Author: Luz Ruiz

October 30, 2019
Blog1900_WhyExportToMonaco

According to Time magazine, 1 in 56 of the population of Monaco is Worth at least $30 Million. Monaco, a small independent hereditary principality in Western Europe, is located on the Mediterranean Sea along the southern coast of France, which is also known as the French Riviera or Côte d'Azur.

 

According to Societe Generale, Monaco's economy is open to trade. The country's customs regulations conform to French and EU policies. The two nations are part of a customs union, and capital is free to move without restrictions between the two.

 

As a result, the Principality is part of the European Union customs zone, without being a member of the European Union. French customs service collects duties on cargo that unloads in Monaco and pays a share to the Principality. Monaco imposes a tax on exports to all countries, except France.

 

Us Trade Numbers states that Monaco ranked No. 168 in total trade value through August with a total of US$68.7 million. Exports totaled US$45.67 million and Imports totaled US$23.03 million, a surplus of US$22.63 million.

 

According to Santander Trade Portal, Monaco has created a stimulating environment for foreign investors, as shown by the simplified procedures for setting up businesses in the area and the extremely low tax rates that have helped make Monaco a tax haven. Monegasques and foreigners living and working in Monaco are not subject to income tax, except for French citizens.

  • There are many business and investment opportunities in Monaco, with tourism and hospitality, cosmetics and fashion, transport and pharmaceuticals, precision engineering and electronics some of the key industries.
  • Monaco applies no income tax for its residents.
  • Monaco is not formally part of the EU but uses the euro and has reciprocal agreements with France, meaning that many EU laws do apply.
  • The Monegasque government has an international outlook and welcomes foreign investors and businesspeople to operate in the Principality, so starting a business in Monaco is made relatively easy.
  • Whether you need a permit to engage in business will depend on the legal entity of your business, as well as the nature of your product or service.

Monte-Carlo Mc considers that among the many aspects which make Monaco a strategic location for doing business in Europe are:

  • Its unique political and economic environment
  • The presence of efficient administrative infrastructures
  • The density of financial activities and
  • The security for residents and their property.

Economic prosperity and the proportionally large number of jobs available, along with the government's sensitivity to safety and environmental protection, create favorable working conditions in the principality.

 

Monaco’s main imports are food, natural resources, amongst others. Monaco and Italy have the greatest trade links. Monaco also has good trade links with France including administration and legislation.

 

SOURCES

https://www.monte-carlo.mc/en/business-congress/invest-monaco/

https://blog.lacosta-properties-monaco.com/starting-a-business-in-monaco/

https://en.portal.santandertrade.com/establish-overseas/monaco/investing-3#targetText=Real%20estate%20is%20another%20attractive,make%20Monaco%20a%20tax%20haven.

https://import-export.societegenerale.fr/en/country/monaco/trade-country-risk

https://howtoexportimport.com/How-to-Import-to-Monaco--10216.aspxhttps://www.ustradenumbers.com/country/monaco/

https://www.nationsencyclopedia.com/economies/Europe/Monaco.html

http://www.cityoutmonaco.com/why-start-a-business-in-monaco-the-fact-sheet/#targetText=Monaco's%20main%20exports%20include%20pharmaceuticals,trade%20houses%2C%20agents%20and%20consultants.

October 24, 2019
BlogWhy_Export_Portugal

According to the International Trade Administration, “Mainland Portugal, along with the autonomous island regions of the Azores and Madeira, offers American exporters a market of approximately 10.3 million people in a country roughly the size of the State of Indiana. As a member of the European Union (EU) and the euro zone, it is fully integrated with the EU, uses the euro currency, and follows directives from the European Commission in Brussels. As with all EU countries, Portugal’s borders and ports are completely open to the free flow of trade with other EU member countries.

 

Portugal has a politically stable environment with a democratically elected parliamentary government and is welcoming of foreign business and investment. Portugal emerged from an extended economic crisis and successfully completed its European Union-IMF bailout program in 2014. It continued an upward trajectory in 2017, registering a record 2.7% growth and witnessing important declines in unemployment which fell to 8%. The structural reforms implemented since 2011 have created an economic and regulatory climate that is favorable to foreign investment which remains a priority for the Government with a focus on tourism, renewable energy, high quality industrial components, technology services, and value-added agricultural products”.

