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:
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.
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
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!