(Adnkronos) – The Italian Embassy in Paris presents the 4th edition 2026 of the economic report on investments, partnerships, and trade between Italy and France, prepared by the Embassy’s economic office. The new edition of the report confirms the image of two strongly linked and integrated industrial and productive systems, characterized by significant commercial exchange and important reciprocal investments across the main sectors of excellence of the two countries’ economies.
In addition to the main data related to Italo-French economic relations, the report offers an updated overview of the main Italian industrial and financial presences in France and French presences in Italy. An overview that is periodically updated, also based on reports from economic operators themselves.
“I am very proud of the publication of the embassy’s report, now in its 4th edition. I believe that the data it captures, all growing, very clearly illustrate the extraordinary intensity and vitality of relations between Italy and France – declared the Italian Ambassador to France Emanuela D’Alessandro – France confirms itself as our second commercial partner, with trade having risen to 112 billion euros in 2025 and the leading foreign investor in Italy by portfolio.” “The overall picture that emerges, also thanks to significant Italian investments in France, is that of two deeply complementary and integrated economic and industrial systems,” continued the ambassador, who also indicated how “in this context of exceptional strategic value for our economy, the entire ‘Sistema Italia’ in France, in perfect adherence to the priorities and lines of action also stemming from the recent important reform of the Farnesina, is at the forefront to assist Italian companies, promote investments, and fully enhance Made in Italy and the excellences of our country.”
With a total trade of over 112 billion euros in 2025 (an increase of 6% compared to the previous year), France has confirmed itself as Italy’s second commercial partner. Italian exports to Paris, amounting to approximately 65 billion euros (an increase of over 5% compared to 2024), mainly concerned textile products and clothing, machinery and equipment, motor vehicles, food products, plastics, metallurgy, pharmaceutical and chemical-medicinal products.
For its part, Italy imported mainly electricity, chemical products, medicines, steel products, motor vehicles, food products, pharmaceutical products, and clothing items from France, for a total value of approximately 47 billion euros, an increase of 7% compared to the previous year. In 2025, Italy’s trade surplus with France amounted to approximately 17.6 billion euros, substantially in line with 2024.
Regarding investments, France confirmed itself as the leading foreign investor in Italy with a portfolio of approximately 100 billion euros in 2024, accounting for about 21% of total foreign direct investments in our country. With 2,514 French-controlled companies active in Italy employing approximately 340,000 people and generating over 90 billion euros in annual turnover, France represents a crucial and strategic partner for the growth of the Italian economic and productive system.
With a portfolio of 62.4 billion euros in 2024, Italy is the sixth largest foreign investor in France, behind the United States, Germany, Switzerland, the United Kingdom, and Luxembourg. In France, there are 1,918 Italian-controlled companies, employing over 95,000 workers and generating approximately 61 billion euros in annual turnover. According to a report published by KPMG, between 2019 and 2023, France represented the primary destination country for Italian acquisitions abroad, with 134 deals concluded, for a value of approximately 35 billion. The 2025 report highlights how investments between Italy and France are not limited to large financial operations but concern strategic productive sectors, from manufacturing to innovation, from food to fashion.
Among French operations in Italy, the increase in Crédit Agricole’s stake in Banco BPM to 20% is noteworthy, further consolidating the French presence in the Italian banking system. In the insurance sector, AXA acquired a 51% majority stake in Prima Assicurazioni, an Italian group specializing in direct insurance, with an investment of approximately 500 million euros. Another significant operation was the sale of Carrefour Italia to the Italian group NewPrinces, for approximately 1 billion euros, which represents a significant restructuring of the French portfolio in our country.
Italian investments in France also confirm the complementarity of the two economic systems. Ferrero has allocated approximately 95 million euros to upgrade its Normandy plant, the largest Nutella factory in the world, to modernize production lines and increase logistics capacity. Iveco has invested approximately 100 million euros to develop the production of electric buses at several French sites, in line with its sustainable mobility strategy. Poma has built a new 20 million euro logistics platform in Voreppe, strengthening its industrial presence, while Holding Moda has launched a center dedicated to creative fashion in Aubervilliers, intended to host showrooms, prototyping activities, and research and development in the high-end textile and apparel sector. It is worth noting that, during 2024, other Italian operations in France had included strategic acquisitions such as those of Hitachi Rail by Mermec, Ascometal by Marcegaglia, and Courvoisier by Campari. Similarly, French companies have continued to invest in Italy, with significant operations such as the acquisition of Unieuro by Fnac Darty and Triveneta Cavi by Nexans.
