Over the years, Role of Import on Trade and Industrialization has increased the importance of export and import in every country. In this case, special mention needs to be made of Role of Import on Trade and Industrialization in Italy. Italy has a diversified industrial economy with roughly the same total and per capita output as France and the UK. This economy remains divided into a developed industrial north, dominated by private companies, and less developed agricultural south, though there is 20% unemployment. Most raw materials needed by industry and more than 75% of energy requirements are imported. Since 1992, Italy has adopted budgets compliant with the requirements of the European Monetary Union, wage moderation agreements by representatives of government, labor, and employers have helped to bring Italy's inflation into conformity with EMU requirements. Italy's economic performance, however, has lagged behind, to that of EU partners and it must work to stimulate employment, promote labor flexibility, and tackle the informal economy. Role of Import on Trade and Industrialization in Italy has helped the country to achieve higher growth. The economy of Italy has changed since the end of World War II which helped in Trade and Industrialization in Italy. Earlier it was an agriculturally based economy, and now developed into an industrial country ranked as the world's sixth-largest economy in USD exchange-rate terms and seventh largest in terms of purchasing power parity. In the recent times, Italy has faced sluggish economic growth and thereby reduced its international competitiveness.
Role of Import on Trade and Industrialization in Italy had its share of effects on the country as the, statistics of 2007 show signs of acceleration in GDP growth, estimated at 2% in 2006. Italy's closest trade ties are with the other countries of the European Union, with whom it conducts 59% of its total trade. Italy's largest EU trade partners are many let’s look at their market share as Germany (19%), France (13%), and Holland (6%). The country belongs to the Group of Eight (G-8) industrialized nations; it is a member of the European Union and the OECD, hence the Import Duty in Italy is quite less. Major industries in Italy--- are precision machinery, motor vehicles, chemicals, pharmaceuticals, electric goods, food, fashion and clothing. Trade and Industrialization in Italy, picked up since 1992, as economic policy in Italy has focused primarily on reducing government budget deficits. Successive Italian governments have adopted annual austerity budgets with cutbacks in spending, as well as new revenue raising measures. The deficit in public administration declined to 1.4% of GDP in 2000, down from 7% in 1995. Italy joined the Economic and Monetary Union in May 1998. Thus, Role of Import on Trade and Industrialization in Italy is undeniable. | 
