REGIONAL REPORT
Comprehensive upskilling programmes , together with labour market reforms and enhanced social safety nets , will be critical for raising productivity
Motorbike manufacturer , Ducati , is an Italian success story .
Small and medium-sized enterprises ( SMEs ) — many of them familyowned — comprise 95 % of Italian businesses and produce approx . 66 % of Italy ’ s GDP . Italy ’ s SME sector has a higher proportion of firms employing fewer than ten people than the EU average . These companies contribute nearly half of total employment and one-third of the country ’ s GDP .
In December 2021 , Kristalina Georgieva , head of the International Monetary Fund , congratulated Italy for achieving a higher-than-average growth rate . The IMF had projected growth of 5.8 per cent for 2021 against five per cent for the euro area .
“ We see the Italian government putting forward a very sound foundation for Italy ’ s sustainable and robust growth . We look at the 2022 budget and it has the right proportion of reforms and investments . We look at the recovery plan of Italy . It is exactly the same , with a very robust balance between reforms , especially structural reforms and investments , and we think that this is a medium-term strategy that is now embraced by the country and endorsed by the European Commission ,” she commented . The COVID-19 pandemic dealt a severe blow to the Italian people and their economy . GDP fell by nearly nine per cent in 2020 , with much larger drops for contact-intensive services . Public and corporate debt increased strongly while pre-existing vulnerabilities probably worsened . The government is prioritising resolving the health emergency and transforming the economy to lift productivity , improve social outcomes and strengthen resilience to future shocks and structural change .
“ Italy ’ s economic outlook depends upon the path of the pandemic , the extent of structural change it will usher in as well as the effectiveness of economic and public health policies . The recovery will be supported by the ongoing vaccination campaign and substantial investment spending under the government ’ s multi-year National
The Made in Steel exhibition in Milan .
Recovery and Resilience Plan ( NRRP ), mainly financed by Next Generation EU resources , to increase physical and social infrastructure and support structural reforms ,” explained the IMF .
“ Comprehensive upskilling programmes , together with labour market reforms and enhanced social safety nets , will be critical for raising productivity and helping to transition workers into expanding sectors as well as bring more women and youth into the workforce ,” advised IMF Directors .
Machine tool market indicators
“ 2021 was an extremely positive year for the Italian machine tools , robotics and automation industry , which reported double-digit increases for all key economic indicators . This trend should continue into 2022 , the year when all the ground lost in 2020 should be recovered ,” UCIMU-SISTEMI PER PRODURRE told ISMR . It is the association that represents machine tools , robotic and automation technologies in the country .
Barbara Colombo , the association ’ s president , outlined these strong economic indicators during its traditional end-of-year press conference .
“ As highlighted by the preliminary year ’ s data processed by the Studies Dept . & Business Culture of UCIMU-SISTEMI PER PRODURRE , in 2021 production marked a 22.1 % upturn compared to the previous year . This outcome was due to the excellent trend in Italian manufacturer deliveries to the domestic market , which increased by 27.8 %, as well as to positive export performance ( 17.4 % more than in the previous year ),” she explained .
Based on ISTAT data processed by UCIMU , from January-September 2021 ( latest available data ), Italian exports of machine tools started to grow again in almost all destination countries . Sales to Germany , a primary market for “ Made in Italy ” exports , increased by 38.4 %. Other major destination countries were the United States , (+ 9.7 %); China ( -5.3 %); Poland , (+ 29 %) and France (+ 1.2 %).
“ The domestic market was extremely lively , as shown by consumption data , and increased by 30.4 % in 2021 compared to the previous year . The export / production ratio went down by two percentage points , standing at 53.1 %. In line with the upswing reported by these indicators was also the growth of turnover , exceeding nine billion euros in 2021 after collapsing to 7.5 billion euros in 2020 ,” said the association .
Despite dynamic demand and this improvement , in 2021 the Italian machine tool , robotics and automation industry of the
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