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Italy

EDC Position-open all programs

EDC's Position

  • Key EDC Market
  • Targeted approach to business
  • Open under all programs, subject to regular approval criteria

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Country At A Glance

Flag of Italy
Map of Italy

Country Facts

Nominal GDP1,814.80 Billion USD
Population59.80 Million
Total Trade/GDP57.21%
CurrencyEuro (EUR)
Merchandise Imports from Canada2,276.91 Million CAD
Canadian direct investment539 Million CAD
Main importsMachinery & Equipment, Mineral Fuels, Chemicals, Food, Beverage & Tobacco

EDC in Italy

Canadian companies assisted309
International buyers insured805
Business volume592.05 Million CAD

Business Environment

Italy was Canada’s 6th largest merchandise export market in the EU in 2015 with Canadian export flows reaching CAD 2.3 bn. While trade and investment ties are strong, they could be impacted by Italy’s slow recovery since the Global Financial Crisis; real GDP growth for Italy for 2016 is projected to reach only 0.9%. Like many other European countries, Italy’s political landscape is rapidly changing, a process best demonstrated by recent victories by the Five Star Movement at the mayoral level in both Rome and Turin. Political uncertainly will continue to be a factor with a referendum on Senate reform planned to take place this November. In addition, Italy will likely face some short term economic headwinds due to volatility in the banking sector and the UK’s vote to leave the EU. EDC has historically seen most activity in a diversified range of sectors including Aerospace (Engines and Components) and Mining & Metals (Processing Equipment). In addition to these industries, EDC sees strong opportunities in the ICT and Infrastructure sectors. It should also be noted that Italy has an accommodative business environment, ranking 43rd out of 140 on the World Economic Forum’s recent Global Competitiveness Report making it an attractive location for investment.

Key Industries

  • Automotive & Heavy Truck
  • Construction & Infrastructure
  • Oil and Gas
  • Power
  • Telecom

How we can support your business

Through our representation in London, United Kingdom, we provide regional support to Canadian companies planning on or currently doing business in Italy. Our regional representatives have developed strategic relationships with major buyers in key sectors as well as an extensive network of local contacts in the market.

  • We are positioned to help Canadian companies through a range of financing and risk management services.
  • Learn more about our service offering.

Consult our interactive Country Risk Quarterly report.

 

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