 

Regarding the purchasing power, it is important to note that the purchasing capacity is concentrated in the large urban areas of the country (Lisbon, Porto) and in some northern regions, such as Minho. In these places, there is a middle class that consumes products made in Spain. Finally, and as an element to highlight, there is a certain idiomatic intelligibility, since most of the Portuguese have some notion of Spanish and, with exceptions, if you speak Spanish you can establish an almost fluent conversation.

 

It should be noted that it is forbidden to export cultural goods, endangered species and war materials such as weapons, ammunition and the like.

 

What attractions does Portugal offer for business investment? According to Exportar en Aragon “The economic head of the embassy pointed to the labor market reforms - "one of the most flexible in Europe" -, justice, a new fiscal policy and a new leasing law. «The engine of growth is in the performance of companies. The export has gone from 26% of GDP to more than 40%, which implies a mental and organizational change in companies. The investment has also rebounded; It had fallen loudly, but it is going up”.

 

According to the International Trade Administration, “The United States is Portugal’s largest trading partner outside the European Union. The total amount of U.S. goods sold into Portugal is likely higher than the statistics reflect, as census data does not account for U.S. products imported into other EU countries and subsequently transported into Portugal for sale. It is common throughout the European Union for goods to be shipped to one EU location – often to take advantage of lower value added tax rates – and then to be distributed by ground transport to neighboring member state markets”.

 

What strengths does Portugal present when choosing it as a country to export?

 

  • An improvement in competitiveness thanks to deep structural reforms in sectors such as banking, pensions or the labor market. It has large companies with an international presence.
  • It has good performance in some industrial and innovative sectors.
  • Its economy is growing.
  • The unemployment rate has been reduced.
  • The country rating - investment grade BBB- is improving.
  • It has modern infrastructure and high quality.
  • It is a tourist destination.
  • It has initiated a sector and geographic diversification of exports.
  • It has research and innovation capacity.
  • It has lower labor costs and implemented reforms that improve the country's competitiveness.

SOURCES:

https://www.export.gov/article?id=Portugal-Market-Overview

https://www.oftex.es/por-que-exportar-a-portugal/

http://exportarenaragon.es/la-clave-para-vender-en-portugal-es-contar-con-un-equipo-portugues/

https://blog.bancsabadell.com/2018/12/escoger-pais-para-exportar-portugal-sabadell-negocio-internacional.html

October 17, 2019
Blog_LatinAmerica_PremiumQuality

21% of Latin American consumers have not changed their consumption habits in order to save on their expenses, since they are looking for the best products, regardless of whether they should pay a little more for them, according to the study 'Consumer Report : Pockets of Growth Latin America 2017, prepared by the firm Nielsen.

 

The remaining 79% is changing their consumption habits in order to save some money, however, they are open to buying new and better products if the value proposition matches their key concerns and demands.

 

Latin American consumers are willing to pay more for products with superior quality (57%), performance and better functions in purchasing processes (50%) and items containing organic or natural ingredients (49%).

 

They also tend to acquire premium products if manufacturers carry out their processes in a socially responsible manner, since they wish to acquire environmentally friendly goods (48%) and if companies have strong Corporate Social Responsibility policies (39%).

 

WHAT LATIN AMERICANS BUY MORE

 

Consumption in Latin America grew in 2017 thanks to stronger currencies, lower interest rates and the recovery of consumer confidence. With the three largest countries in the region (Brazil, Mexico and Argentina) enjoying a growth in consumption that goes from modest to very strong.

 

According to Inkwood Research, the Latin American beauty, cosmetics and personal care market had a total value of US $ 59.6 billion in 2017 and is projected to be worth US $ 83.6 billion by 2026, which represents a compound annual growth rate (TCAC) of 4%. Latin Americans spend more than twice the global average per capita on these products.

 

The energy drinks market in Latin America will grow with a TCAC of almost 12% between 2017 and 2021, according to a projection from Technavio. As Latin Americans become increasingly health conscious and become disengaged from consuming high volumes of soda, many have switched to energy drinks.

 

In a recent report with projections for the next 10 years (2018 to 2028), Reportlinker forecast a TCAC of 9.3% for the Latin American pharmaceutical market for the first half of that period. Latin America is the most obese region in the world, and its population is aging faster than any other part of the world: both are part of mega-trends that are affecting the health system of the region. As a result, chronic disease rates are increasing in Latin America and with them the demand for drugs in LatAm has emerged. The retail sale of drugs and medicines is consolidating rapidly, which is creating distribution efficiencies that make medicines more affordable.

