The economy of Rome is primarily based on the light industry, banking service and tourism industry. Education and media also plays a significant role in Roman economy. The economy of Rome started to grow after the unification of Italy in 1870. Rome is the political, cultural and administrative center of Italy with a total population of 2.656.000(2001 census data).
Industrial Sectors in Rome
The primary sector in Rome principally involves the production of raw materials including corn and industrial mines. The industrial metal manufacturing units play a vital role in the development of Roman economy. Other significant industries in Rome include banking, tourism and real estate industry.
Rome contributes a major portion to the overall GDP (Gross Domestic Product) of the country. Rome continues to grow at a higher rate than rest of the cities in Italy. The economic condition of Rome started to improve after the end of World War II. After the World War II, Rome evolved as an industrial city with a large number of factories including chemicals, printing, electronics, engineering, clothing and food processing. Some other important industries in Rome include motor vehicles, footwear, machinery and pharmaceuticals.
Rome has a diversified industrial economy. The economic growth of Rome primarily depends on the processing and manufacturing of goods. The manufacturing industry of Rome is primarily dominated
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by small and medium sized firms. Tourism industry plays a significant role in overall development of Rome. One of the important sectors in Rome is Luxury goods industry.
- Trade Partners: Rome maintains a good trade relationship with major European countries and USA. Some of the major trade partners of Rome include France, Germany, Spain and Netherlands.
- The major agricultural products in Rome include fruits, rice and vegetables.
- Significant export items in Rome include engineering products, wine, textile and clothing, motor vehicles, chemicals, transport equipments, food and beverages, minerals, tobacco, wool, olive oil, gold coins, glassware, metal weapons and tools purple fabric.
Some of the major exporting countries include France, US, Germany, UK, Spain and Switzerland. Major import items in Rome include energy products, minerals, metals, pepper, grain, nutmeg, cloves, frankincense, pearls, cotton and silk. Some of the major importing countries include Netherlands, France, UK, Belgium, China and Spain.
The economy of Rome provides complete information on the financial condition and main occupation of the local inhabitants of the city.
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