Welcome to the fourth episode of “Italy: did you know that…?”! In today’s post we will explore the Italian manufacturing sector.
Thanks to the development of sectors such as pharmaceutical, machinery, industrial design, automotive and wooden furniture, Italy is a global leader in manufacturing. In particular, with a total surplus of 109,5 billion dollars in 2018, Italy ranks fifth in the world for manufacturing trade surplus. Within the European Union Italy’s manufacturing output ranks second, with a total value accounted for about 12% of total European production in 2018.
Out of a total of 5.206 merchandised products (the most detailed breakdown of world trade by industry), Italy occupies leadership positions for trade surplus referred to 922 products, as it ranks first in 240 products, second in 380 products and third in 302 products.
Thanks also to the Italian Government’s efforts in promoting private investment in innovation and advanced technologies, Italian manufacturing companies are among the most competitive and environmentally friendly globally, boosting Italian excellence in the world.
Remarks from the Ambassador of Italy to China, H.E. Mr. Luca Ferrari
The Italian manufacturing industry, known worldwide for its unrivaled quality, is the spearhead of our export. When it comes to our trade relations with China, about 60% of our export is composed of manufacturing products, such as machinery, pharmaceutical and medical, clothing, accessories and furniture.
The Italian Institutions in China are committed to promote the Italian manufacture, further facilitating its access to the local market and also to bolster a structured presence in the Chinese digital and e-commerce platforms.
