Italy-China Trade in 2023

In 2023, Beijing ranks among the top destinations for Italian exports globally, being the primary market in Asia and the second among non-European countries. According to Istat data expressed in euros, the total Italian exports to China in 2023 recorded an annual growth of 16.8 per cent, amounting to EUR 19.2 billion. Sector-wise, there was significant growth in pharmaceuticals (+192 per cent), textiles and clothing (+14 per cent), and machinery (+0.9 per cent); however, the chemicals sector (-11.4 per cent) and the transport equipment sector (-26.5 per cent) experienced declines.

The trade between Italy and China in 2023 was EUR 66.7 billion, showing a decrease (-10.1 per cent compared to 2022) due to a slowdown in Italian imports from China (-17.8 per cent) that has been ongoing since December 2022, with nearly all sectors of economic activity in negative territory.