In 2021, the trend of US-Italy trade registered a strong increase (+19.4%) after the decline of -14.4% in 2020, and +2.1% compared to 2019. Italy has therefore succeeded to gain a position among the commercial partners of the USA, passing from the 15th to 14th place, and a position also compared to European countries, passing from 7th to 6th place after Germany, United Kingdom, Holland, Ireland, and Switzerland.
In this context, in 2021 exports from Italy to the USA recorded strong growth (+23.4%) compared to the decline of -13.6% in 2020, higher than the world and European average, and gained a position, settling as the 12thsupplier country of the United States, and also gaining market share (2.2%), compared to 2.1% in 2020. 2021 data also marks a significant growth compared to pre-pandemic levels (+6, 5% vs. 2019).
The United States maintains its position as the 3rd destination market for our exports. In comparison of the trade balances with its main competitors, in 2021 Italy recorded trade balance surpluses for $ 39.3 billion with the United States. The total amount of Italian exports to the USA in 2021 accounted for 61 billion dollars. Italian leading sectors were in export towards the United States were Mechanics (+27.2%), Fashion and Accessories (+58%) and Food and Beverages (+18.2%).
For what concerns the performance of the other US import sectors from Italy in 2021, with the exception of the Chemicals and Pharmaceuticals (-0.3%) and Transportation (-2.5%), all sectors of the Made in Italy recorded growth compared to the previous year, such as Semi-finished products and components (+43.9%) and Furniture and Construction materials (+32%).
Source: Italian Trade Agency