 

For consumers in Africa, the Middle East and Latin America, items such as education, technology and health care fall into the five categories in which they spend the most.

 

SOURCES

https://www.nielsen.com/latam/es/insights/article/2017/productos-premium-potencial-de-crecimiento-en-america-latina/

http://diarioretailsudamericabusiness.com/do/productos-premium-potencial-de-crecimiento-en-america-latina/

https://americasmi.com/insights/lo-que-mas-compran-latinoamericanos/

https://www.the-emag.com/blog/consumidores-de-america-latina-demandan-productos-premium

http://www.marketersbyadlatina.com/articulo/5091-en-productos-premium-en-latam-se-elige-más-por-calidad-que-por-precio

October 10, 2019
Blog_TopReasons_Export_SouthKorea

South Korea is home to some of the world’s biggest conglomerates, including Samsung, Hyundai, LG and SK, and is also a leading global exporter of semiconductors, telecommunications equipment, automobiles, chemicals, ships and consumer electronics. The country leads the world in broadband internet penetration and has one of the world’s highest rates of internet and mobile telephone use. With the EU-South Korea FTA providing a positive backdrop, this is a country which offers business strong opportunities for firms willing to make the commitment needed for export success.

 

South Korea has made many economic efforts in the last four decades. It maintains a very low inflation rate (1.1%), a policy of opening to foreign investments and high national savings.

 

The result is a powerful high-tech industry in sectors such as electronics, car production, chemicals, shipbuilding and steel derivatives, and great international confidence worldwide.

 

According to the Korean Ministry of Commerce, Industry and Energy, the promises of Foreign Direct Investment (FDI) in this country were increased during the first half of 2014, which reinforces this emerging power as a destination for investment capital. The increase is based on strong Chinese investment, although the main conclusion is that companies' confidence to invest in the Korean economy grows.

 

The figures provided by the Korean Ministry of new promises for the first half of the year (USD $10,070 million dollars) represent an increase of 39% over last year, while the total real investment (USD $6770 million dollars) also represents a Record in capital raising, recording an increase of 57% compared to the same period of 2013.

 

This Asian country is growing at a rate of 4%, a weight of the latest downward revisions to the cause of the risk that Korea represents North and the strengthening of its local currency, livestock, which detracts competitiveness from South Korean companies and reduce their profits when they are distributed among shareholders. Despite these negative factors, South Korea had a trade surplus in June of $ 5.290 million, mainly, thanks to the increase in exports of technology products and steel products. With this month there are already 29 followed with surplus.

 

Korean exports grew this month at a rate of 2.5% per month, reaching 47.840 million dollars and imports registered an increase of 4.5% to reach the amounts of 42.550 million dollars. Korean companies dedicated to the sale of semiconductor mobile communication devices, high-end televisions, LCD and steel products were the fastest growing in this period. Sales of petroleum products and automobiles fell.

 

The top export destinations of South Korea are China ($149B), the United States ($69.4B), Vietnam ($47.7B), Hong Kong ($34.8B) and Japan ($26.9B). The top import origins are China ($98.1B), Japan ($54.2B), the United States ($48.7B), Germany ($19.7B) and Other Asia ($18B).

 

SOURCES:

https://www.eaeprogramas.es/internacionalizacion/china-o-corea-del-sur-exportar-o-invertir

https://www.export.gov/article?id=Korea-Market-Overview

https://www.enterprise-ireland.com/en/Export-Assistance/International-Office-Network-Services-and-Contacts/Going-Global-South-Korea.pdf

https://www.google.com/searchq=porque+exportar+a+corea+del+sur&oq=PORQUE+EXPORTAR+A+COREA+D&aqs=chrome.0.0j69i57.5095j0j9&sourceid=chrome&ie=UTF-8

October 3, 2019
Blog_BeautyIndustry

Business Insider “The beauty industry is valued at $532 billion and is on a rapid upward trajectory, according to a new report from retail analytics firm Edited”.

According to Shannon Peters (from I-D) “The beauty industry is driven by novelty. Every week there is a new fashion ingredient that promises to revolutionize our skin care routine, or a new makeup brand backed by the most famous celebrities”.

There are many reasons why today's consumer takes more care of his physical appearance than ten years ago. Numerous studies show growing trends in consumption towards beauty products regardless of gender: men and women alike are driving the industry, seduced by innovative products, while consuming traditional products. Aspects such as weather conditions (cover from the sun or pollution), self-esteem and even work have changed consumer trends, increasingly enhancing the acquisition of these products.

