In 2020, Italy exported a total of $481B of goods.
The top exports of Italy are Medicaments ($26.7B), motor cars and other motor vehicles ($14.8B), motor vehicles; parts and accessories ($12.5B), petroleum oils and oils from bituminous minerals, not crude ($8.26B), and Human blood; animal blood for therapeutic, prophylactic or diagnostic uses; antisera, other… ($7.75B).
Italy’s main export partners are Germany, France, United States, Switzerland and United Kingdom.
In 2020, Italy imported a total of $429B of goods.
The top imports of Italy are crude petroleum oils ($25.5B), motor cars and other motor vehicles ($22.5B), medicaments ($18.7B), petroleum gases and other gaseous hydrocarbons ($10.6B) and gold ($9.17B),
Italy’s main import partners are Germany, France, China, Netherlands and Spain.
Letter of Credit Usage:
Letter of credit is a payment method in international trade. Because it is regarded as complicated, time consuming, expensive and rather stressful among exporters; its usage rate has been diminishing for decades.
But it is not possible to avoid letters of credit in all circumstances.
It is simply because either some countries force letter of credit as a compulsory payment method in full or part of their imports such as Bangladesh, Algeria, Egypt, Nepal, Ethiopia etc.; or else commercial conditions dictates so.
What We Offer:
What we offer to our customers is a top class, reliable and cost effective letter of credit consultancy and document preparation services.
All technical details of the export letter of credit transaction is handled by us.
You will save time and money.
- We Check the Letter of Credit:
Export letter of credit consultancy service starts with L/C check. Before shipment all potential troublesome points must be removed from the L/C.
If you want to check letter of credit by yourself, you can benefit from our related article above.
- We Prepare Draft Documents:
After shipment, we prepare letter of credit documents according to letter of credit terms and conditions.
Letter of credit documents change from one presentation to another, but you can find main document types from our related article above.
- Final Control of Documents:
Our customers send us back scanned version of all documents signed and stamped for final check before presentation them to the nominated or confirming bank.
After we make sure that documents are complying the presentation process of documents is completed.
You can find the most common discrepancies that definitely you must avoid under export letter of credit transactions.
- Presentation and Payment:
We will guide our customers until they receive their payments under the letters of credit.
You can understand different payment availabilities under letter of credit transactions from our related article above.
We have completed hundreds of presentation for the last 13 years and success rate is %100. All of our customers received their payments under our services.
Here are some of our works. You can click heading parts for more details of each transaction.
Note: We do not share any details of our customers even their names. Only harmless data shared below.
Total letter of credit amount was USD 680.004,52. Letter of credit confirmed by JP Morgan Chase Bank, N. A., New York, USA. Beneficiary located in U.S.A. and applicant resident in India.
Total letter of credit amount was EUR 803.400,84. Letter of credit confirmed by Bred Banque Populaire Paris France. Beneficiary located in U.K, applicant in Senegal and manufacturer in Turkey.
Total letter of credit amount was EUR 57.605,67. Documents have been accepted by the issuing bank on first presentation.
Total letter of credit amount was USD 46.620,00. All presentations have been accepted by the issuing bank on first presentation.
Total letter of credit amount was USD 617.750,00. Although the exporter contacted us very late, we managed to put things in order and completed the transaction without any problem for each side.
Total letter of credit amount was USD 20.345,00. Documents have been accepted by the issuing bank on first presentation.
Total letter of credit amount was USD 109.186,09. The beneficiary completed shipments via 3 partial shipments.