Emerging Sectors in Italy
Italy has an economy that is very diverse. It is divided into two parts, one is the agricultural-based, subsidized public sector and the other is the developed high performing industrial sector. The private companies dominate the
Italy is one of the main agricultural players in the EU, it is the biggest European producer of rice, fruits, vegetables, and wine. Together with the construction and services sector, the agricultural sector contributes significantly to the countries per capita GDP.
Italy is the world’s largest exporter of luxury goods which includes cars, clothing, accessories, cosmetics, etc. A large part of the Italian economy is driven by consumer goods manufactured by the small and medium-sized enterprises that are family-owned. These enterprises are a hallmark of the Italian industry across sectors.
Some of the key emerging sectors in Italy are:
South of Italy accounts for almost 63% of the farms in all of Italy, in recent years there has been a massive surge in the production of citrus fruits and wheat. While the North of Italy has seen an increase in the production of dairy products, meat, and rice. This is due to a variety of reasons which include, better policies, management, technology, and logistics.
Retail, Telecom, Tourism, Financial Services, and the Transport system that includes both rail and roads are key to the thriving of the services sector, more than two-thirds of the Italian population is employed in the services sector which in turn contributes around three-fourth to the Italian GDP.
Italy is the largest export of luxury items in the world, this could range from jewellery to cars, Italy is renowned for the quality of their craftsmanship and this continues to drive this sector. Over the last decade, with the influx of technology, the manufacturing sector has not only improved its efficiency but also made rapid strides in areas of design across sectors.