Imports - partners: Germany 16.3%, France 8.8%, China 7.1%, Netherlands 5.6%, Spain 5.3%, Belgium 4.5% )country comparison to the world (CIA rank, may be based on non-current data): 153 (2013 est. 16 (2017 est.) $1.101 trillion Industrial output recovered strongly in July-August, while the manufacturing PMI rose further in September, and business sentiment improved throughout Q3. $3.024 trillion $584.1 billion )country comparison to the world (CIA rank, may be based on non-current data): [61], However, the Italian economy of the 1980s presented a problem: it was booming, thanks to increased productivity and surging exports, but unsustainable fiscal deficits drove the growth. )country comparison to the world (CIA rank, may be based on non-current data): [see also: Stock of direct foreign investment - abroad country ranks ] 0.903 Inflation rate (consumer prices): [see also: Labor force country ranks ] $1.101 trillion 20 (31 December 2016 est. 3.5% 9 exports of goods and services: 31.4% In addition, the creation in 1957 of the European Common Market, with Italy as a founding member, provided more investment and eased exports. Imports - commodities: engineering products, chemicals, transport equipment, energy products, minerals and nonferrous metals, textiles and clothing; food, beverages, tobacco )country comparison to the world (CIA rank, may be based on non-current data): imports of goods and services: -28.3% (31 December 2017 est.) Fiscal year: calendar year $671.8 billion [see also: Budget - revenues country ranks ] 6 Central bank discount rate: (31 December 2017 est.) $584.1 billion 11.3% Reserves of foreign exchange and gold: $454.1 billion )country comparison to the world (CIA rank, may be based on non-current data): (2015 est.) (2016 est. [see also: Labor force - by occupation - industry country ranks ] Exchange rates: euros (EUR) per US dollar - 18.8% of GDP (2017 est. (2017 est.) (2017 est. 0.903 (31 December 2016 est.) (31 December 2017 est.) (2017 est.) $3.024 trillion (2017 est.) (31 March 2015 est. Market value of publicly traded shares: (2016 est.) [see also: Labor force - by occupation - agriculture country ranks ] (31 December 2015 est. 6 (2017 est.) 111 )country comparison to the world (CIA rank, may be based on non-current data): Reserves of foreign exchange and gold: Commercial bank prime lending rate: (31 December 2017 est.) [see also: Stock of direct foreign investment - abroad country ranks ] $615.5 billion Debt - external: )country comparison to the world (CIA rank, may be based on non-current data): 6 15. 9 Gross national saving: [see also: Household income or consumption by percentage share - lowest 10% country ranks ] [see also: Stock of direct foreign investment - abroad country ranks ] Imports - commodities: engineering products, chemicals, transport equipment, energy products, minerals and nonferrous metals, textiles and clothing; food, beverages, tobacco ), Gross national saving: (2017 est.) $1.101 trillion (31 December 2017 est.) Labor force - by occupation: $615.5 billion Debt - external: GDP - per capita: (2017 est. Exchange rates: euros (EUR) per US dollar - government consumption: 18.6% (1995)country comparison to the world (CIA rank, may be based on non-current data): [see also: Exports country ranks ] $552.1 billion $2.3 trillion note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro areacountry comparison to the world (CIA rank, may be based on non-current data): (31 December 2017 est.) More than previously, much will depend on economic policy choices, and es-pecially on how the Italian Parliament will manage the safeguard clauses that provides for a €23.1 billion increase in VAT and excise duties from January 1st, 2020. Reserves of foreign exchange and gold: [see also: Current account balance country ranks ] 0.7634 [see also: Industrial production growth rate country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): [92], Since the unification of Italy in 1861, a wide and increasing economic divide has been growing between the northern provinces and the southern half of the Italian state. )country comparison to the world (CIA rank, may be based on non-current data): Exchange rates: euros (EUR) per US dollar - 3% (2017 est.) (2015 est.) 139 )country comparison to the world (CIA rank, may be based on non-current data): (31 March 2015 est. $151.2 billion )country comparison to the world (CIA rank, may be based on non-current data): ), Stock of broad money: household consumption: 61% $480.5 billion 0.885 (2016 est. (31 December 2012) (2017 est.) (2016 est. The Road to LGBTI Inclusion - How does Italy compare? 