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Italy
Italy’s economy comprises a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, with a legacy of unemployment and underdevelopment.
The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family-owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction, and service sectors.
Italy is the third-largest economy in the Euro Zone, but its exceptionally high public debt and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets.
Italy is the third-largest economy in the Euro Zone, but its exceptionally high public debt and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets.
| Population | 62.9 |
|---|---|
| Language | Italian (official), German (parts of Trentino-Alto Adige region are predominantly German speaking), French (small French-speaking minority in Valle d'Aosta region), Slovene (Slovene-speaking minority in the Trieste-Gorizia area) |
| Religion | Christian (83,3%), Muslim (3,7%), unaffiliated (12,4%), other (0,6%) |
| Capital | Rome |
| Government type | Repubblic |
| Currency | EURO |
| GDP 2023 - billion Euro | 2.170 |
| GDP 2023 - growth | 0,7% |
| Inflation 2023 | 5,7% |
| Export 2023 - billion euro | 626 (4,6%) |
| Import 2023 – billion euro | 591 (-12,8%) |
ITALIAN-SERBIAN ECONOMIC RELATIONS
Italy is Serbia's third largest trading partner. Italy is the fourth exporting country in Serbia (after China, Germany and Russia) and the third importing country from Serbia (Germany and Bosnia at the top).
The Italy-Serbia trade records constant growth and reaches around 4.5 billion Euros, with around 2.5 billion of Italian exports and around 2 billion of Italian imports. The trade balance remains constantly in favour of Italy.
Italy is one the main investors in Serbia. It is estimated that around 1200 Italian companies are active in Serbia, creating employment for around 50.000 employees, contributing to 5,5% of the Serbian GDP. Italian investments represent 11% of the 42 billion Euros of FDI received by Serbia since 2007.
Italian companies are present in many sectors of the Serbian economy, including the automotive sector with Stellantis, whose Kragujevac plant represents one of the largest foreign investments in Serbia, the financial sector (Intesa Sanpaolo and Unicredit hold approximately 27% of local market), insurance (Generali and UNIPOL SAI-DDOR represent 32% of the Serbian market), textiles (Benetton, Calzedonia, Pompea and Golden Lady) and agriculture (Ferrero).
The Italy-Serbia trade records constant growth and reaches around 4.5 billion Euros, with around 2.5 billion of Italian exports and around 2 billion of Italian imports. The trade balance remains constantly in favour of Italy.
Italy is one the main investors in Serbia. It is estimated that around 1200 Italian companies are active in Serbia, creating employment for around 50.000 employees, contributing to 5,5% of the Serbian GDP. Italian investments represent 11% of the 42 billion Euros of FDI received by Serbia since 2007.
Italian companies are present in many sectors of the Serbian economy, including the automotive sector with Stellantis, whose Kragujevac plant represents one of the largest foreign investments in Serbia, the financial sector (Intesa Sanpaolo and Unicredit hold approximately 27% of local market), insurance (Generali and UNIPOL SAI-DDOR represent 32% of the Serbian market), textiles (Benetton, Calzedonia, Pompea and Golden Lady) and agriculture (Ferrero).
ITALIAN-MONTENEGRIN ECONOMIC RELATIONS
Italy is Montenegro's fourth supplier country (after Serbia, China and Germany) with Montenegrin imports amounting to approximately 120 million Euros. Italy is the sixth importing country from Montenegro (after Serbia, Bosnia, Slovenia, the Czech Republic and Luxembourg), with imports amounting to approximately 12 million Euros. The trade balance remains in favour of Italy for 105 million Euros. The main products exported from Italy were ships and boats, machinery for the industrial sector, electricity and textile/clothing products. It should be noted that Montenegro's trade with European Union countries is regulated by the free trade agreement and trade on favorable terms.
Italy represents the first investor and strategic partner of Montenegro in the energy sector, through the presence in the country of projects developed by Terna, A2A, ENI. Italy is also significantly present in the construction sector, especially with projects in the tourism sector (Pizzarotti, DBA, Geodata). In the insurance sector, Generali holds a leading position. The Ocean Interlog Trieste Consortium has taken over the entire capital of Pomorski Poslovi, owner of maritime services in the port of Bar.
ISTAT: www.istat.it
Italy represents the first investor and strategic partner of Montenegro in the energy sector, through the presence in the country of projects developed by Terna, A2A, ENI. Italy is also significantly present in the construction sector, especially with projects in the tourism sector (Pizzarotti, DBA, Geodata). In the insurance sector, Generali holds a leading position. The Ocean Interlog Trieste Consortium has taken over the entire capital of Pomorski Poslovi, owner of maritime services in the port of Bar.
ISTAT: www.istat.it
ITALJUG
LA CAMERA DI COMMERCIO ITALIANA
PER LA SERBIA
ED IL MONTENEGRO
Via Alessandro Manzoni, 45 - 20121 Milano (Italy)
Tel. +39 02 7631 8101 | Fax: +39 02 7639 0984
