ECONOMY
The annual report of Mediobanca recognizes the effects of relocation, especially on employment
Saturday, August 9, 2014 17:13
Effect relocation: at least 67% of the so-called Made in Italy is produced abroad. The data come from the report of Mediobanca which detects how large multinational companies have relocated their Italian production, with serious impacts on employment.
In his usual ratio R & amp; S, which analyzes the cumulative data of over 2 thousand groups flying the Italian flag, the research department of Mediobanca, the leading Italian investment bank, let us know by now pche flag in hand, Made in Italy is very little. Not only in 2013 the major manufacturing groups with Italian multinational organization have produced 67% of their assets abroad, but also the turnover is generated by 91% over the border and only 9% in Italy.
Data that have a particularly strong impact on employment, which was down 5% from 2008, the last year before the crisis, and 2013.
The relocation size mainly blue-collar (-7.8%) compared to white-collar workers (-1.3%). The working-class base, however, remains higher in medium-sized enterprises (63%) compared with large manufacturing (52%). Heavy hand on employment by public companies (-9.2% since 2008) and also in the sharp decline in manufacturing (-5.7%), where they cut jobs, especially the foreign-controlled enterprises (-11.3% ). Staff reductions in the lower medium-sized enterprises (-2.1%) and the Made in Italy in Italian control (-2.2%), while it decreased by 10.6% as controlled by foreign hands.
As for sales, 91% of foreign enterprises is divided between Italian exports (24%), ie goods produced in Italy and sold in other markets, and the so-called “foreign to foreign” (67%), consists of goods produced and sold abroad. The 2,050 Italian companies studied by the Center for Studies of Mediobanca represent the totality of the industrial enterprises with over 500 employees, which in turn express approximately 50% of revenues and 57% of manufacturing exports.
One interesting fact is that the public showed an increase of 6.1% and 4.7% drop in private.
Public companies, needless to say, have been encouraged by tariff regimes in which they operate, while private ones are paying the 6% drop in the manufacturing sector. With regard to medium-sized businesses, have seen their sales grow by 0.9%, while the “Made in Italy” is fine if only in Italian hands, with a decline limited to 0.8%.
25% of “Made in Italy” controlled by foreigners, on the other hand, has seen its sales fall by 11.1%. He suffered finally the tertiary sector (-1.5%), mainly due to the decline in telecommunications (18.2%) and on television (-9%). Boom instead for construction firms (16.2%), constituted by the great ‘contractor’ of infrastructure, especially in foreign shipyards.
The fact remains, however, that the margins of the 2050 X-rayed companies are literally collapsed (-42.5%) compared to pre-crisis levels of 2007 Also in this case to better withstand the impact of the crisis were medium-sized enterprises, while the larger companies have had negative margins.
Also decreased investment, which fell by 40.6% in the decade from 2004 to 2013, most in the audience (-53.8%) than in the private (-30.3%). Sore point: the limited funding from the banks. Thirty-three billion of non-credit in 4 years is the figure calculated by Mediobanca.
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