Italy

It is a turbulent time for Italian non-ferrous metals operators. Clearly, the economic development of our small and medium-sized enterprises must necessarily involve growing internal management skills, that is, the set of cultural and experiential tools that make the difference.

The service sector remains the main driver of the Italian economy. Today it accounts for 58% of national added value compared to 49% in 1995, thanks primarily to the growth of advanced services and digitalisation. In recent years, the sector has seen significant growth: between 2019 and 2024, information and communications technology services increased by 21% and professional services by 30%.

Despite the sector’s growth, a report from Centro studi di Unimpresa indicates only 28% of Italian companies achieve a very high level of digital intensity; this compares to a European average of 38%. Unfortunately, contextual factors such as excessive bureaucracy and taxation prevent us from focusing on the winning combination: higher productivity where employment grows.

The allure of homes and wealth deposited in foreign accounts continues: the number of taxpayers declaring these is growing, as is the overall value and taxes paid. Tax returns for 2025 confirm the continuing trend of increased cross-border investments - investments that are then reported to the tax authorities through the tax return form.

The Italian economy is consolidating the signs of strengthening seen in recent weeks. Following GDP growth in the first quarter of 2026, retail sales data released by Istat indicate improved domestic demand and greater household spending power. In March, retail sales increased by 0.8% in value compared to the previous month and by 0.7% in volume, while on an annual basis the increases were, respectively, 3.7% and 2.1%. This growth is due not only to the effect of inflation and rising prices but also to the volumes purchased - a sign of expanding real consumption.

The positive trend in consumption is part of a macro-economic framework that, in the first half of the year, appears more robust than was expected at the end of 2025. In a still-complex and unstable international environment, these figures demonstrate that Italy is approaching 2026 with a more solid economic foundation, thanks to employment growth, greater income stability and a climate of confidence that must be supported with prudent yet development-oriented economic policies.

Consumption dynamics also take on strategic importance in a period characterised by strong international instability, energy tensions and geopolitical uncertainties.