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Exporting to Italy an Overview of the Italian Business Environment for Smes Exploring New Market Opportunities

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Exporting to Italy an Overview of the Italian Business Environment for Smes Exploring New Market Opportunities Exporting to Italy An overview of the Italian business environment For SMEs exploring new market opportunities Share this Ebook www.ibtpartners.com An IBT Partners Ebook Publication© Table of contents Who should be reading this 3 Please see our website for more information and help on international Italy: Overview 4 business development: Political snapshot 5 www.ibtpartners.com Economic snapshot 6 More Exporter’s Guides available Main sectors 7-9 including: Main sectors geographically 10 Exporting to Canada Exporting to Europe Main companies 11 Exporting to France Imports and exports 12 Exporting to Germany Exporting to Spain Import regulations 13 Exporting to Scandinavia Labelling and marking requirements 14 Exporting to the UK Foreign direct investment in Italy 15 Exporting to the USA Next steps 16 Produced by the IBT Partners About IBT Partners 17 Publications Team. Contact us for more information Special offer 18 at: [email protected] Useful links 19 Share this Ebook www.ibtpartners.com Exporting to Italy p.2 Who should be reading this… Whether you are already exporting or just setting out, this Ebook will help you discover more about Italy – the essential facts and figures to help determine next steps and ideal routes to market. E ase of doing business in Italy... The World Bank summarizes DOING BUSINESS DOING BUSINESS Doing Business 2013 data 2013 RANK 2012 RANK for Italy. The overall "Ease 73 75 of Doing Business" in Italy (out of 185 economies) and the rankings by each topic. http://www.doingbusiness. org/data/exploreeconomies /italy Share this Ebook www.ibtpartners.com Exporting to Italy p.3 Italy: Overview • 9th largest economy in the world • 4th largest consumer market in Europe • 6th largest exporter of goods in the world • Healthcare system ranked 2nd out of 180 economies (WHO) • Contains 2 independent states: the Republic of San Marino (25 miles2) and the Vatican City (just 108.7 acres) • Over 50 million tourists a year - huge driver of the economy and large contributor to national income • Family-owned SMEs account for 92% of all Italian companies, responsible for 70% of Italian GDP GDP (US$) Head of State Capital Government $2.19tr President Giorgio Rome Type Napolitano (since Republic 2006) Head of Government Per Capita GDP Prime Minister Population at PPP (US$) Land Area Enrico Letta 61,017,000 $32,350 294,020 km2 (since 2013) Share this Ebook www.ibtpartners.com Exporting to Italy p.4 Political snapshot Government Military spending In April 2013, President Napolitano was elected Italy’s military spending is significantly less than for a second seven-year term , despite being that of France or the UK. Nevertheless, in 2010 87-years-old. His election followed five votes in Italian military spending ranked 10th in the world which no candidate was selected. and Italy is a major contributor to international and UN missions. Following his election, Enrico Letta of the center-left Democratic Party was selected as The Five Star Movement Italy’s new Prime Minister. A grand coalition with The Five Star Movement, founded in 2009 by Silvio Berlusconi’s center-right alliance followed. comedian Beppe Grillo, gained momentum in the International relations most recent parliamentary elections, finishing in As a geo-political ‘middle power’ Italian executives 3rd place and gaining 25% of the public vote. In have endeavoured to win recognition at the table of the 2013 municipal elections however, they fared the Great Powers. The search for legitimization poorly. through international coalitions and alliances has been the cornerstone of Italy’s choices on the Commentators noted its popularity stemmed international stage. from a reaction against the scandals surrounding Italy’s leading parties. This was recently exemplified by Italy’s decision to bide by NATO’s 2011 resolutions on Libya. The Five Star Movement promotes direct democracy and greater political transparency. www.ibtpartners.com Exporting to Italy p.5 Economic snapshot Economy Growth rate Italy introduced a deficit correction of €12Bn The engineering sector and the manufacture of in 2011, and Italian public debt is expected high-quality consumer goods are key drivers of the to decline from 119% in 2010 to 116.3% in Italian economy. Both sectors are dominated by small 2014. and medium-sized enterprises, many of them family owned. There is concern over Italy's birth rate - one of the lowest in Europe - and the economic Family-owned SMEs account for 92% of all Italian implications of an ageing population which companies, responsible for 70% of Italian GDP. could further stunt Italy’s economic growth. Wealth distribution Annual GDP Growth Rate (%) 3.0 Industrial activity is concentrated in 2.0 the north, from Turin in the west, 1.0 through Milan, to