Latest reports released on November 2015 show that Italy has emerged from recession and grew by 3 percent. The recovery of Germany and France, the country’s largest export markets, also sounded a note of optimism. Here are the top five Italian industries that are having great success in exports.
Mechanical machinery and solutions
Italy’s engineering sector, covering mechanical machinery and equipment, is now the second largest in the EU and fast catching up with leading manufacturer Germany.The sector is dominated by small, family-owned businesses, with the average size of workforce being around 10 people, which is the lowest in Europe. There are over 50,000 manufacturing and engineering companies in Italy and while some claim the sector’s strength lies in the very personal and bespoke approach of SME, others claim that this is a risky strategy as old-fashioned method and family in a global market. Italy’s growing success in the sector is due to high quality of design and steady output of mid-range engineering products from small, flexible companies with their sites.
Metal products industry
Considering Italy has very few mineral resources and has to import most of its raw material, its metal industry is a large and important one in the nation’s economy, particularly regarding exports. Half of the country’s iron output comes from Tuscany. Italy has 60,000 businesses in the metal industry, the majority in the north. Iron, wood and metal are the main industries both talking about products and solutions.
Automotive and transport industry and equipment
Italy’s automotive industry is the country’s largest employer with an estimated 200,000 employees in 2014. The automobile sector is dominated by Fiat which ranks number ten in the world’s top motor vehicle manufacturing companies. The company posted its highest ever profits in the last quarter of 2008, defying the global downturn. As well as production and export of iconic luxury brands like Lamborghini, Ferrari and Maserati, the transport export sector also includes city cars, passenger vehicles, transport vehicles, trailers, and auto parts and accessories.The government’s introduction of incentives to trade in older cars for more energy efficient ones has resulted in new car registrations rising by 30% in October 2015 (we are talking about hybrid cars and electrical transports).
Chemical products and synthetic fibres
This is a crucial sector for Italy. With a turnover of 60 billion euros it is the fourth largest chemical producer in the EU. There are three thousand companies in the sector.The main concentration of Italy’s chemical business is in the north of the country: Lombardy accounts for almost half of that percentage and is the top region in Europe in terms of number of companies in the chemical industry and second largest region in terms of employees. Federchimica conducted a recent survey on why foreign companies appreciated doing business with the Italian chemical industry and the top factors included: the high quality know-how and equipment and the reliability of R&D.
Electrical and Electronic Apparatus
Italy’s electronics industry suffered a decline at the end of 2008 and the first quarter of 2009, but a recent report by the ISAE (Istituto di Studi e Analisi Economica) on how the industry itself felt about recovery showed that companies in the centre and south of Italy felt more optimistic about the future. This was probably because they were less affected by the international market while the larger companies in the north had been harder hit. Italy continues to invest in renewable energy and this, combined with the government’s aim to invest in the south of the country has led to some interesting developments. Northern Italian photovoltaic and solar power plant construction companies in Milan have a one billion euro contract with southern companies.