27.3 (31 December 2012) (2016 est. 0.903 (31 December 2017 est.) The day of reckoning has now come for the Italian economic crisis, worsened by the Covid-19 pandemic and the related lockdown. $3.024 trillion (31 March 2015 est. Public debt: Lockdowns and uncertainty are weighing on activity, although government support has mitigated the effects on firms and households. $552.1 billion Economy - overview: $151.2 billion (2017 est.) (2017 est. [see also: Debt - external country ranks ] [see also: Current account balance country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): [see also: Household income or consumption by percentage share - lowest 10% country ranks ] 15 $671.8 billion In particular, the deep water port of Trieste in the northernmost part of the Mediterranean Sea is the target of Italian, Asian and European investments. 0.9214 )country comparison to the world (CIA rank, may be based on non-current data): [see also: GDP - composition, by end use - investment in fixed capital country ranks ] -0.1% In Central Italy instead are average. (31 December 2013) 9 $454.1 billion The Allied invasion of Italy in 1943 eventually caused the Italian political structure – and the economy – to rapidly collapse. 68 )country comparison to the world (CIA rank, may be based on non-current data): [see also: Market value of publicly traded shares country ranks ] Inflation rate (consumer prices): 0.885 Reserves of foreign exchange and gold: (31 March 2016 est.) (31 December 2016 est. [see also: Debt - external country ranks ] Exports - partners: Germany 12.5%, France 10.3%, US 9%, Spain 5.2%, UK 5.2%, Switzerland 4.6% (31 December 2017 est.) 0.9214 13 9 Stock of domestic credit: Industrial production growth rate: 2.1% 174 Debt - external: $671.8 billion 16 128 Debt - external: (31 December 2017 est.) [see also: Labor force - by occupation - industry country ranks ] $432.9 billion Inflation rate (consumer prices): (2017 est. Public debt: Italy will be Europe's canary in the coalmine for the post-Covid economy ... Tue 17 Mar 2020 03.30 EDT Last modified on Wed 1 Jul 2020 13.13 EDT. (2017 est.) (2017 est.) 111 The remainder is primarily dedicated to pastures (25.9%) and feed grains (11.6%). (31 December 2016 est. Population below poverty line: 29.9% 0.885 $2.444 trillion $47.64 billion 5 ISTAT defines relative poverty as people whose disposable income is less than around half the national average. [see also: Stock of domestic credit country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2017 est.) [see also: Reserves of foreign exchange and gold country ranks ] [see also: Imports country ranks ] (2015 est. 16 [see also: Budget - expenditures country ranks ] Stock of direct foreign investment - at home: The European Union predicted the same for 2020 — before the coronavirus arrived from China. Labor force - by occupation: $671.8 billion 121 68 [see also: GDP - composition, by sector of origin - services country ranks ] Exchange rates: euros (EUR) per US dollar - (31 December 2016 est. Stock of direct foreign investment - abroad: )country comparison to the world (CIA rank, may be based on non-current data): [see also: Imports country ranks ] ... Italy looks like the economy most exposed to the consequences of the new … 174 Current account balance: (2016 est. (2017 est. $587.3 billion (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. 0.885 (2017 est.) 11.3% (31 December 2015 est. 17 121 Market value of publicly traded shares: [62] The consequent restrictive economic policies worsened the impact of the global recession already underway. [see also: Current account balance country ranks ] [see also: GDP - per capita country ranks ] 132% of GDP [see also: Reserves of foreign exchange and gold country ranks ] [see also: Labor force - by occupation - industry country ranks ] (31 December 2017 est.) $2.444 trillion $454.1 billion 128 [see also: GDP - composition, by end use - investment in fixed capital country ranks ] (2017 est.) (2017 est.) $2.3 trillion )country comparison to the world (CIA rank, may be based on non-current data): [see also: Stock of direct foreign investment - at home country ranks ] (2017 est.) ), Exports - partners: Germany 12.5%, France 10.3%, US 9%, Spain 5.2%, UK 5.2%, Switzerland 4.6% (31 December 2013 est.) In 2017, overall unemployment was 11.4%, but youth unemployment remained high at 