Future of Italy in World Market

Published: 2021-07-06 06:28:30
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The total value of U.S. imports from Italy? Also of America’s exports to Italy?Total exports to Italy by America is 16.75 Billion dollars, whereas imports are 45.21 Billion dollars. (www.ustradernumbers.com)Italy’s top three imports?The three leading imports for Italy are cars, petroleum in crude form and packaged medicaments. (www.atlas.media.mit.edu)Italy’s top three exports?The leading three exports for Italy include packaged medicaments, automobiles and petroleum in refined form. (www.atlas.media.mit.edu)Rate of corporate taxThe rate of corporate tax of Italy stands at 24 percent. ((www.atlas.media.mit.edu)GDPItaly’s GDP is recorded at 1.93 Trillion dollars. (www.countryeconomy.com)Per capita income?Italy’s per capita income is about 37,970 dollars. (www.knoema.com)Is Italy high context or is it low contextItaly is considered as high context . (www.cascadebusnews.com)What is the average schooling years for adults in Italy.The average schooling years in Italy for adults are approximately 7 years. (www.nationmaster.com)Population percentage which are below the line of poverty.There is a 29.9% of the total Italy’s population which is lies lower to the line of poverty. (www.cia.gov)The population growth rate.0.19% is rate of Italy’s population growth. (www.indexmundi.com)What is the life expectancy in Italy?In Italy, the expectancy of life is 82.7. Male’s is 80.5 and females’ is 84.8. (www.worldlifeexpectancy.com)What is the age of retirement in Italy?In private sector, males and females retire at the age of 65 and 60 respectively, whereas the civil servants, both men, and women, retire at 65. (www.professionalpensions.com)Individual tax rateIt depends on the pay. If annual income of a person is up to 15,000 euros, then tax rate would be 23%, similarly if 15,001 to 28,000 euros then 27%, if 28,001 to 55,000, then 38%, if 55,001 to 75,000 euros, then 41% and if the income is above 75,001 euros, then the tax would be 43%. (www.europa.eu)What is the rate of inflation in Italy?0.5% is the rate of inflation. (www.tradingeconomics.com)What us the rank of Italy in ease of doing business?Italy is placed on 46 in the rankings. (www.tradingeconomics.com)The level of unemployment in Italy?11.1% is the level of umemployement in Italy as per the recent statistics. (www.tradingeconomics.com)What is the mobile usage for every thousand persons.1341.47 is used for every thousand persons in Italy. (www.nationmaster.com)The use of internet for every thousand persons?538.94 For every thousand persons, the internet used by the Italians is about 539. (www.nationmaster.com)What is the average number of vacations per year20 paid holidays are allowed by the government to the people of Italy. (www.vpcalendar.net)What is the average number of days per yearThe leave of maternity is about 150 days minimum and paternal leave is 2 days fully paid. Maternity leaves can be converted to paternity leaves. . . (www.elexica.com) (www.businessinsider.com)What is the Hofstede score of uncertainty vs. The America’sItaly has the score of 75 in comparison with the 46 scores of United States. It is the score which tells the extent to which the society deals with the unknown aspect of life. The extent to which the society feels helpless by the unknown future. This brings along in its wake the anxieties and disturbances and the society need to cope with them, and they develop methods to deal with these uncertainties. (www.hofstede-insights.com)What is the Hofstede score of PD vs. The America’sItaly’s score is 50 in comparison with United State’s 40. It deals with the people who realize that there is the unequal distribution of power amongst the people of a country. The score shows the extent to which people think that there is no such thing as equality. (www.hofstede-insights.com)What is the Hofstede score of individualism vs. The America’sItaly’s score is 76 as compared to 91 score of America. It deals with interdependence. The extent to which people are willing to help others in the society. It deals with the fact that whether a member of a society refers to ‘WE’ or ‘I’ in his or her statements. (www.hofstede-insights.com)What is the Hofstede score of M/F vs. The America’sItaly has a score of 70 and that of America is 62. This represents the society’s values are driven by success and competition, whereas the low score, which would be considered as a Feminine society represents the values of care and quality of life, helping each other. (www.hofstede-insights.com)What is the Hofstede score of LT vs. The America’sItaly’s score of 61 in comparison to the score of 26 of America’s. It represents how a society upholds its past, and at the same time tackles the problems of the present and the future. The high score represents the more practical approach to the society. While the low score shows a society is wary of the changes in the society. (www.hofstede-insights.com) Current Status of Italy in World Market PlaceItaly is one of the key countries of Europe. It has one of the world’s biggest economies in the world. It ranks in the 8th position of the list of world’s largest economy, with the Gross Domestic Product (GDP) of 1.93 Trillion dollars. Italy, in the year of 2016, made an export of approximately 455 Billion dollars, which cemented its place as one of the largest and biggest exporters in the world market. Italy’s main exports in the world market are packaged medicaments, with a total of 3.6% of Italy’s overall exports and 3.3% constitutes cars which are exported of the total number of exports (OEC n.p.).Italy is also one of the biggest importers in the world. It has imported approximately of 400 Billion dollars in the year of 2016, making it the world’s 8th biggest importer in the world market. Automobiles constitute the biggest portion of the overall imports of Italy with a 6.8 percent, whereas crude petroleum comes in second as the most imported by Italy with 4.7 of the total imports by the country (www.export.gov). It is safe to say that Italy has cemented its strong place in the world market with strong exports, imports and trade balance.Ease of Doing Business in ItalyThe ease of doing business means how suitable is the country to open a business in. It includes the protection and safety of the rights of property. Italy has improved its ranking in the world ranking of ease of doing business to 46th place. This ranking shows that the business regulations in Italy, as compared to other countries are considerably strict and less amicable.This ranking includes all 190 countries and Italy has reached its lowest ranking of 87 in the year of 2011. The ranking of Italy in ease of doing business was averaging 63 from the year 2008 to 2017, with achieving its best ranking in the year of 2014 of 44. By looking and analyzing the trends, the ranking of Italy will improve, considering it came from 87 to 44 in the span of just three years (www.tradingeconomics.com). Investments of other countries in ItalyThere have been some fluctuating times for Italy in terms of investments from the year of 2008 to 2012, but Italy has, since then steadied and the flow of investment in going at a steady speed. The flow of investment in Italy reached approximately 29 Billion dollars two years ago, which has catapulted Italy in the 15th position of the receiver of the foreign direct investments. Italy has surpassed many of the world’s strongest economies, which include Spain, France, and Japan. There are several countries who are and want to invest in Italy, and the main investing countries are Luxembourg, France, Holland, Germany, England, Belgium, Switzerland, Spain and United States of America (www.santandertrade.com).These aforementioned countries are the biggest investors of Italy mainly because of the fact that Italy is one of the biggest and largest markets and economies in the world. Italy is one of the important countries in international trade as well as in manufacturing. Its workforce and labor are quite skillful and competitive. There are legislation and reforms being introduced, which are in favor of the growth of businesses in Italy. It has a historical heritage, having a great culture and unmatched experience of life.Future of Italy in World MarketItaly’s Prime Minister, Matteo Renzi, believes that Italy