EU-partnerships

Italy

Research | 23 January 2026

7th

IT is UA’s 7th largest export destination

1/10

UA diaspora 1/10 of the total number of the non-EU citizens in IT

6th

And 6th largest source of imported goods

0.5%

UA accounts for less than 0.5% of IT’s trade in goods

IT’s Intesa Sanpaolo operates in UA through Pravex Bank, one of the largest European banks with a long-standing presence in the UA financial sector

Metinvest operates several metallurgical plants in Italy, which form part of its European production chain

Centre for Economic Strategy (CES), an independent Ukrainian think tank that analyzes key public policies and promotes support for reforms.

With donor support, CES has launched a series of studies on trade relations between Ukraine and the European Union countries.

Free movements of goods and services

Pre-war: UA exported steel, iron, and pipes (mainly for Metinvest’s Italian plants), now it’s mainly agri

Top 10

IT is among the top 10 UA service trade partners

IT sends 9% of its defense exports to UA

0.5%

UA’s occupies less than 0.5% of IT’s extra-EU imports of services and is not even in the top 40 partners list

Around 40% of IT’s imported corn comes from UA and plays a key role in IT’s livestock sector

Trade balance UA-IT 2024

Free movement of persons and capital

Pre war:

223k

Ukrainians in IT — EU’s 2nd-largest community

Post-2022:

+167k

with temporary protection

~390k

legally in IT (May 2025)

~ 66% employed; ~80% higher education; ~50% with good living conditions; mostly women in care services

UA FDI in IT: Metinvest’s two steel plants + Vesco Clay Italy
IT FDI in UA: €30 million during the full-scale invasion (<2% of total FDI); 79 UA companies with IT ownership (≈€1 billion in revenues); Pravex Bank owned by Intesa Sanpaolo

Remittances to UA, 2024

Tighter co-operation potential

Tighter co-operation in defense (e.g. radar systems, drone / aerospace tech, electronics , leading Italian player — Leonardo), government guarantees backed by the EU instruments might help.
Given large corn exports — expanding JV in fodder production.
Italy can act as a gateway for green Ukrainian steel to the EU.

Interesting fact

You can also read about Ukraine’s economic ties with Italy in a publication on the website of the Italian Institute for International Political Studies (ISPI).

The brochure is produced by Centre for Economic Strategy with the support of the Askold and Dir Fund as a part of the the Strong Civil Society of Ukraine — a Driver towards Reforms and Democracy project, implemented by ISAR Ednannia, funded by Norway and Sweden. The contents of this publication are the sole responsibility of Centre for Economic Strategy and can in no way be taken to reflect the views the Government of Norway, the Government of Sweden and ISAR Ednannia.