Italy is among the most affected countries with coronavirus outbreak across the globe, as the incidences rising at a significant pace than any other country. In Italy, the death toll from COVID-19 surpassed 5,000, witnessing a sharp increase from the last few days. COVID-19 pandemic has a devastating impact on the Italian economy, as industrial output fell significantly. Italy had a considerable position in the value of industrial production in the EU member states. For instance, as per the Eurostat, more than 75% of the value of sold industrial production in EU 28 was generated by six member states, including Germany, Italy, France, UK, Spain, and Poland with 28%, 16%, 12%, 9%, 8%, and 5%, of total EU respectively (Eurostat). The country accounted for nearly 2.4% ($2.1 trillion) of the world’s GDP in 2018.
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As per the International Trade Administration (ITA), Italy’s third-largest destinations for exports is the US, which totaled $50.1 billion value of the country’s exports to the US in 2018. Italy’s small and medium enterprises (SMEs) sector has a considerable proportion of firms that contribute approximately one-third of value to the economy and half of total employment in the country. As Italy’s economic structure is heavily dependent on SMEs, the spread of coronavirus is significantly affecting the economy of Italy. SMEs relies on loans and finances to meet their business requirements. Due to the vulnerabilities facing by the Italian financial sector amid COVID-19, SMEs operations are negatively affected, which in turn, is leading to a significant decline of the Italian economy.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Verticals Affected Most
- Automobile
- Food & Beverage
- Aviation
- BFSI
- Retail
- Travel and Tourism
- Healthcare
- Personal Protective Equipment
- Others
Company Profiles
- Alitalia – Società Aerea Italiana S.p.A.
- Assicurazioni Generali S.p.A.
- Banca Sella S.p.A.
- Esselunga S.p.A.
- Eni S.p.A
- Ferrari S.p.A.
- Fiat Chrysler Automobiles N.V.
- General Electric Co.
- Nexi S.p.A.
- Poste Italiane SpA
- UBI Banca S.p.A.
- Enel S.p.A.
- TIM S.p.A.
The Report Covers
- Comprehensive research methodology of the pre and post-COVID-19 impact on Italy economy.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Italy economy.
- Insights about market determinants which are stimulating Italy economy.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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