The ICE 2014-2015 Report, "Italy in the International Economy", was presented in Rome on 29 July, serving as an important information tool regarding the competitive positioning of the Italian production system within the global economy.

The Report highlights signs of recovery in the Italian economy during the first quarter of 2015, alongside a further expansion of the current account surplus in the balance of payments, bolstered by the fall in raw material prices and an increase in the manufacturing industry balance, which is approaching 100 billion euros.

The forecasts for the full year indicate an increase in exports, albeit below the global rate and lower in volume than the average for Eurozone countries. Indeed, while Italy demonstrates a greater degree of geographical flexibility in its exports compared to other European nations, it is negatively affected by its geographical positioning in international markets, having focused on markets that are currently slower in terms of domestic demand growth or are more mature. However, a recovery in competitive capacity within individual markets and an ever-increasing demand for "Made in Italy" products are expected.

Lombardy's export share of the national total reaches 30%, assuming an economic weight relative to GDP comparable to that of the strongest countries in the European Union.

The full report is attached

Attachments

• ICE Report 2014-2015.pdf