Italy
Economy
Before 1945 most of the Italian population was engaged in some form
of agriculture. Since 1945, Italy industrialised rapidly, particularly
in manufacturing and engineering to the point where less than 5
per cent of the population is now working in agriculture. The majority
of these live in the southern part of Italy, which is poorer than
the centre and northern part of the country. The principal crops
are maize, wheat, sugar beet, tomatoes and grapes, most are used
for wine as Italy is a leading producer.
The tourism industry now enjoys a major position in the economy
alongside other service industries such as communications media
and financial services. Italy continues to rely heavily on the export
of manufactured goods, particularly of industrial machinery, aircraft,
vehicles, chemicals, electronics, textiles and clothing. Its particular
strengths are in advanced manufacturing techniques and systems,
high-quality design and precision engineering.
Italy’s historic trade performance has been all the more impressive
given the dearth of raw materials, considering the fact that all
of the country’s oil and many of its raw materials must be
imported.
The economy has been sluggish since the turn of the millennium with
annual growth less than 1 per cent. Inflation is just under 3 per
cent and unemployment has fallen slightly to 9 per cent.
In Europe, despite some doubts about the size of its budget deficit,
Italy was among the founding members of the Euro-zone during 1999.
The current Berlusconi government is trying to implement a programme
of tax cuts and labour reform which are intended to boost economic
performance but it has been hamstrung by political difficulties.
The bulk of Italy’s trade is conducted with its EU partners,
but also has important trade links with the Canada, USA, Russian
Federation, parts of Latin America, Libya and Saudi Arabia.
Business Etiquette
A knowledge of Italian is a distinct advantage. Prior appointments
and meeting times are essential. Visitors should remember that ministries
and most public offices close at 1345 hrs and, except by special
appointment, it is not possible to see officials in the afternoon.
Genoa, Milan and Turin form the industrial triangle of Italy and
Bologna, Florence, Padua, Rome, Verona and Vicenza also have important
business centres. In all the above cities, major trade fairs take
place throughout the year.
Office hours : Monday-Friday
0900-1700 hrs.
Commercial Information
The following organisation can offer advice:
Unione
Italiana delle Camere di Commercio, Industria, Artigianato e
Agricoltura (Italian Union of Chambers of Commerce, Industry, Crafts
and Agriculture)
Piazza Sallustio 21, 00187 Rome
telephone number: (06) 47041;
fax number: (06) 470 4240;
e-mail: segreteria.generale@unioncamere.it
Conferences/Conventions
There are many hotels with facilities. Further information can be
obtained from Italian
State Tourist Board (see Contacts section). |
