In 2009The bilateral trade between Israel and Italy amounted to 3.1 billion USD.
This is a 23% drop compared with 2008 when the bilateral trade reached 4.1 billion USD.
Exports from Israel to Italy in 2009 amounted to 1.04 billion USD (a drop 35% compared with 2008 when the exports reached 1.6 billion USD). The biggest drop was in the export of chemicals and plastics.
Imports from Italy amounted to 2.1 billion USD (a drop of 16% compared with 2008 when the imports reached 2.5 billion USD). The biggest drop was in the import of machines and electrical equipment.
Friday, February 12, 2010
Monday, February 8, 2010
Interview with Sebastian Escarrer, VP of the Spain hotel chain Sol Melia
Confirming a table of the World Economic Forum, Escarres states the first factor to hold foreign investments in Italy is bureocracy. In the second place the access to credit, in the third place the taxes, followed by the market regulations and the infrastructures. These difficulties explain why Sol Melia has only 4 hotels in Italy and in Germany there are 20, and in France 9.
Source: Il Sole 24 Ore_ Feb 2010
Source: Il Sole 24 Ore_ Feb 2010
The Italian expense for infrastructure has gone down. In three years - 15%
The Italian government has no budget to start small local works. In 2008 the "home plan" was cancelled, to move the funds to other priorities. Major infrastructures are instead beginning: the bridge over the Strait of Messina, the highway cutting through the north of Region Lombardy, the third mountain highway connecting Milano to Genova, the high speed train from Milan to Verona. These big projects receive7% of the state money. Although it cannot be stated that there is a policy of investing the public money to contain the crisis. The constructors association (Confindustria) declared a -5,1% in the public demand in 2008, -8,1% in 2009 and a forecast of - 3,9% in 2010. Also the workers at risk to lose their job is between 200.000 and 300.000, several companies will close down. The big enterprises with organization and financial capabilities will survive. The small companies in the construction sector lost 25 - 30% of the market share.
The money that was to be spent for the smaller infrastructures was of 825 milion euros but the actual money for the plan was of 413 millions. Only 186 millions will be assigned for 2010.
Source: Il Sole 24 Ore_Jan 2010
The money that was to be spent for the smaller infrastructures was of 825 milion euros but the actual money for the plan was of 413 millions. Only 186 millions will be assigned for 2010.
Source: Il Sole 24 Ore_Jan 2010
Italy is out of the list of the countries at risk
According to Moody's rating the combination of the high public debt with a moderate growth, grants Italy away from important imbalance, such the once experienced in other European countries like Spain and Ireland.
The vulnerability of Italy has been included in rating Aa2 and does not forecasts new risks of instability. It has been stated by Alexander Kockerbeck, Moody's Analyst in charge of the evaluation of the Risk-Italy.
Ireland and Greece were stepped back in the rating, whilst Italy still maintains stabile position in Aa2 despite its debt/GDP above 100%. The question is if there is a margin to make support intervention to the Italian economy: with higher public expense or with tax reduction?
Mr. A. Kockerbeck thinks that there is no space to lower taxes in the next two years, and no way to help banks, although they didn't need any help. There are also no expectations that the economy will grow in a short time, with this kind of debt. The interesting reaction to the crisis that the Italian government is the "scudo fiscale" the fiscal shield and the fight against tax evaders, allowing a certain capital injection into the system. Even if in the near future the public debts will raise to incredible levels, never seen before, the structure of the Italian accounts is such to be apt to this situation of a high debt and a low growth, but in the mid-term a surplus return is needed to maintain the stability. In the past some EU countries lowered their debt, with an economic structure non sustainable, among them not Italy: they will have to manage their public accounts, and the high cost of the debt, beside revise their economic model. This problem is faced in the USA, GB, Ireland and Spain. The big challenge for the EU countries in 2010 will be the fiscal flexibility. The risk that the interests will rise, will bring a heavier cost of the debt. States heavier hit by the crisis, such as Greece, Spain, Ireland will not grow as they were doing before the crisis. Their public accounts are in a worst shape than they were before entering the Monetary Union. The EU is not only monetary union is also economic union: these economies will have to become more competitive.
Source: Il Sole 24 Ore_Jan 2010
The vulnerability of Italy has been included in rating Aa2 and does not forecasts new risks of instability. It has been stated by Alexander Kockerbeck, Moody's Analyst in charge of the evaluation of the Risk-Italy.
