Italy’s economy is heavily reliant on exports (e.g. wine) and tourism, and most of its workforce is employed in the services sector. As of 2012, its trade balance of goods is back in the black, which indicates that the value of exports is higher than the value of imports. For both import and export trade, Germany and France are Italy’s main trade partners.
Like many other countries, Italy was hit by the economic crisis of 2008/2009, causing national debt, unemployment and trade deficits to soar, to name only a few economic key figures. Nowadays, the country seems to be on the mend, and forecasts show a positive development on nearly all fronts. Its trade figures and GDP will surely help to make the country reach pre-crisis levels soon.
