The first data published on Italian exports to the United States during 2025 point to a highly uneven situation across sectors, partly due to the impact of tariffs introduced by the U.S. federal government on foreign products.
According to an analysis by Italian Institute of Statistics, ISTAT , the aggregate figures show an overall 7.2% increase in Italian exports to the United States in 2025, which remain the second most important market for Italy, after Germany. However, this positive figure masks a more complex reality. The growth has been driven almost entirely by the sharp increase in pharmaceutical exports, which surged by 54%, reaching €15.7 billion and accounting for 22.7% of Italy’s total exports to the U.S.
When this pharmaceutical effect is excluded, the picture changes significantly. Italian exports would show an overall decline of 1.7%, equivalent to about €863 million less.
Among the sectors most affected are several pillars of Italian manufacturing. The automotive sector declined by 18.5%(–€655 million), agri-food exports fell by 4.5% (–€348 million), wood and furniture dropped by 8.2%, and machinery declined by 3.4%. By contrast, the fashion sector—including textiles, clothing, and leather goods—proved more resilient, posting a 2.4% increase and reaching €5.7 billion.
In 2025, there were also significant increases in exports of ships to the United States (+111%) and aircraft and related components (+290%), sectors characterized by high value-added products and longer production cycles.
Aggregate data from the United States Census Bureau, however, show a different figures and somewhat different picture. In 2025, U.S. exports to Italy rose to $43.7 billion (up from $32.4 billion in 2024), while U.S. imports from Italy declined slightly to $74.4 billion, compared to $76.3 billion the previous year. As a result, the trade surplus in Italy’s favor, while still substantial, narrowed from $44.0 billion in 2024 to $30.8 billion in 2025. These figures refer exclusively to trade in goods and are expressed in nominal U.S. dollars.
