Italy and Germany Historic and Economic Relations
Italy and Germany share a history of close relations built on excellent foundations. They also share a similar historical development (both countries are generally labelled as "young nations").
Italian and German Trade
Italy and Germany Historic and Economic Relations
Italy and Germany share a history of close relations built on excellent foundations. They also share a similar historical development (both countries are generally labelled as "young nations"). Italy and Germany hold a strategic position at the heart of Europe that, along with their membership of NATO and of the European Union, encouraged a large volume of trade and business contacts.
Both governments have strived to develop common positions on European policy by focusing on crucial issues , such as the strengthening of the European Union, the development of a common European migration policy or a European neighbourhood policy, and the enlargement of the EU.
Italy and Germany as Trading Partners
Germany and Italy have historically entertained very close economic relations. Germany is Italy's most important trading partner by far.
Italy is however the fifth importer of German goods and sixth supplier of goods to Germany. The total bilateral trade worth in 2015 amounted to more than EUR 107.7 billion, with a trade surplus of nearly EUR 5.8 billion in Germany's favour.
According to 2015 German Federal Bank figures, German foreign direct investment in Italy amounted to approximately EUR 32 billion in 2013 and was mainly directed to the north of the country. Conversely, always according to German Federal Bank figures, Italian direct investment in Germany amounted to approximately EUR 35 billion.
Italian Exports to Germany
In 2015, Italy's principal exports to Germany were machinery and equipment, followed by textile products and chemical, pharmaceutical and botanical products.
|
Product |
Percentage of total trade |
Total value |
|
Road Transport , Transport Equipment |
6% |
$16 Billion |
|
Office, Telecom, Electrical Equipment |
5% |
$10,9 Billion |
|
Chemical Products |
7% |
$9,9 Billion |
|
Industrial Machinery |
5% |
$9,6 Billion |
It is estimated that, by 2017, Italian exports to Germany will increase by 5%.
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