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Comparative Analysis of Global Consumers (Italy) - Essay Example

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The United States of America and Italy have been enjoying warm and friendly relations with each other for years. Italy is an important ally in the war against terrorism of the United States…
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Comparative Analysis of Global Consumers (Italy)
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Comparative Analysis of Global Consumers (Italy) Introduction The United s of Americaand Italy have been enjoying warm and friendly relations with each other for years. Italy is an important ally in the war against terrorism of the United States. Both countries are NATO allies and also collaborate in the United Nations as well. Italy has always worked closely with the United States on issues such as NATO and UN operation as well as with the assistance to Russia and Independent States, the Middle East peace process and the multilateral talks. Also, Italy and United States have good trade relations - many Italian products can be easily found in the United States' market.
Analysis
Today, the USA and Italy are working together on major economic issues. Both countries are the member of G-8. Italy, having a large population and high per capita income is the United States 10th biggest trading partner, with a joint trade of $42.5 billion, with exports to Italy totaling $11.5 and imports from Italy totaling to $31.0 Billion. The US also had a $19.5 Billion shortage with Italy in 2005 which rose up from 17.4 billion in 2004.
Major transformations can be seen in this trade nowadays. Products such as, office machinery and aircraft are becoming important US exports to Italy. The US's foreign investment in Italy was $33.3 billion at the end of the year 2004.
Two hard years, distinct by a financial slump in Europe and a damaging Euro/ Dollar exchange rate. In 2003, there were the first signs of recovery, which were later confirmed in the year 2004, and it became a solid movement in the early 2005. Once the slump was over the Italian machine tool industry started to run smoothly confirming the positive trends.
This was an important sign; first being because of the trend in the machine tool sector, which was a good sign in the interest of the industry as a whole in the new investment sector. This indicator measures business brightness, the development objectives measured are achievable and the motivation to assemble the financial resources by increasing the risk capital. Another reason is the nature of this sector. With a 4 billion turnover and over more than 35000 jobs, this industry is one of the most important in the world along with the United States, Taiwan, Japan and Germany. The major reason of it is because of its size and the percentage of the products exported.
The Italian brands in the US Market hold a place of domination, making many of them the international benchmarks. This fully validate the tendency of the Italian exports in the sector, which are intended above all at Europe (around 50% of the total, headed by Germany, France and Spain) to the North America (with the United States leading). The Italian exotic sports cars are also dominating the US market. Food items such as pizza and pasta are also playing a major part in it.
Conclusion
Italy possesses an increasing commercial expansion in the United States, generally because of the high regard for "Made in Italy" products. Italy is the 10th largest supplier with a balance of 1.4billion dollars, while the United States is Italy's third largest market outlet with exports of 25.8 million euro, this equals to 9.7% of the entire Italian exports. Through the support of the direct investment and augmented cooperation initiative, we will be able see more convert processes and product innovations.
Works Cited
TInews: Italian Travel Market - USA is preferred long-haul destination for Italians!
http://tinet.ita.doc.gov/tinews/archive/20021125.html Accessed September 21, 2006
The U.S. Market for Italian Foods (1073651)
http://www.packagedfacts.com/pub/1073651.html Accessed September 21, 2006
Italian Medicea products introduced to US market
http://www.cosmeticsdesign-europe.com/news/ng.aspid=53254-italian-medicea-products Accessed September 21, 2006
Italtrade
http://www.italtrade.com/news/european_preview.htm Accessed September 21, 2006 Read More
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