As Ukraine moves forward on its path to European Union membership, our new policy paper explores the evolving economic ties between Ukraine and Italy \u2014 a key EU partner. The analysis covers trade, services, migration, and investment, highlighting both challenges and opportunities for deeper integration.<\/p>\n
Italy ranks among Ukraine\u2019s top trade partners, though the relationship is asymmetric: Italy is Ukraine\u2019s 7th largest export market, while Ukraine accounts for less than 0.5% of Italy\u2019s trade. Ukraine\u2019s exports have shifted from industrial goods (iron, steel) to predominantly agricultural products, due to wartime disruptions. Italy remains an important industrial hub for Ukrainian companies like Metinvest, while also supplying Ukraine with tobacco, machinery, and defense goods.<\/p>\n
Trade in services remains limited, but Italy consistently shows a positive balance. Meanwhile, human mobility has intensified: by mid-2025, nearly 390,000 Ukrainians legally resided in Italy \u2014 the third-largest non-EU community. Ukrainian refugees show high employment and education rates. Italy is also a significant source of remittances, contributing over 10% of Ukraine\u2019s total inflow in 2024.<\/p>\n
While direct Italian investment in Ukraine has been modest during the war, longstanding business links remain strong. Ukrainian firms operate major industrial assets in Italy, and 79 Ukrainian companies are tied to Italian partners. The Italian bank Intesa Sanpaolo owns Pravex Bank in Ukraine, underlining deeper financial integration potential.<\/p>\n
Despite wartime setbacks, the foundation for strategic economic cooperation between Italy and Ukraine remains solid. Strengthening bilateral trade, investment, and people-to-people ties will be essential as Ukraine advances toward EU integration.<\/p>\n
This brief 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\u00a0 by\u00a0 Norway\u00a0 and\u00a0 Sweden.\u00a0 The\u00a0 contents\u00a0 of\u00a0 this\u00a0 publication\u00a0 are\u00a0 the\u00a0 sole\u00a0 responsibility of Centre for Economic Strategy and\u00a0 can\u00a0 in\u00a0 no\u00a0 way\u00a0 be\u00a0 taken\u00a0 to\u00a0 reflect\u00a0 the\u00a0 views the Government\u00a0 of\u00a0 Norway,\u00a0 the Government of Sweden and ISAR Ednannia.<\/em><\/p>\n