The gross domestic product (GPD) for Italy
was recently revised by the Italian Central Bank
, estimating a growth rate of 1.4% for 2018
. The Bank of Italy
increased the GDP growth rate
for this year by 0.1% compared to the previous estimates issued by the European Commission
. At the same time, the estimates on the Italian economy
show positive effects on the employment market
, which will increase by 4% between 2017 and 2020
. Our team of lawyers in Italy
can advise businessmen who want to set up a company here on the types of employment contracts
available under the local legislation.
Expanding economy in Italy
For the period 2017-2020, the Bank of Italy stated that the local economy will continue to increase at a steady rate due to global recovery and financial conditions. The revised data took into consideration the good market conditions on external and internal demand and interest rates.
Also, foreign businessmen should take into consideration the fact that the estimates for 2018
show that the level of investments will grow
, as a direct consequence of the corporate taxes policies
introduced by the local government. Our team of Italian lawyers
can assist with legal advice on the tax regulations
available for corporate entities.
As mentioned above, the employment market
will be influenced on a positive manner by the economic increase
and the institution declared that the unemployment rate will drop to 10.5%
at the level of 2020
(compared to 11.7% in 2016).
Characteristics of the Italian economy
The Italian economy
is mainly comprised of the services and manufacturing sectors
. The main sector contributing to the Italian GDP
is the services sector
, accounting for approximately three quarters of the GDP
. This sector is also the main employer in Italy
(65% of the Italian employees
The top activities developed by companies operating in the services sector in Italy are the following:
The Italian manufacturing sector provides high-quality goods for local and foreign markets and it is mainly represented by small and medium sized enterprises.