Confindustria: Italy is the 7th manufacturer in the world

Confindustria: Italy is the 7th manufacturer in the world
Foto:PIRO4D / pixabay.com 

Rome - Italy confirms its seventh place in the ranking of main world manufacturers in 2016 too, with a share of 2.3%. This information was just released by the Centro Studi Confindustria in its report on industrial scenarios presented today. Italy confirms its second best European placing behind Germany, which is stable in fifth place with a share of 5.9%. China and the USA remain in pole position with unchanged shares of a global added value of 29.5% and 19% respectively. Italy has climbed aboard the industrial recovery train currently traveling across the Euro area, which has been higher than the United States and Japan since 2013: +2.3% against +0.9% and +2.1% the corresponding average variations between 2013 and 2016. Industry has gone back to being the driving force of European economic development: the differential between actual growth of manufacturing added value and GDP growth is 0.9% percentage points; in Italy, it is the same. At sector-level, the automotive industry has by far been the most significant sector to drive the recovery in the West in the 2013-2016 period.