Venice in the 0.0 east. This is one of the most -1.0 industrialized and prosperous areas -2.0 in Europe and accounts for more -3.0 -4.0 than 50% of Italian national income -5.0 -6.0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Share this Ebook % 0.5 0.0 1.7 0.9 2.2 1.7 -1.2 -5.5 1.8 0.4 -2.3 -1.2 -0.2 1.1 1.0 0.6 Source: International Strategic Analysis (ISA) Economic Forecasts www.ibtpartners.com Exporting to Italy p.6 Main sectors Apparel – design and luxury goods • The apparel retail industry reached $66.1Bn in 2012 • Italy currently accounts for 7.4% of the Engineering and construction European apparel market • Italy ranks 3rd in the world for its luxury • Italy accounts for nearly 10% of the goods market European construction and engineering • Apparel and non-apparel manufacturing is industry in value terms forecast to reach $12Bn by 2017 • The sector accounts for roughly 40% of • The industry is lead by companies such as Italy’s total industrial production the Benetton Group (2011 revenue of • The sector is dominated by family-owned $2.8Bn) with a cluster of world renown businesses brands (Fendi, Ferragamo…) • International companies such as Balfour • Italy also boasts a vibrant artisan and Beatty and have major presences craftsman culture, reflected in numerous • The Italian civil engineering sector is worth specialised high quality design and apparel $24.7Bn, while the construction and manufacturers engineering market is $63.5Bn • The medical equipment engineering has attracted over $2.5Bn of M+A investment in the last 5 years Share this Ebook www.ibtpartners.com Exporting to Italy p.7 Main sectors Information and Communication Technology Logistics • Italy is Europe’s 4th largest ICT market • Italy’s prime geographic location in the centre • ICT sector value reached €68.1bn in 2012 of the Mediterranean makes it a natural logistics • Italy has one of the most advanced mobile hub for the region communications markets in the world • Over the last decade, 462 logistics companies • 97,000 active IT companies - the UK being have invested in Italy the only country with a greater number • Italy accounts for 9.5% of the European freight • Telecom Italia is the largest company in the transportation services industry by value sector, recording revenues of $41.7Bn in 2011 • The Italian road freight segment, buoyed by traffic from the southern Mediterranean up to Life Sciences central Europe, is one of the largest with total • Italy has the 3rd largest life sciences industry revenues of $55.2Bn in 2012 in Europe • 375 biotech companies • Overall turnover of $31.2Bn • In 2012, R&D spend of Italian biotech companies reached $2.41Bn • Italian biotech have attracted considerable international attention and the sector has seen a high level of acquisitions Share this Ebook www.ibtpartners.com Exporting to Italy p.8 Main sectors Renewable Energy Sources (RES) • Italy accounts for 16% of the European Food and wine renewable energy market and was valued at over $23Bn in 2011 • The Italian food retail • Italy has one of the highest energy import industry was valued at $196.7Bn in 2012 dependence rates of the EU. Lowering this and • Accounts for 10.2% of the European increasing renewables is at the heart of Italy’s food retail industry value energy policy • Italy accounts for 21.2% of the • Renewable incentives rank amongst the European ice cream value (valued at highest subsidies for RES in the world $5Bn) • The sector attracts considerable foreign • The Italian wine investment, with the most number of deals in market reached $38Bn in 2012 Europe, as it is perceived as having strong long Tourism Industry term growth prospects • Italy’s investment in renewable energy is the • $174Bn revenue 4th largest of all G20 countries • Contributes +8.6% of GDP • Southern Italy has some of the world’s • Employs over 1.1 million qualified workers largest solar PV parks due to its high level of • Over 50 million tourists travel in Italy every year utilization at +1,500 hours a year • An estimated 153,000 accommodation facilities • The largest company in the sector, Enel across Italy Green, recorded $1.7Bn of revenue in 2011 • International hotel chains make up 28% of hotels in Italy www.ibtpartners.com Exporting to Italy p.9 Main sectors geographically The north east of Italy is Milan is the business home to Europe’s nerve centre and home largest outdoor apparel to many high tech and industries, intensely telcoms, including concentrated between industry leaders Telecom Venice and the Austrian Italia Border Turin is the historic Rome and the centre for heavy surrounding area is the industry, dominated by second largest economic the Fiat Group zone after Northern Industrial activity is Italy concentrated in the north, from Turin to The south and notablyafter Venice. This is one of the the ports are the most industrialized and gateway to the Southern prosperous areas in Mediterranean and the Europe and accounts for main thoroughfare for more than 50% of Italian freight to central Europe national income.
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