Italy

Italy

Population and Official Language

Population : 61.34 million

Official Lanuguage: Italian

Economy

Italy is the second largest manufacturer in Europe behind Germany.

Benefits for UK companies exporting

•European Union (EU) market, so no tariffs
•similar regulatory framework to UK and modern intellectual property protection practices
•appreciation for British professional services and technologies and quality consumer goods
•easy access from the UK with low cost flights from several regional airports
•only 1 hour ahead of UK time

Strengths of the market

•modern infrastructure
•high level of internationalisation and entrepreneurship, with fully integrated supply chains
•strong manufacturing and innovation capability in several areas
•gateway to Mediterranean and Middle East markets, where the lifting of Iranian sanctions could increase exports by EUR 3 billion over the next 4 years
•hosts many trade exhibitions with global appeal
•one of the world’s highest rates of household wealth
•one of the world’s top 5 tourist destinations

Main UK exports

•crude petroleum
•basic chemicals, fertilisers and nitrogen compounds, plastics and synthetic rubber
•motor vehicles
•pharmaceutical products and preparations
•natural gas

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