will soon become the economic leader of Europe, and many people thought that the prime minister, as well as the people of Italy, are in a state of delusion. But recent trends have shown that, although had faced a turbulent period in terms of business ventures in the past, it is slowly picking up the pace and in the near future would become the economic leader in Europe. There is a realistic chance of Italy moving up the ladder in the world economy because, in the recent history, Italy has brought about some plans that would increase other countries investments. They are trading with the major economic countries of the world such as the United State of America, France, Britain, and many other countries (www.santandertrade.com).Italy’s ranking in the world economy is increasing every year, and by becoming the 8th largest economy in imports as well as exports sheds light on to the fact that it will, along with Germany and France, will become the most powerful economies in the world. Although there are numerous steps that Italy has to take in order to be considered in the upper echelons of the world economy, since they are facing a seemingly insurmountable public debt, which is only above Greece, in terms of Growth Domestic Product, but if the right reforms are taken, as it is being indicated by the reforms of business ventures, they will soon be among the biggest economies of the world (www.weforum.org).Works Cited“Italy – US Trade numbers.” US TradeNumbers. N. p., 2018. Web. 19 Mar. 2018.“OEC – Italy (ITA) Exports, Imports, And Trade Partners .” Atlas.media.mit.edu. N. p., 2018. Web. 19 Mar. 2018.“Italy Corporate Tax Rate | 1981-2018 | Data | Chart | Calendar | Forecast.” Tradingeconomics.com. N. p., 2018. Web. 19 Mar. 2018.The product, GDP. “Italy GDP – Gross Domestic Product 2017.” countryeconomy.com. N. p., 2018. Web. 19 Mar. 2018.“Italy GDP Per Capita Based On PPP, 1980-2017 – Knoema.Com.” Knoema. N. p., 2018. Web. 19 Mar. 2018.College, Leslie, and Leslie College. “High-Context & Low-Context Cultures – Cascade Business News.” Cascade Business News. N. p., 2010. Web. 19 Mar. 2018.“Countries Compared By Education > Average Years Of Schooling Of Adults. International Statistics At Nationmaster.Com.” Nationmaster.com. N. p., 2018. Web. 19 Mar. 2018.“The World Factbook — Central Intelligence Agency.” Cia.gov. N. p., 2018. Web. 19 Mar. 2018.“Italy Population Growth Rate – Demographics.” Indexmundi.com. N. p., 2018. Web. 19 Mar. 2018.“Life Expectancy In Italy.” World Life Expectancy. N. p., 2018. Web. 19 Mar. 2018.Pensions, Professional et al. “Italy Raises Retirement Age By Three Years .” http://www.professionalpensions.com. N. p., 2010. Web. 19 Mar. 2018.“Income Tax.” Your Europe – Citizens. N. p., 2018. Web. 19 Mar. 2018.“Italy Inflation Rate | 1962-2018 | Data | Chart | Calendar | Forecast.” Tradingeconomics.com. N. p., 2018. Web. 19 Mar. 2018.“Ease Of Doing Business In Italy | 2008-2018 | Data | Chart | Calendar.” Tradingeconomics.com. N. p., 2018. Web. 19 Mar. 2018.“Italy Unemployment Rate | 1983-2018 | Data | Chart | Calendar | Forecast.” Tradingeconomics.com. N. p., 2018. Web. 19 Mar. 2018.“Countries Compared By Media > Telephones > Mobile Cellular > Per Capita. International Statistics At Nationmaster.Com.” Nationmaster.com. N. p., 2018. Web. 19 Mar. 2018.“Countries Compared By Media > Internet > Users Per 1000. International Statistics At Nationmaster.Com.” Nationmaster.com. N. p., 2018. Web. 19 Mar. 2018.“Average Vacation Days By Country.” Vpcalendar.net. N. p., 2018. Web. 19 Mar. 2018.” Leave In Italy .” Elexica.com. N. p., 2018. Web. 19 Mar. 2018.Turner, Matt. “Here’s How Much Paid Leave New Mothers And Fathers Get In 11 Different Countries.” Business Insider. N. p., 2018. Web. 19 Mar. 2018.“Country Comparison – Hofstede Insights.” Hofstede Insights. N. p., 2018. Web. 19 Mar. 2018.“Italy – Market Overview | Export.Gov.” Export.gov. N. p., 2018. Web. 19 Mar. 2018.“Foreign Investment In Italy – Santandertrade.Com.” En.portal.santandertrade.com. N. p., 2018. Web. 19 Mar. 2018.“Could Italy Become Europe’S Next Growth Engine?.” World Economic Forum. N. p., 2018. Web. 19 Mar. 2018.

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