Forbes shares something interesting: “Millennial Culture = immediate results. In 2015, sales of anti-aging products fell for the first time in many years, contravening the trend of the last decade, when products specialized in combating fine lines and first wrinkles had been the most demanded. The reason? The new philosophy of millennial self-acceptance, which threatens to completely change the paradigms of the industry. According to Karen Gran, a global beauty industry analyst for The NPD Group, "it's less about giving up than accepting who you are, what you are and how you look, without feeling that you have to get into some mold." But that's not all: the millennial culture has coined a new philosophy within the world of luxury (See now, buy now) that seeks immediate satisfaction. While the sale of creams with long-term results has declined, makeup sales have increased by 13%. A new front that the beauty industry is about to conquer”.

 

ZERO WASTE

We know that mass consumption is causing irreversible damage to the environment, so more and more people are looking for ways to reduce it. That is why makeup addicts are trying to "rehabilitate" and there are more and more reusable beauty products. But still we will need a more drastic solution. As such, consumer research analyst Mintel has highlighted waste below zero as one of its key trends for 2019. Beauty brands are finding increasingly clever ways to eliminate excess packaging, such as base and concealer without Lush packaging, while other brands are working on truly effective recycling innovations that are trying to eliminate contaminant waste completely.

The demand for solid formats that need minimal packaging will increase, something ideal for organic consumers looking for products that do not generate waste. The shampoo or facial cleansing bars will continue to increase, but the novelty will come from the hand of color cosmetics with makeup bases and blush in a bar format without packaging - like those offered by Lush. Products that limit the use of water will continue to be a key focus for the development of developments in 2019, as concerns about the water crisis around the world grow. Bar makeup and solid water-saving body formats will remain popular.

 

According to Theresa Yee, beauty editor at WGSN, "The focus will be on personalized digital devices that will help users keep track of their skin health, reduce their aging and offer long-term solutions to combat different problems such as acne, dryness, eczema and lack of pigmentation” she says.

 

SOURCES:

https://grupoacir.com.mx/blog/tendencias-en-el-consumo-de-productos-de-belleza/

https://i-d.vice.com/es/article/d3bj4z/tendencias-belleza-2019

https://www.forbes.com.mx/forbes-life/belleza-lujo-necesario/

https://www.magacin.com/belleza/nota/las-10-tendencias-clave-en-la-industria-de-la-belleza-para-el-2019/

https://www.businessinsider.com/beauty-multibillion-industry-trends-future-2019-7

September 26, 2019
Blog_Choose_ExportCountry

Once you have decided that it is time to take your products or services to new markets, it is important that you start planning your entry strategy. But how to start planning if you still don't decide exactly where you are going to take your products?

 

One of the essential points in any export strategy is to choose the right market for your products (globally, consumers may have very different buying patterns from each other).

According to the Trade Africa Promotion Program “Deciding which country to sell your export products to, will be far easier if you start examining only two countries and comparing them. If you choose to look at more potential target countries, you will need a lot of time, because country research is probably the most time-consuming part of exporting. Most experts recommend targeting only one country at a time”.

ANALYZE

The Global Trade and Supply Chain Management suggest “Once you have identified which of a short list of countries that may be suitable for your business to export to, your next step is to perform some due diligence on the risks that exist in each country”.

They suggest answering these questions regarding the country you have in mind to export to:

  1. Security: How safe is the physical environment?
  2. Political Stability: How stable are political institutions?
  3. Government Effectiveness: Does political culture foster strong business environment?
  4. Legal and Regulatory: Will the legal system safeguard investment?
  5. Macroeconomic Risks: Is the economy stable and predictable?
  6. Foreign Trade and Payments: How easy is it to get inputs/money in and out?
  7. Financial Risks: How healthy is the local financial system?
  1. Tax Policy: Are taxes low, predictable and transparent?
  2. Labor Market: Could labor market factors disrupt operations?
  3. Local Infrastructure: Will infrastructure deficiencies negatively affect operations?

MARKET SIZE AND TRENDS

In principle, the larger the target market, the more export opportunities it will provide. However, even more important is the trend of this market. Study the evolution of the penetration of your product and the GDP per capita of the country, and if both indicators are positive you will have found a promising market, since the demand for your product will tend to increase.

