Italy

The Gross Domestic Product of Italy is $1,045 billion U.S, 5^th in the world.
Italy depends heavily on foreign imports because natural resources are limited.
Manufacturing is an important part of the economy; it accounts for 25% of the GDP and 90% of Italy's total merchandise export.
On January 1, 1999 Italy was one of the 11 Western European countries that converted to the euro currency, the monetary unit of the European Union.
There has been poor growth performance in the past decade due in large part to government reforms and competition from Asian markets.

Italians are generally receptive to new ideas and changes.
Over 7,500 U.S. companies are represented in Italy, including approximately 850 subsidiaries.
The retail distribution sector is by far the largest in total sales, and is made up of everything from small family-owned stores to large retail businesses.
Franchising is growing at a fast pace—Italy has one of the highest numbers of operating franchises in Europe.
Corporate joint ventures are common in Italy.
Advertising has grown significantly in volume, importance, and sophistication.

Appearances can be important in Italy, so it is always a good idea to present oneself accordingly.
Hierarchical structure is emphasized in business and in different aspects of society.
Business cards are important. If possible, they should be translated on the back, and include your full business position and any advanced educational degrees.
Business lunches are common and can last up to three hours.
Dress is very formal and professional; dark, well-cut, designer suits are preferred.
Bring a translator during important business situations.

DO's	DON'Ts
Knock on closed doors when entering and close doors behind you when leaving.	Raise hands or fingers; it is considered offensive.
Keep wrists and hands over the table, especially when dining.	Give gifts of brooches, handkerchiefs, or chrysanthemums; they are associated with death and mourning.
Use appropriate titles followed by a last name, unless told otherwise.	Complement or reward employees in public.
Shake hands individually during introductions and departures.	Depart with a typical American "group wave". it is considered disrespectful.

Based on a civil law system.
Judicial Review is practiced only under certain conditions in the Constitutional Court.
Appeals are treated as new trials.

GDP is projected to rise by 2.75% in 2001 and some 2.5% in 2002.
The labor market will continue to strengthen, but there continues to be a 16.25% unemployment gap between the north and south.
Consumer price inflation has risen to 2.5% in the third quarter of 2000 and will continue to rise if prices of gasoline continue to rise.

ITALY