this market. Canada and Italy are complimentary partners in innovation; as such there is significant scope for technology transfer, S&T cooperation and joint R&D between Canada and Italy.
Italy is Canada’s largest export market for agriculture products in Europe, representing approximately one third (34.5 percent) of total Canadian agriculture exports to the EU.
Canada continues to offer world leading technologies and products of interest in Europe’s high-tech economies. Opportunities in Italy can be found in biomass processing, industrial process in water treatment and air pollution control, energy storage and smart grid software, among others.
The increasing interest of Italian students in the Canadian education sector can be seen through the growing numbers of study permits for Italian students in Canada – up by 30% compared to the previous year. The overall number of Italian students studying in Canada (with a study permit) increased from 1,392 in 2015 to 1,790 in 2016, confirming Italy’s position as the EU country with the 4th most students in Canada (after France, UK, Germany). It is important to note that the number of study permits does not capture all those students travelling to Canada for less than 6 months.
Italy’s ICT sector is one of the largest in Europe. The Italian market provides opportunities in ICT infrastructure development and innovative solutions.
Italy is home to a number of Life Sciences companies ranging from state-of-the-art start-ups to large international organizations operating in the biotechnology, pharmaceutical, medical devices, and related technology sectors. In the last years, the constant growth of the Italian pharmaceutical exports confirms the capability of the specialized Italian industry as well as its R&D activities. In the areas of biotechnology, pharmaceutical and nutraceutical subsectors, there are opportunities for technology transfer and export sales, as well as on the medical technology sectors, where there are opportunities for export and investment.
For more information on trade and investment opportunities in Italy, contact your Trade Commission in Rome, Italy.
Please note that the Trade Commissioner Service in Rome also covers Albania (non-EU), Malta and San Marino (non-EU).
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