Italy: Facts & Stats

ECONOMY

Industry:

Industrial sectors have long been concentrated in northern areas of Piemonte, Lombardia, and Veneto. The region supplies easy access to the rest of Europe, hydroelectricity from the Alps, and workable, flat land. The FIAT factory, for example, is located in Turin. Most Italian industrial companies, often of small size, are located in the "industrial triangle" (Milan, Turin, Genoa) and in some centres of northeast and Emilia Romagna.

Italy is known for fashion houses such as Versace, Valentino, Fendi, Gucci, Prada, Roberto Cavalli, Sergio Rossi, Dolce & Gabbana, Benetton, and Armani.

FIAT is an automaker specializing in utilitarian and luxury vehicles, with the brands FIAT, Lancia, Alfa Romeo, Ferrari and Maserati. The Piemontese group struggled recently due to high input costs and declining market share, although a recent revival has seen a return to profit.

Manufacturers like Piaggio and Ducati produce motorcycles.

Italy has a substantial home appliance construction industry, especially in Lombardy (Candy), Marche (Merloni, Indesit) and northeastern regions.

A quarterly report prepared by the Economist Intelligence Unit on behalf of Barclays Wealth in 2007 estimated that there were 2,800,000 dollar millionaires in Italy.

Agriculture:

The northern part of Italy produces primarily grains, rice, maize corn, sugar beets, soybeans, meat, fruits and dairy products, while the south specializes in producing fruits, vegetables, oil and durum wheat. Italy, depending on the year, is the first or the second largest producer of wine in the world and one of the leading in olive oil, fruits (apples, oranges, lemons, pears, apricots, peaches, cherries, strawberries, kiwi), flowers and vegetables.

According to the Agriculture Census, there were 2.6 million farms in 2000 (down from 3 million in 1990,) covering 19.6 million hectares. The vast majority (94.7%) are family-operated and small, averaging only 5 hectares in size. Of the total surface area in agricultural use (forestry excluded,) grain fields take up 31%, olive tree orchards 8.2%, vineyards 5.4%, citrus orchards 1%, other orchards 3.8%, sugarbeets 1.7%, and horticulture 2.4%. The remainder is primarily dedicated to pastures (25.9%) and feed grains (11.6%.) Livestock includes 6 million head of cattle, 8.6 million head of swine, 6.8 million head of sheep, and 0.9 million head of goats.

The most famous Italian wines are probably the Tuscan Chianti and Piedmontese Pinot Grigio. Other famous wines are Barbaresco, Barolo and Barbera (Piedmont), Brunello di Montalcino (Tuscany), Montepulciano d'Abruzzo (Abruzzo) and Nero d'Avola (Sicily). Quality goods in which Italy specialises are often DOC or 'of controlled origin'. This DOC certificate, which is attributed by the European Union, ensures that the origins and work that goes into a product are recognised. This certification is considered important by producers and consumers alike, in order to avoid confusion with low-quality mass-produced ersatz products, such as Cambozola, a German copy of Gorgonzola.

Exports:

Italy's major exports are precision machinery, motor vehicles (utilitaries, luxury vehicles, motorcycles, scooters), chemicals and electric goods, but the country's more famous exports are in the fields of food and clothing.

Italy's closest trade ties are with the other countries of the European Union, with whom it conducts about 59% of its total trade. Italy's largest EU trade partners, in order of market share, are Germany (19%), France (13%), and the Netherlands (6%).

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