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Today Milan is Italy's second largest city after Rome and its economic heart. It has the highest per capita income in Italy.

Milan leads Italian cities in the manufacture of chemicals and textiles. Other important products include aircraft, motorcars, foodstuffs, clothing, glass, leather and rubber goods, machinery, pharmaceuticals, and plastics. The city has a large book and music publishing industry, many banks, and the principal stock exchange of Italy. The city has a large construction industry, and it is one of the most important silk markets in Europe.

An international trade fair is held here annually in April.