Italy has a long-standing trade relationship with the UK. It is a major advanced economy with a Gross Domestic Product (GDP) of USD $2,148 billion in 2014. Italy is the second largest manufacturer in Europe behind Germany.
Bilateral trade in goods was valued at £25.7 billion in 2014, a 6.6% increase over 2013. UK goods exports to Italy totalled £8.9 billion in 2014, a 3.11% increase on 2013. This made Italy the 10th largest market for UK exports of goods and the 8th trade partner for imports of goods.
According to the Inward Investment Report 2014-15 published by the Department for International Trade (DIT), Italy continues to be one of the top source markets for FDI projects in the UK, with 91 projects, over 1,200 new jobs and over 940 safeguarded jobs in the 2014/15 financial year.
Italy has a highly diversified economy and can offer opportunities in many sectors.