header HomePlacesMapsMap Products & ServicesHotels & TravelDestination GuidesWeb DirectoryContact

Italy:
Economy

Flag of Italy
Click to enlarge

Italy Page


Economy - overview
Definition
Italy has a diversified industrial economy with roughly the same total and per capita output as France and the UK. This capitalistic economy remains divided into a developed industrial north, dominated by private companies, and a less-developed, welfare-dependent, agricultural south, with 20% unemployment. Most raw materials needed by industry and more than 75% of energy requirements are imported. Over the past decade, Italy has pursued a tight fiscal policy in order to meet the requirements of the Economic and Monetary Unions and has benefited from lower interest and inflation rates. The current government has enacted numerous short-term reforms aimed at improving competitiveness and long-term growth. Italy has moved slowly, however, on implementing needed structural reforms, such as lightening the high tax burden and overhauling Italy's rigid labor market and over-generous pension system, because of the current economic slowdown and opposition from labor unions. But the leadership faces a severe economic constraint: Italy's official debt remains above 100% of GDP, and the government has found it difficult to bring the budget deficit down to a level that would allow a rapid decrease in that debt. The economy continues to grow by less than the euro-zone average and growth is expected to decelerate from 1.9% in 2006 and 2007 to under 1.5% in 2008 as the euro-zone and world economies slow.
GDP (purchasing power parity)
Definition - World rank and map
$1.786 trillion (2007 est.)
GDP (official exchange rate)
Definition
$2.105 trillion (2007 est.)
GDP - real growth rate
Definition - World rank and map
1.5% (2007 est.)
GDP - per capita
Definition - World rank and map
$30,400 (2007 est.)
GDP - composition by sector
Definition
agriculture: 1.9%
industry: 28.9%
services: 69.2% (2007 est.)
Labor force
Definition
24.71 million (2007 est.)
Labor force - by occupation
Definition
agriculture: 5%
industry: 32%
services: 63% (2001)
Unemployment rate
Definition - World rank and map
6% (2007 est.)
Population below poverty line
Definition
NA%
Household income or consumption by percentage share
Definition
lowest 10%: 2.3%
highest 10%: 26.8% (2000)
Distribution of family income - Gini index
Definition - World rank and map
33 (2005)
Inflation rate (consumer prices)
Definition - World rank and map
2% (2007 est.)
Investment (gross fixed)
Definition - World rank and map
21.6% of GDP (2007 est.)
Budget
Definition
revenues: $981.8 billion
expenditures: $1.021 trillion (2007 est.)
Public debt
Definition - World rank and map
104% of GDP (2007 est.)
Agriculture - products
Definition
fruits, vegetables, grapes, potatoes, sugar beets, soybeans, grain, olives; beef, dairy products; fish
Industries
Definition
tourism, machinery, iron and steel, chemicals, food processing, textiles, motor vehicles, clothing, footwear, ceramics
Industrial production growth rate
Definition - World rank and map
1.5% (2007 est.)
Electricity - production
Definition - World rank and map
278.5 billion kWh (2005)
Electricity - consumption
Definition - World rank and map
307.1 billion kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
5,281.6 kWh (2005)
Electricity - exports
Definition
1.109 billion kWh (2005)
Electricity - imports
Definition
50.26 billion kWh (2005)
Oil - production
Definition - World rank and map
164,800 bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
1.732 million bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
29.8 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
521,400 bbl/day (2004)
Oil - imports
Definition - World rank and map
2.182 million bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
621.7 million bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
11.49 billion cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
82.64 billion cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
1,421 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
379.8 million cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
70.45 billion cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
217.3 billion cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
-$47.25 billion (2007 est.)
Exports
Definition - World rank and map
$501.4 billion f.o.b. (2007 est.)
Exports - commodities
Definition
engineering products, textiles and clothing, production machinery, motor vehicles, transport equipment, chemicals; food, beverages and tobacco; minerals, and nonferrous metals
Exports - partners
Definition
Germany 12.9%, France 11.4%, Spain 7.4%, US 6.8%, UK 5.8% (2006)
Imports
Definition - World rank and map
$498.6 billion f.o.b. (2007 est.)
Imports - commodities
Definition
engineering products, chemicals, transport equipment, energy products, minerals and nonferrous metals, textiles and clothing; food, beverages, and tobacco
Imports - partners
Definition
Germany 16.9%, France 9%, China 5.9%, Netherlands 5.5%, Belgium 4.3%, Spain 4.2% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$94.33 billion (31 December 2007 est.)
Debt - external
Definition - World rank and map
$2.345 trillion (30 June 2007)
Stock of direct foreign investment - at home
Definition
$324.3 billion (2007 est.)
Stock of direct foreign investment - abroad
Definition
$460.7 billion (2007 est.)
Market value of publicly traded shares
Definition
$798.2 billion (2005)
Economic aid - donor
Definition
ODA, $3.641 billion (2006)
Currency (code)
Definition
euro (EUR)
Exchange rates
Definition
euros per US dollar - 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003)
Fiscal year
Definition
calendar year


Google
 
Web sitesatlas.com