Italy - Export Development Canada (EDC)
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Italy

EDC Position-open all programs

EDC's Position

 

  • Targeted approach to business
  • Actively pursuing 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 GDP1,851.70 Billion USD
Population59.80 Million
Total Trade/GDP56.24%
CurrencyEuro (EUR)
Merchandise Imports from Canada2,340.09 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 2016 with Canadian export flows reaching CAD 2.3 bn. In the medium term, Canadian exports to Italy should get a boost with the coming into force of the Comprehensive Economic Trade Agreement (CETA). While trade and investment ties are strong, growth in the Italian economy continues to be held back by a lack of need strucutral reforms; real GDP growth for Italy for 2018 is projected to reach only 1%. 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 in 2016.  The loss of a referendum on Senate reform and the subsequent resignation of outgoing President, Matteo Renzi, have also served to increase political uncertainty. In addition to these politcal factors, weakness in the banking sector and the need to recapitalize some financial institutions has created economic headwinds. From a sectorial perspective, 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.

Key Industries

  • Automotive & Heavy Truck
  • Construction & Infrastructure
  • Oil and Gas
  • Power
  • Renewable Energy
  • 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.

 

EDC Representatives

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