Italy Economic Statistics

Importing from Italy

Italy has a highly skilled, highly educated workforce which has propelled the country’s reputation for producing high quality, superior brands in a variety of manufactured products. Engineering products, clothing and textiles, motor vehicles and production machinery all contribute to about $500 billion in annual exports.

Packaged medicines are the country’s top export, estimated at $22 billion followed by refined petroleum ($19 billion), vehicle parts ($14 billion) and cars ($10 billion). Top export destinations are Germany, France, the United States, the United Kingdom and Switzerland.

Importing from Italy: What is trade finance?

Stock finance is a revolving facility which alternative financiers offer – it enables organizations to buy stock supplies and can help reduce the pressure from cash management.

Generally, an alternative financier will fund all of the cost of the goods, including charges (e.g. bank charges).

Trade finance offers upsides over more traditional bank finance such as asset finance or loans. Trade finance provides quick funding without affecting existing bank relationships.

How does it work?
If you’re an SME importing or exporting goods internationally, then a trade finance facility would allow you to fund this through offering a letter of credit or some form of cash advance.

I’m looking to import from Italy, how can Trade Finance Global help, and how does it work?
If you’re looking to import products from other international markets, you may need import finance, which is an agreement between yourself (the importer) and the foreign exporter. An alternative finance bank would act as the intermediary, paying the foreign exporter on your behalf until you get the products and have then sold them to your end debtor. Repaying the lender then occurs over an agreed period.

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Speak to our trade finance team