U.S. firms enjoy opportunities in sectors where new regulations or programs (often imposed or initiated at the EU level) are creating demand, as well as where U.S. products offer clear technological, design, or price advantages; or are new products/services with little or no domestic competition. Best prospects for U.S. exports to Italy include advanced manufacturing, airport and ground support equipment, automotive, biotechnology, cybersecurity, information and communications technology (ICT), design and construction, medical devices and technology, and natural gas and renewable energy.
The agricultural sector makes up a significant portion of U.S.-Italy trade. In 2022, U.S. agricultural exports to Italy were $1.13 billion and U.S. imports from Italy were $7.4 billion. Being a net agricultural importer, most raw materials and ingredients are imported, as Italy’s economic strength is in the processing and the manufacturing of goods, primarily in family-owned SMEs. Italy exports mainly consumer products to the United States, while the United States exports mostly bulk commodities to Italy.
Drawing on NRRP funds financed by the EU and national funds, Italy has plans to invest over €100 billion to modernize the country’s infrastructure network over the next ten years as part of its effort to kickstart the economy. Railways, ports, and airports are to be modernized, upgraded, or built new, with a focus on sustainable mobility, intermodality, and linking air and ship transport. Italy also announced measures to streamline public procurement to speed up government spending.
Italy hosts major trade shows that attract buyers from throughout Europe and beyond. The U.S. Commercial Service offers on-site support for U.S. exporters at most of the major international shows, or by request. The U.S. Department of Commerce actively promotes investment in the United States through our SelectUSA program. In Italy, we have extensively promoted opportunities to invest in the United States to Italian businesses, trade associations and multipliers. The Italian delegation to the SelectUSA Investment Summit in Washington, DC, has consistently been among the largest worldwide.