 

We are here to help you. Building an exporting strategy isn’t an easy task, but it gets considerably easier once you have all the elements of a high-quality market research. Infinitus can help you with this and all the other steps involved in the exporting process. Contact us to start looking into your personalized strategy!

 

SOURCES:

https://www.allianceexperts.com/en/strategy/

https://coeglobaltrade.com/export-101-choosing-your-export-market/

https://www.theguardian.com/small-business-network/2013/nov/22/exporting-choosing-right-country-small-business

September 20, 2019
Blog_TopReasons_Export_Switzerland

Switzerland is one of the most competitive economies on the planet, thanks to its service sector, with strong added value, its specialized industry, and a motivated and highly qualified workforce of 4.9 million people in a total population of 8.5 million. Agriculture contributes 0.64% of GDP and employs 3.5% of the active population. The main agricultural products are cattle and dairy products, although there are also more than 9 thousand wine cellars.

 

Switzerland is a diverse and mature economy with opportunities in all sectors. Business links between Switzerland and the UK are extremely strong with more than 80 flights per day linking the UK with Switzerland.

 

According to Lawyers Switzerland, Switzerland mainly imports metals, machinery and chemicals. The most imported good in Switzerland is gold that represents 21% of the country’s total imports. The second place is occupied by medicines with almost 6% and cars and car parts with almost 5%. Refined petroleum and jewels are also imported in Switzerland but in smaller quantities that reaches almost 4%.

 

Among other goods imported by Switzerland we can find computers, chemical products, agricultural products and textiles. Swiss imports are based on German products with a 24%, Italian goods with 11% and U.S. goods that supply almost 10%. France supplies almost 7% of the country’s imports, while countries like China and Austria provide almost 4% of Swiss imports. In smaller percentages Switzerland imports from Austria, The United Kingdom, The Netherlands, Ireland, Japan and Russia.

 

According to The Department for International Trade, the Strengths of the Swiss market include:

  • central location in Europe
  • political and financial stability
  • excellent public infrastructure
  • highly educated workforce
  • high productivity
  • innovative country with high spend on research and development (R&D) and technology
  • purchasing power amongst the world’s highest
  • reliable business, legal and regulatory environment
  • low Value Added Tax (VAT) compared to many European Union (EU) countries.

OPPORTUNITIES

Opportunities in Switzerland’s food and drink sector include:

  • ‘free from’ foods / healthier alternatives to existing product lines (no artificial colors and low sugar)
  • ethnic food
  • premium cuts of lamb and beef
  • seafood
  • alcoholic and innovative non-alcoholic beverages

Switzerland is one of the many countries where Infinitus can offer you its experience. We can help position your products in the Swiss market, just contact us and we will start the development of your market entry strategy.

 

SOURCES:

http://www.switzerland.doingbusinessguide.co.uk/the-guide/what-are-the-challenges/

https://www.gov.uk/government/publications/exporting-to-switzerland/doing-business-in-switzerland-switzerland-trade-and-export-guide

https://www.export.gov/article?id=Switzerland-Market-Overview

https://www.lawyersswitzerland.com/imports-and-exports-in-switzerland

https://www.tradefinanceglobal.com/exports/switzerland/

https://es.portal.santandertrade.com/analizar-mercados/suiza/politica-y-economia

September 12, 2019
Blog_TopReasons_Export_Argentina

Argentina, located in South America, has an area of 2,780,400 km2, so it can be considered a large country. Argentina, with a population of 44,494,502 people, is in position 31 of the population table, composed of 196 countries and maintains a very low population density, 16 inhabitants per km2. Its capital is Buenos Aires and its currency is Argentine pesos. Argentina is the 25th economy by volume of GDP.

 

According to The World Bank, “Argentina, one of the largest economies in Latin America with vast natural resources in energy and agriculture, is a leading food producer with large-scale agricultural and livestock industries. The country also has significant opportunities in some manufacturing sub-sectors and innovative services in high-tech industries. In addition, Argentina has taken a very active role on the international stage as it assumed the presidency of the G20 in 2018, expressed intention to join the Organisation for Economic Co-operation and Development, and became an observer in the Pacific Alliance”.

 

These are some of the reasons that The International Trade Administration considers that should motivate potential exporters to take their products to Argentina:

 

RESOURCES

Argentina is a resource-rich country with enormous potential for further development. It has the second largest shale gas reserves and fourth largest shale oil reserves in the world, as well as abundant solar and wind resources. U.S. know-how, technology and equipment are needed to develop sectors such as energy and agriculture.

