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Pair · Q2 2026 · Aug 2025–Jul 2026

Goods, bank claims, portfolio holdings and direct investment between United States and Italy, each channel at its own period. Left, United States to Italy; right, Italy to United States.

Finance to trade

positions ÷ goods, both directions
Finance to trade5.2×positions ÷ goods, both directions
Financial positions, both directions612USD bn
Goods, both directions119USD bn

Bank, and positions in both directions over goods trade in both directions; financial centres show very high ratios because they hold securities for others.

Positions at the periods above, goods in the 12-month window. Calculations: datasteg.

The pair through time

2006–Jul 2026

Each channel at its own period on one time axis: goods every month (12-month windows), bank claims every quarter, portfolio holdings every half year, direct investment every year, and below them the finance-to-trade ratio by quarter. Solid lines are reported flows, dashed stretches estimated; the band between a goods line and its other report is the mirror gap where both reports exist. A month with no goods line is one where the pair fell below trade-flow’s 1,500 largest flows.

SinceUnited States → ItalyItaly → United Statesother report (mirror gap)estimated
Goods · 12-month windows, monthly · USD bnJul 2026 · 44.2 / 74.5050100Bank claims · quarterly · USD bnQ2 2026 · 3.4 / 37.5050100Portfolio holdings · half-yearly · USD bnDec 2025 · 255 / 2510250500Direct investment · annual · USD bn2024 · 15.6 / 48.502550Finance to trade · quarterly, positions both ways ÷ goods both waysQ2 2026 · 5.1×0.0×5.0×10×20062008201020122014201620182020202220242026
Sources

The ratio starts in 2009, when the direct-investment survey begins: bank claims at the quarter, portfolio and direct investment at their latest period at or before it, goods in the 12 months to the quarter end. Calculations: datasteg global-network.

Goods United States → Italy

Aug 2025–Jul 2026

exports of United States to Italy, 12 months

Exports, 12 months44.2USD bnreported
0.94importer’s report ÷ exporter’s
Sources

Window Aug 2025–Jul 2026. Importer-reported where filed, partner-reported or estimated otherwise (tagged). Mirror ratio: the importer’s report over the exporter’s.

Goods Italy → United States

Aug 2025–Jul 2026

exports of Italy to United States, 12 months

Exports, 12 months74.5USD bnreported ≠ the two reports of this flow diverge from their usual ratio ()
0.91importer’s report ÷ exporter’s
Sources

Window Aug 2025–Jul 2026. Importer-reported where filed, partner-reported or estimated otherwise (tagged). Mirror ratio: the importer’s report over the exporter’s.

United States → Italy

Q2 2026

loans and deposits of banks in United States on residents of Italy

Position3.4USD bn
Flow in the quarter−0.6USD bnas published by the BIS
Sources

Loans and deposits, all sectors and currencies, residence basis, Q2 2026. Flow as published by the BIS.

Italy → United States

Q2 2026

loans and deposits of banks in Italy on residents of United States

Position37.5USD bn
Flow in the quarter+1.3USD bnas published by the BIS
Sources

Loans and deposits, all sectors and currencies, residence basis, Q2 2026. Flow as published by the BIS.

United States → Italy

Q4 2025

securities issued in Italy held by investors in United States

Total255USD bn
Equity194USD bn
Debt securities61.4USD bn
Sources

Holder to issuer, Q4 2025.

Italy → United States

Q4 2025

securities issued in United States held by investors in Italy

Total251USD bn
Equity124USD bn
Debt securities127USD bn
Sources

Holder to issuer, Q4 2025.

United States → Italy

2024

position of investors in United States in Italy

Position15.6USD bn
Reportthe host’s
Sources

Investor to host, 2024; one report per pair, the host’s first.

Italy → United States

2024

position of investors in Italy in United States

Position48.5USD bn
Reportthe host’s
Sources

Investor to host, 2024; one report per pair, the host’s first.