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Doing Business in Italy

 

Doing Business in Italy

Italy ranks sixth among OECD countries and fourth among European countries in terms of Gross Domestic Product. Italian production represents 11% of EU GDP. Italian production structure is similar to that of other big European countries, with the manufacturing and construction sectors accounting for 27.7% of GDP and the services sector accounting for almost 70% of GDP. Commerce, transports and communication sectors take up a higher share of GDP compared to the EU average. Located at the heart of the Mediterranean, Italy is at the crossroads of the land, maritime and air lanes connecting Northern and Southern Europe. With 60 million consumers and with its GDP ranking fourth in Europe, the Italian market offers numerous opportunities to expanding businesses. Thanks to its strategic location, Italy grants easy access to 396 million consumers in the EU and to 240 million consumers in Northern Africa and the Middle East. With an annual turnover of approximately 65 billion Euro, Italy plays a leading role in the EU (11% of the European market share). Of all European countries Italy has the lowest start-up costs for the biotechnology sector, and takes second place for product testing in research and development, chemicals and electronics.



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