Some products, such as agricultural products and products that have an impact on health, safety or environmental impact, may be subject to certain import restrictions and/or rules. In these cases, it may be necessary to purchase import certificates and additional documents before being exported to Italy. For more information on import certificates, quotas and restricted products, please contact Italian customs. Japan is Italy`s sixth largest trading partner outside the EU. Multilateral and bilateral agreements with many countries (Italy is not one of the agreements to which the EU is prohibited) Since the sovereign debt crisis in 2010 and after several years of trade deficit, Italy has changed direction and recorded positive trade balances in recent years. According to WTO data, the country exported $546.6 billion in goods in 2018 (up 8% per year), while imports grew more rapidly (up 10.6%), for a total of $500.7 billion. In the same year, Italy exported services worth a total of $120.8 billion, while its services imports represented a total value of $122.8 billion. The trade surplus in goods and services amounted to about 2.5% of GDP (World Bank). Italy and Japan already have close trade relations.
The EU-Japan trade agreement will give it a big boost. Italy`s main trading partners are Germany (12.6%), France (10.4%), the United States (9%), Spain (5.2%) and the United Kingdom (5.1%), while China and Russia are the countries with better growth. The main countries of origin of Italian imports are Germany (16.4%), France (8.7%), China (7.3%) and the Netherlands (5.3%) (Comtrade data). Italy has a great commercial tradition. Deep in the Mediterranean, the country is positioned and strengthens its commercial potential not only with Eastern Europe, but also with North Africa and the Middle East. In the past, Italy has had active relations with Eastern European countries, Libya and the Palestinian peoples. These ties were preserved even during periods of great political tension, such as during the Cold War and the Persian Gulf War in 1991. Membership of the EEC from 1957 further increased Italy`s trade potential, which led to rapid economic growth. However, from that date on, the economy was faced with an increasing trade deficit. Between 1985 and 1989, the United States was the only trading partner for which Italy had no deficit.
Italy again posted a positive balance sheet in the mid-1990s. Trade with other EU Member States accounts for more than half of Italy`s transactions. Other important trading partners are the United States, Russia, China and members of the Organization of the Petroleum Exporting Countries (OPEC). Increased trade is creating more Australian jobs and providing more opportunities for Australian businesses.