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6.5 Billion Euros for Italian Economy
Nickel Magazine, March 2005 -- Nickel and its value-chain adds an estimated 6.5 billion Euros per year to the economy of Italy, according to a socio-economic study by The Weinberg Group, an international science and regulatory consulting firm. The study was commissioned by the Nickel Institute to examine the socio-economic aspects relating to nickel in Europe.
Italy is a major user of nickel. Total Italian use in 2002 was 117,000 tonnes, which represented about 16% of European Union demand. Demand for the metal is satisfied by a combination of imports of refined nickel and the recycling of existing nickel products.
Whilst the nickel industry in Italy is relatively small, it has a significant impact on the Italian economy through its value chain. Italy is not only a major nickel stainless steel producer. It is also a major fabricator and producer of goods and equipment in these alloys.
Total employment in Italy in the direct nickel industry, so-called first use industries and intermediaries and end-use industries that are critically dependent on nickel is estimated to be about 70,000. Some 35,000 additional jobs have been created in the economy through income and supplier multiplier effects and capital expenditure effects.
MAP: Constructive Communications
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