International
is the world’s
ninth-largest exporter, and it shipped $17.6 billion worth of products
worldwide in 2013. There are five major export industries in Italy that account
for the majority of Italian exports. These sectors are mechanical machinery and
equipment, basic metals and metal products, transport equipment, chemical
products and synthetic fibers, and electrical equipment and electronics. Another growing export is the production of
energy in the industry sector, and Italy is able to export 3.3431 billion kWh
of electricity, 667,100 bbl/day of oil, and 210 cu/m of natural gas. Since Italy is challenged by mountainous
terrain, agriculture is challenged. Therefore Italian export trade depends on
the manufacturing sector, particularly the production of automobiles and
machinery. The two major export trade partners for Italy were Germany and
France and these two countries alone received nearly 25% of all Italian exports.
Therefore as these two countries recovery from the recession, Italy’s export
sector increased. The U.S, Spain, and the U.K are also major export partners of
Italy. The major imports of Italy are minerals, nonferrous metals, chemicals,
and food and beverages. Italy does not have many oil or mineral deposits
therefore they are the major import sectors. These are major imports because
they are needed to produce manufactured goods. Italy’s major import trade
partners are Germany, France, China, Netherlands, and Libya. These five
countries combine for just over 40% of Italian imports.
Italy is one of the eighteen
European Union member states to use the euro as the form of currency (the
others are Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece,
Ireland, Latvia, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia,
and Spain). The euro was introduced to the world financial market on January 1,
1999, to replace the ECU. When it was first introduced, 1 Euro was equal to
$1.1743 USD, however within two years that value dropped and on October 26,
2000 the value was just $0.8252. Since then it has traded above the U.S dollar
and on July 18, 2008 it peaked at $1.6038, and it’s value has continued to
fluctuate of the years. Today the value of the euro is $1.38 USD.
Between 1876 and 1970, nearly
25 million Italians left Italy in search for work, and nearly 12 million of
those, left Europe completely. In the late 1800’s and early 1900’s the U.S was
the major emigration destination, and the majority of the migrants were from
Southern Italy. However after World War II, the most popular destination for
Italian migrants was France followed by West Germany and Switzerland. During this period most of the migrants were
males searching for work, and would occasionally return to Italy. After the oil
embargo in 1973, nearly 850,000 Italians working in Italy were forced to
return. 1972 was the first time that Italy registered more people immigrating
to Italy instead of leaving. Most of the migrants came from Asia, Africa, and
Latin America, and until the mid 1980’s they dominated the migration to Italy,
but it was difficult the asses the exact number. After the fall of communist
regimes in Eastern Europe, many new migrants entered Italy from Poland,
Romania, Albania, and the Yugoslav region, and they arrived on the Adriatic
coast. In 2010 there were about 5 million foreigners in Italy, and the majority
of which came from Eastern Europe. The European immigrants went to mostly the
north and center of Italy, while African migrants dominated the South. As time
has gone, Italy has gone from a place from which people emigrated from, to a
destination to which they immigrate to.
Italy
was on the wrong side of World War II when they were allies with Hitler’s
Germany, and Japan and fought the against the Allied Powers (the U.S, England,
France, Russia, etc.). After World War, Italy has not had allies and enemies
the same way they used to. However Italy
is a member of both the E.U and NATO, therefore their “allies” are the other 26
members of NATO (U.S, U.K, France, Iceland, etc.), and the 27 member states of
the E.U, which are most European countries, except Albania, Bosnia, Croatia,
Serbia, Montenegro and Kosovo, and Turkey. Italy is on neutral terms with both
Norway and Switzerland. Although they do not have any major enemies, Italy has
historically been on rocky terms with Libya, Ethiopia and a few other Eastern
African countries. The main reason for these rocky relationships is due to a
sour past stemming from Mussolini’s colonization effort in this area. However,
after the Libyan Civil War and the overthrowing of Gaddafi, the relationship
between the countries has become friendlier.
