Italy’s economic performance has improved so far in 2015 with the GDP returned to growth after 3 years.
Industrial production increased by 0.7% in the first 7 months over the same period of 2014. There has also been an improvement in private consumption.
Italy is among the strongest performers and appears to be staging strong recovery. Italy also consolidated all its best rankings in the International Trade Performance Index in 2014: out of 14 sectors, Italy was found to be the most competitive in the world in three sectors and ranking second in five.
Italy confirmed its position as the second best performing country, only after Germany. The three sectors where Italy is once again the most competitive are: textile, apparel and leather. The five sectors in which Italy ranked second: basic manufactures (metal and metal products, etc.), non-electronic mechanics, electric appliances, means of transport and diverse manufactures (i.e. eyewear and plastic items). What’s more, Italy ranked sixth in processed food. It is among the six leading manufacturing countries in the world, second in Europe.
Good performance in the traditional ‘Made in Italy’ sectors remains unchanged, thanks to re-conversion into high value-added segments of the market. At the same time, the Italian economy has reinforced important specializations such as machinery – now the most important sector in terms of trade balance surplus – means of transport other than cars, chemicals and pharmaceuticals and high technology.
The future opportunities for Norwegian industry are great in the Italian market in many sectors.
There are interesting opportunities for start-ups and growth companies within fashion which is a new, but fast developing industry in Norway. Norwegian brands are beginning to gain international recognition and Milan is definitely the most stimulating hub where Norwegian companies with global perspectives can have access to the same competence as the world leading fashion brand. Italy is home of the main fashion fairs of importance.
No other country in the world has more origin certified local quality products than Italy and several of them have developed into global brands. Italy is the main knowledge hub for development of local food production and brand building, where to work actively with Italian top-competence within the field to transfer this knowledge to Norwegian food producers.
Do you know that Milano hosts the world’s leading furnishing fair? Salone del Mobile – International Furniture Fair – is the global platform showcasing home furnishing, championing innovation and internationality, hosting more than 300 000 visitors and 7 000 journalists from all over the world. Every year, in April, Milan is the place to be, where to build a global position in the design sector.
Export of Norwegian seafood to Italy has doubled in value since 2008 (from 1 bill NOK to 2 bill NOK). Salmon has reached an all-time high and Italy is the main market for Norwegian stockfish, but the potential is still high and unexploited.
Wanted to know more about opportunities and initiatives in 2016 in Italy?
Feel free to contact Innovation Norway Milan:
Tel.: +39 02 85451411