Changes

====U.S.-Italy Economic Relations====

====U.S.-Italy Economic Relations====

The United States and Italy cooperate closely on major economic issues, including within the G-8. With a large population and a high per capita income, Italy was the United States' eleventh-largest trading partner in 2005, with total bilateral trade of $42.5 billion comprised of exports to Italy totaling $11.5 billion and imports from Italy worth $31.0 billion. The U.S. ran a $19.5 billion deficit with Italy in 2005, up from $17.4 billion in 2004. Part of this imbalance has been due to a strong dollar. Significant changes are occurring in the composition of this trade. Value-added products such as office machinery and aircraft are becoming important U.S. exports to Italy. U.S. foreign direct investment in Italy at the end of 2004 exceeded $33.3 billion.  

The United States and Italy cooperate closely on major economic issues, including within the G-8. With a large population and a high per capita income, Italy was the United States' twelfth-largest trading partner in 2008, with total bilateral trade of $51.6 billion comprised of exports to Italy totaling $15.5 billion and imports worth $36.1 billion. The U.S.'s $20.7 billion deficit with Italy in 2008 was slightly below the $20.9 billion deficit registered in 2007. Machinery and aircraft are becoming important U.S. exports. U.S. foreign direct investment in Italy at the end of 2007 exceeded $28.4 billion.

====Labor====

====Labor====