Ireland and Greece were stepped back in the rating, whilst Italy still maintains stabile position in Aa2 despite its debt/GDP above 100%. The question is if there is a margin to make support intervention to the Italian economy: with higher public expense or with tax reduction?
Mr. A. Kockerbeck thinks that there is no space to lower taxes in the next two years, and no way to help banks, although they didn't need any help. There are also no expectations that the economy will grow in a short time, with this kind of debt. The interesting reaction to the crisis that the Italian government is the "scudo fiscale" the fiscal shield and the fight against tax evaders, allowing a certain capital injection into the system. Even if in the near future the public debts will raise to incredible levels, never seen before, the structure of the Italian accounts is such to be apt to this situation of a high debt and a low growth, but in the mid-term a surplus return is needed to maintain the stability. In the past some EU countries lowered their debt, with an economic structure non sustainable, among them not Italy: they will have to manage their public accounts, and the high cost of the debt, beside revise their economic model. This problem is faced in the USA, GB, Ireland and Spain. The big challenge for the EU countries in 2010 will be the fiscal flexibility. The risk that the interests will rise, will bring a heavier cost of the debt. States heavier hit by the crisis, such as Greece, Spain, Ireland will not grow as they were doing before the crisis. Their public accounts are in a worst shape than they were before entering the Monetary Union. The EU is not only monetary union is also economic union: these economies will have to become more competitive.
Source: Il Sole 24 Ore_Jan 2010
Tuesday, February 2, 2010
Italian Retail Trade Index
Istat, the Italian National Statistics Institute has just published the results of a survey comparing the Annual Retail Trade Index in Nov 2009 with that of Nov. 2008.
Click here to view the tables.
The results can be summarized for each sector as follows (percentage changes - Index of Retail Trade - Nov. 2008/Nov. 2009) :
- 1.7% Food products
- 1.1% Non food products
+1.6% Pharmaceuticals
-3.1% Clothing
-4.7% Footwear and leather products
-2.4% Furniture, textiles and homeware
+9.2% Home appliances, TV and radio
-2.5% Equipment for IT and mobile
+5.3% Film and optics
-3.2% Kitchen and home supplies
-2.0% Hardware and tools
-3.1% Cosmetics and perfumes
-1.8% Books, newspapers and stationery
-2.2% Music instruments
-2.8% Toys and equipment for sport and camping
-2.9% Jewellery and watches
Tot - 1.3%
Click here to view the tables.
The results can be summarized for each sector as follows (percentage changes - Index of Retail Trade - Nov. 2008/Nov. 2009) :
- 1.7% Food products
- 1.1% Non food products
+1.6% Pharmaceuticals
-3.1% Clothing
-4.7% Footwear and leather products
-2.4% Furniture, textiles and homeware
+9.2% Home appliances, TV and radio
-2.5% Equipment for IT and mobile
+5.3% Film and optics
-3.2% Kitchen and home supplies
-2.0% Hardware and tools
-3.1% Cosmetics and perfumes
-1.8% Books, newspapers and stationery
-2.2% Music instruments
-2.8% Toys and equipment for sport and camping
-2.9% Jewellery and watches
Tot - 1.3%
The Italian market of the renewable energies
The economic crisis and higher energy bills push Italian companies to cut costs and consumption by looking for new suppliers, improving and making more efficient processes and infrastructures, but also installing equipment to produce their own energy from renewable sources. The photovoltaic "boom" will continue next year. However the bureaucracy should be reduced and simplified, the funding easier, the customers better informed and ensure business ROI of the new plants.
Italian manufacturing companies spend on average 7% of busines costs to energy expense. Approximately all the companies have taken into consideration ways to reduce consumption and costs by changing suppliers, improving the efficiency of production processes and building or installing facilities to produce renewable energy (11%). This solution will grow by 50% within a year and it was at least considered by almost 80% of the industry with over 50 employees. The level of satisfaction of those companies that have adopted these solution is fairly high and is very high for companies that have set up plants for renewable energies. One thing very interesting nevertheless the level of satisfaction is not based on a "consolidate experience" since these technologies have been installed just 16 months. Larger companies and those that have less energy expenditure, are the most active in reducing the energy costs. 90% of the companies that installed a plant to produce renewable energy said to pay attention to these costs and many companies have not decided yet how to act. So there is a very large potential market for the supply of equipment for renewable, composed of 26.7% of the whole sector considered.
