Italy Business
• Main imports: Engineering products, chemicals, transport equipment, energy products and minerals.
• Main exports: Engineering products, textiles and clothing, production machinery, motor vehicles and transport equipment.
• Main trade partners: Germany, France, USA, Spain and UK.
Economy
As with most western European economies, the tourism industry now enjoys a major position alongside other service industries such as financial services. Italy continues to rely heavily on the export of manufactured goods. Its particular strengths are in advanced manufacturing techniques and systems, high-quality design and precision engineering.
Most industrial raw materials and more than 75% of energy requirements are imported. The economy has been sluggish since 2000 with growth in 2007 less than 2% and expected to drop further. Inflation in 2007 was just under 2%; unemployment is just under 7%.
In Europe, despite some doubts about the size of its growing budget deficit (public debt is 105% of GDP), Italy was among the founding members of the Euro-zone in 1999. The current government has enacted some reforms to improve competiveness and growth.
Business Etiquette
Office hours: Mon-Fri 0900-1700.
Conferences & Conventions
Business Contacts
Piazza Sallustio 21, 00187 Rome, Italy
Tel: (06) 47041.
Website: www.unioncamere.it
Istituto Nazionale per il Commercio Estero (National Institute for Foreign Trade) Via Liszt 21, 00144 Rome, Italy
Tel: (06) 59921.
Website: www.ice.gov.it
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