Each country’s economy varies and this depends on many factors. These include the availability of raw materials, geographical location, foreign relations, and local demand. The top industries in Italy are as follows.
Tourism is currently the biggest industry in the Italian economy. It is a major source of foreign exchange. The larger cities, such as Venice and Rome, have many tourist attractions that attract huge numbers of tourists to the country each year.
Manufacturing is the second largest industry in Italy. The main products manufactured in this country include machinery, steel, iron, chemicals, vehicles, ceramics, footwear and clothing. There is a current trend for privatization, although many of the most important manufacturing industries are state-owned.
Over half of the Italian workforce is employed in the service sector. This is a sector that is continually growing in Italy. Services include retail, hospitality, communications, media, recreation, health and education.
Shipping, Imports and Exports
Importing and exporting goods is another big industry in Italy. Leading exports include food, tobacco, beverages, vehicles, textiles, clothing, engineering products and machinery. The largest imports are chemicals, metals, transportation equipment, raw materials and petroleum.
Italy has a shortage of minerals and many are imported. Italy is also dependent on oil and this is a substance that is predominantly imported as resources are limited in Italy. However, minerals still play an important role in the Italian industry. The main minerals produced include petroleum, zinc, mercury, lignite, marble, asbestos, barite, pumice and potash. Hydroelectricity and methane are also produced in Italy.
Agriculture produces 2% of the gross domestic product. The major farm products include vegetables, fruit, potatoes, grapes, olive oil, olives, livestock, sugar beets, and soybeans. Fishing and wine production are also part of this sector.