Abstract
The article discusses the chief factors leading to Italy’s heavy trade deficit of 1951-52. In spite of the deterioration of the situation in 1952, the relevant authorities in Italy have not yet thought it advisable to follow other countries in the direction of export drives and import restrictions. Italy’s special economic conditions and her dependence on effective international cooperation make it advisable for her to direct her commercial policy along orthodox lines, continuing o support trade liberalisation and to resist the trend towards import restrictions. Only if other countries were to continue restricting imports, while increasing aids to exports, would Italy perhaps be obliged to abandon her present policies. The Italian trade crisis thus resolves itself into a problem of international co-operation, which alone can meet the fundamental needs of the Italian economy, suffering as it does from a structural disequilibrium between natural resources and population.
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