The economy of Milan, Monza Brianza and Lodi continues to grow: +4.7%

The 33rd Annual Report “Productive Milano 2023”, made by the Statistical Studies and Programming Service of the Milan Monza Brianza Lodi Chamber of Commerce, presents the economic performance of the three Lombard provinces amid geopolitical and economic uncertainties.

In 2022, the economy of the three Lombard provinces grew by 4.7%, led by Milan (+ 5% increase in added value) followed by Lodi (+3.8%) and Monza Brianza (+2, 9%). The construction (+9.1%) and services (+5.4%) sectors played a decisive role for the achievement of these results, contributing to the territory’s €11 billion surplus compared to the pre-pandemic situation.

This is what emerges from the 33rd Annual Report “Productive Milano 2023”, made by the Statistical Studies and Programming Service of the Milan Monza Brianza Lodi Chamber of Commerce.

The entrepreneurial fabric also resisting uncertainties: 9,012 more companies, for a growth of 1.9%. The territory recorded a trend, better than the national (+0.8%) and the Lombardy ones (+1.2%). All this translates into almost 390,000 companies operating in the three territories.

Internationalization creates new opportunities for companies, with exports handle the pressure and rising to nearly €75 billion (+23.1).

As for the labor market, the signs of growth highlighted for the economy are noted: in Milan, Monza Brianza and Lodi there are about 2 million employed people, equal to 45% of the total in Lombardy and 8.6% of workers in Italy.

The macro area of Milan, Monza Brianza and Lodi is also attractive also for foreign companies. According to Reprint data, the three provinces are home to 5,313 foreign-invested companies (which amount to 7,031 in the entire region), employing 590,000 employees and recording an aggregate turnover of €305.3 billion, respectively 33.5%, 37% and 39.1% of the national total. Encouraging numbers also for foreign-controlled businesses, 4,990 throughout the territory (compared to the 6,450 businesses in all of Lombardy), employing 554,000 workers and achieving an aggregate turnover of €280 billion.

Find all the information in the full press release on the Milan Monza Brianza Lodi Chamber of Commerce website.