Photovoltaic, installed by 6% is the technology with the greatest potential for development; its installation has been considered by at least 60% of the sample interviewed.
Biomass is used by 3% of the sample and at least considered by only 5%. Just 1.3% has declared to have installed Thermal Solar but it was considered at least by 11%. The Micro-Wind and Geothermal are absend (0.7%) and only 3% has reported to have taken them into account. The plants were installed 16 months ago and they cover 1/3 of the energy need of the enterprises.
The main obstacles to the adoption of solutions to reduce energy consumption are mostly financial (70% has declared that they have other financial priorities, while 57% declared that to have problem to in get funding) and bureaucratic (55%).
There is a widespread difficulty in assessing the economic returns on investments (48%), concerns about the quality of the facilities (42%) and their actual usefulness to the environment (39%).
Less decisive is the fear on the functioning of the technology (34%).
The use of photovoltaic for electricity generation is the biggest business in the field of solar energy in Italy. In 2008 it reached a turnover of 1.1 billion euros, with an increase of 150% compared to 2007. With over 360 companies (74% are national) active in June 2009, the Italian market is very dynamic but highly fragmented. It is possible to estiamte the gross operating profit generated in 2008 by Italian companies in the photovoltaic sector about 180 millions euros. However the majority of the profits go to foreing operators (Japanese, German, American, Chinese and Taiwanese). The Italian manufacturing companies have taken into consideration the oportunity to exploit renewable energies: 11% of them have already installed the plants, 6% has already planned to have one; 37% has seriously taken into consideration this option; 24%has just evaluated and 22% not at all.
Solar thermal which has a percentage of installation very low - 1.3% - was considered at least by 11% and it is the second solution with the greatest potential for the future development.
Italian manufacturing companies spend on average 7% of busines costs to energy expense. Approximately all the companies have taken into consideration ways to reduce consumption and costs by changing suppliers, improving the efficiency of production processes and building or installing facilities to produce renewable energy (11%). This solution will grow by 50% within a year and it was at least considered by almost 80% of the industry with over 50 employees. The level of satisfaction of those companies that have adopted these solution is fairly high and is very high for companies that have set up plants for renewable energies. One thing very interesting nevertheless the level of satisfaction is not based on a "consolidate experience" since these technologies have been installed just 16 months. Larger companies and those that have less energy expenditure, are the most active in reducing the energy costs. 90% of the companies that installed a plant to produce renewable energy said to pay attention to these costs and many companies have not decided yet how to act. So there is a very large potential market for the supply of equipment for renewable, composed of 26.7% of the whole sector considered.
Photovoltaic, installed by 6% is the technology with the greatest potential for development; its installation has been considered by at least 60% of the sample interviewed.
Biomass is used by 3% of the sample and at least considered by only 5%. Just 1.3% has declared to have installed Thermal Solar but it was considered at least by 11%. The Micro-Wind and Geothermal are absend (0.7%) and only 3% has reported to have taken them into account. The plants were installed 16 months ago and they cover 1/3 of the energy need of the enterprises.
The main obstacles to the adoption of solutions to reduce energy consumption are mostly financial (70% has declared that they have other financial priorities, while 57% declared that to have problem to in get funding) and bureaucratic (55%).
There is a widespread difficulty in assessing the economic returns on investments (48%), concerns about the quality of the facilities (42%) and their actual usefulness to the environment (39%).
Less decisive is the fear on the functioning of the technology (34%).
The use of photovoltaic for electricity generation is the biggest business in the field of solar energy in Italy. In 2008 it reached a turnover of 1.1 billion euros, with an increase of 150% compared to 2007. With over 360 companies (74% are national) active in June 2009, the Italian market is very dynamic but highly fragmented. It is possible to estiamte the gross operating profit generated in 2008 by Italian companies in the photovoltaic sector about 180 millions euros. However the majority of the profits go to foreing operators (Japanese, German, American, Chinese and Taiwanese). The Italian manufacturing companies have taken into consideration the oportunity to exploit renewable energies: 11% of them have already installed the plants, 6% has already planned to have one; 37% has seriously taken into consideration this option; 24%has just evaluated and 22% not at all.
Solar thermal which has a percentage of installation very low - 1.3% - was considered at least by 11% and it is the second solution with the greatest potential for the future development.
Subscribe to:
Posts (Atom)
