The relationship between Italy and China, compared with the consolidated affirmation
of the "Made in Italy" brand, can still be considered to be in its early stages. The
possibility of growth and development is significant and not without challenges. The 2008 ICE
report (the Italian Institute for Foreign Trade) supplies the data for this growth, as well as
data for the industries and sectors that are involved in the growth of this relationship
(ICE, 2008).
In 2007, Italy ranked 23rd among the suppliers of China and third among the
European suppliers, after Germany and France. The market quota held by the Italian export
was 1.07%, a slight increase from the 1.06% quota in 2006. The export to China, in terms
of value, achieved $10.22 bn, with an annual increment of 18.72%. For luxury goods,
an annual growth rate of 20-30% is expected. Also, in the light of an expected increase
in the Chinese middle class through 2010-2020, it is expected that China will overtake
Japan to rank second in luxury goods consumption. The growth of the Italian investments
in 2007 was concentrated mainly in the mechanical, chemical and textile sectors,
reaching $35 bn, a negligible variation from 2006. |