 

INFRASTRUCTURE

The country is digitally capable, with high internet and smartphone dissemination.

 

CITIZEN INCOME

Income distribution has a smaller gap than in most Latin American countries; Argentina has a relatively large middle class with a significant appetite for U.S. consumer products.

 

PRO-BUSINESS

The current pro-business government under President Mauricio Macri is reforming the economy, attacking corruption, investing in infrastructure and reopening the country to global commerce; according to the Economic Commission for Latin America and the Caribbean (ECLAC), Argentina received 11.5 billion dollars of foreign direct investment during 2017.

 

Are you considering to take your products to Argentina? Let us help you! These are some of the services we can offer you to start building your market entry strategy:

  • Participation in events (trade fairs, conferences, presentations, focus groups and more.)
  • Service in four languages (English, French, Spanish & Portuguese)
  • Translation of your Website main pages, PowerPoint presentations, Pamphlet and some other.
  • A trial period to provide a clear picture of the potential that your company may have in the market to develop.

SOURCES

https://oec.world/en/profile/country/arg/

https://www.tradefinanceglobal.com/exports/argentina/

https://en.portal.santandertrade.com/international-shipments/argentina/exporting-products

https://www.export.gov/article?id=Argentina-import-requirements-and-documentation

https://www.export.gov/article?id=Argentina-market-overview

http://emerging-markets-research.hktdc.com/business-news/article/Latin-America/Argentina-Market-Profile/mp/en/1/1X000000/1X003I3F.htm

https://www.worldbank.org/en/country/argentina/overview

https://www.ey.com/Publication/vwLUAssets/ey-argentina-country-overview-and-investment-opportunities-dec-2017/$FILE/ey-argentina-country-overview-and-investment-opportunities-dec-2017.pdf

September 5, 2019
Blog_TopReasons_Export_Italy

According to The World Bank, Italy has an export-oriented economy and is the tenth-largest exporter and the eleventh world importer, with a trade that represents almost 59.5% of its GDP.

Here are some of the top reasons to export to Italy:

 

CONSUMER BEHAVIOR

Santander Trade states that “Italian consumers are demanding quality products. Therefore, they will be more concerned about the quality of customer service than about promotions. The aging population (Italy is projected to have a median age of almost 50 years by 2030) drives an increasing demand for specialist products and services.

 

TRADE AGREEMENTS

According to Gov.uk, “Italy is a member of the EU, the World Trade Organization (WTO) and other international bodies. Goods manufactured in the UK are exempt from import duties”. The main exports of goods by value from the UK to Italy in 2014 were:

  • crude petroleum
  • basic chemicals, fertilizers and nitrogen compounds, plastics and synthetic rubber
  • motor vehicles
  • pharmaceutical products and preparations
  • natural gas”.

HEALTHCARE AND LIFE SCIENCES

The Italian National Health System (SSN) is going through an in-depth reform and modernization process to consider:

  • aging population
  • the move of patients to outpatient care
  • increased focus on prevention
  • acceleration of e-health development

This means that there are opportunities for:

  • innovative equipment and medical devices
  • diagnostic (portable) equipment and kits
  • innovative daily life aids for elderly and disabled
  • e-care and e-health devices
  • food supplements and dietary foods

PREMIUM

This is important because for the Italian consumer, premium doesn`t necessarily mean more expensive, like The World Bank states; “Make no mistake. It’s not about charging more. Only 15% of Italians think higher prices are a sign of a premium product. Instead, they focus on the quality of materials and ingredients”.

 

We are very familiar with the Italian market, having successfully introduced products for very diverse industries. If you are interested in taking your products to Italy, just contact us so we can build a strong market entry strategy for your business!

 

SOURCES:

https://en.portal.santandertrade.com/international-shipments/italy/exporting-products

https://www.tradecommissioner.gc.ca/italy-italie/market-facts-faits-sur-le-marche/0001123.aspx?lang=eng

https://www.nordeatrade.com/fi/explore-new-market/italy/economical-context

https://www.wordbank.com/uk/blog/italian-consumer-behaviour/

https://www.export.gov/article?series=a0pt0000000PAu5AAG&type=Country_Commercial__kavhttps://en.portal.santandertrade.com/analyse-markets/italy/reaching-the-consumers