37.1%. (2017 est. 16 (31 December 2014 est.) (31 December 2017 est.) 132% of GDP )country comparison to the world (CIA rank, may be based on non-current data): 9 20 Debt - external: 15 Household income or consumption by percentage share: (31 December 2017 est.) [see also: Imports country ranks ] (31 December 2015 est. (2017 est.) 6 (31 December 2017 est.) 1.3% )country comparison to the world (CIA rank, may be based on non-current data): 0.7634 [see also: Stock of direct foreign investment - abroad country ranks ] Sommario di statistiche storiche 1861–2010", "Italian Stock Exchange: Main Indicators (1975–2012)", "Italy: General government gross debt (Percent of GDP)", "Quarterly Growth Rates of real GDP, change over previous quarter", "Berlusconi to resign after parliamentary setback", "Could Italy Be Better Off than its Peers? [see also: Gross national saving country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): While a number of private railroads exist and provide mostly commuter-type services, the national railway also provides sophisticated high-speed rail service that joins the major cities. [see also: Reserves of foreign exchange and gold country ranks ] 31.9 (2017 est.) His work has appeared in the Guardian , Al Jazeera , … 153 [see also: GDP - composition, by sector of origin - agriculture country ranks ] -0.1% (31 December 2016 est. note: see entry for the European Union for money supply for the entire euro area; the European Central Bank (ECB) controls monetary policy for the 18 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borderscountry comparison to the world (CIA rank, may be based on non-current data): )country comparison to the world (CIA rank, may be based on non-current data): industry: 28.3% (2015 est.) $151.2 billion 20 9, country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. 171 $2.3 trillion Distribution of family income - Gini index: 20.3% of GDP 0.75% Imports - commodities: engineering products, chemicals, transport equipment, energy products, minerals and nonferrous metals, textiles and clothing; food, beverages, tobacco 16 note: Italy reports its data on public debt according to guidelines set out in the Maastricht Treaty; general government gross debt is defined in the Maastricht Treaty as consolidated general government gross debt at nominal value, outstanding at the end of the year, in the following categories of government liabilities (as defined in ESA95): currency and deposits (AF.2), securities other than shares excluding financial derivatives (AF.3, excluding AF.34), and loans (AF.4); the general government sector comprises central, state, and local government and social security fundscountry comparison to the world (CIA rank, may be based on non-current data): 9 (2015 est. services: 67.8% [see also: GDP - composition, by end use - household consumption country ranks ] (2017), Exports - commodities: engineering products, textiles and clothing, production machinery, motor vehicles, transport equipment, chemicals; foodstuffs, beverages, and tobacco; minerals, nonferrous metals, Imports: $615.5 billion [see also: Stock of narrow money country ranks ] In 1991 the TAV was created for the planning and construction of high-speed rail lines along Italy's most important and saturated transport routes (Milan-Rome-Naples and Turin-Milan-Venice). 0.7634 $432.9 billion The Italian economy will begin a fragile recovery in 2021, but a return to pre-crisis levels is unlikely before 2024. (31 December 2014 est.) 95 )country comparison to the world (CIA rank, may be based on non-current data): GDP - per capita: Current account balance: )country comparison to the world (CIA rank, may be based on non-current data): Imports - partners: Germany 16.3%, France 8.8%, China 7.1%, Netherlands 5.6%, Spain 5.3%, Belgium 4.5% [see also: Debt - external country ranks ] (31 December 2014 est.) [see also: Stock of narrow money country ranks ] 139 (31 December 2017 est.) (31 December 2017 est.) $584.1 billion [see also: GDP - composition, by end use - government consumption country ranks ] (2017 est.) (2013 est. 17 Exchange rates: euros (EUR) per US dollar - ), Stock of narrow money: (2016 est. [see also: GDP - composition, by end use - imports of goods and services country ranks ] (2013 est. The economy of Italy is the third-largest national economy in the European Union, the eighth-largest by nominal GDP in the world, and the 12th-largest by GDP (PPP). 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