Italy is one of the founding members of the EU and one of the largest economies in the world.
ISTAT, the Italian national statistics office, shows the following production volumes of electrical equipment and non-electrical household appliances:
2018: 27,531 € Billion
2019: 24,969 € Billion
2020: 26,869 € Billion
According to the German portal "Statista", in 2020, the entire Italian industry contributed 21.5 per cent to Italy's gross domestic product. By 2022, real GDP growth in Italy is forecast to be around 2.3 per cent year-on-year.
ZVEI writes in its report "Special Italy": Products from Italy are interesting for the German electrical market. For example, imports amounted to 4.4 billion euros in 2017 and 1.1 billion euros in the first quarter of 2018. This was 4.0 and 5.8 per cent more than in the previous year's respective period. The share of total electrical imports to Germany thus amounts to two and a half per cent. Overall, Italy is now the fifteenth largest supplier to the German market.
The country has always been one of the top 10 buyers of German electrical exports. In 2017, domestic industry exports to the EU's fourth-largest economy totalled 9.0 billion euros, exceeding their corresponding figure for the previous year by 3.4 per cent.
The WKO estimates the Italian economy as follows: The "country of 2021" (The Economist) has encouraging figures: Italy's economic growth of 6.6 per cent is the strongest in 45 years, consumption has picked up significantly and investment activities, as well as exports, increased by double digits. The government has successfully launched the rebuilding of the Italian economy. However, new challenges such as inflationary pressures and energy price developments and material and staff shortages need to be addressed.
Italy's Covid recovery plan comprises around €200 billion financed under the EU Reconstruction and Resilience Facility. It focuses on six areas, including digitalisation, innovation and competitiveness, green revolution and ecological change, and sustainable mobility. The implementation of this plan extends until 2026, with €21 billion already disbursed to Italy and the first 51 milestones reached by the end of 2021. Source: WKO
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