In welcomed economic news, Il Sole 24 reported that Italy is now part of the “100 Billion Trade Surplus Club”. Indeed, the bel paese generated a $113 billion surplus in non food products last year. And so Italy joins China, Germany, Japan and South Korea as one of five G-20 countries that have a structural manufacturing surplus. Of this surplus, a full EUR 76.4 billion (more than 80% of the total) derived from machinery and equipment, electrical goods, non-automotive transport equipment, metal products, and rubber and plastic articles.
Yes, Italy is often recognized for fashion and food export, but this economic news is a reminder that Italy maintains a powerful industrial production capacity. In other good news, the Bank of Italy forecasts the Italian economy will resume growth in the final quarter of 2013. As Europe recovers from the economic crisis, we can look to Italian manufacturing as an important recipe for future success.
