An Overview of the Economy
Italy's economic strength is in the processing and manufacturing
of goods, primarily in small and medium sized family-owned firms.
The country has been less successful in terms of developing world
class multinational corporations. In addition, the small and
medium-sized firms typically manufacture products that are
moderately technologically advanced and therefore face
international competition.
| statistics |
|
| GDP (PPP) (IMF) (US$Trillions) |
1.756 |
| GDP (PPP) (CIA) (US$Trillions) |
1.786 |
| GDP Growth (IMF) (%) |
1.9% |
| GDP Growth (CIA) (%) |
1.5% |
| GDP Per Capita (IMF) (US$) |
30,200 |
| GDP Per Capita (CIA) (US$) |
30,400 |
| GDP by Sector (%) |
Agriculture: 1.9%
Services: 28.9%
Industry: 69.2% |
| Inflation (%) |
2% |
| Population Below the Poverty Line (%) |
- |
| Labour Force (Millions) |
24.71 |
| Labour Force by Occupation (%) |
Agriculture: 5%
Services: 63%
Industry: 32% |
| Unemployment (%) |
6% |
| Main Industries |
Tourism, machinery, iron and steel, chemicals,
food processing, textiles, motor vehicles,
clothing, footwear, ceramics. |
Source: IMF, CIA World Factbook
GDP
| economic indicators |
2003 |
2004 |
2005 |
2006 |
2007 |
| GDP (US$Billions) |
1,510 |
1,730 |
1,779 |
1,858 |
2,104 |
| GDP Growth (%) |
-0.014 |
1.529 |
0.551 |
1.841 |
1.457 |
| GDP Per Capita (US$) |
26,308 |
30,119 |
30,639 |
31,801 |
35,872 |
| GDP Per Capita (PPP) (US$) |
26,419 |
27,433 |
28,107 |
29,347 |
30,448 |
| Inflation (%) |
2.81% |
2.27% |
2.21% |
2.22% |
2.04% |
| Unemployment (%) |
8.4% |
8.0% |
7.7% |
6.8% |
6.0% |
| Mobile phone Users |
20,500,000 |
55,918,000 |
55,918,000 |
72,200,000 |
72,200,000 |
| Internet Users |
22,800,000 |
28,870,000 |
28,870,000 |
28,600,000 |
28,855,000 |
Source: IMF, CIA World Factbook
Major Exports & Imports
Italy's major exports are precision machinery, motor vehicles,
chemicals and electric goods, but the country's more famous exports
are in the fields of food, clothing, and luxury vehicles.
Major Exports 2007
Engineering products and transport equipment, textiles and
clothing, production machinery, motor vehicles, non ferrous metals,
chemicals, food, beverages and tobacco.
Major imports 2007
Engineering products and transport equipment, chemicals, energy
products, minerals and non ferrous metals, textiles and clothing,
food and beverages, tobacco.
| Export partners 2007 |
% of total |
| Germany |
13.2% |
| France |
11.8% |
| US |
7.4% |
| Spain |
7.4% |
| UK |
6.1% |
| import partners 2007 |
% of total |
| Germany |
16.8% |
| Italy |
9.3% |
| Netherlands |
5.6% |
| China |
5.1% |
| Spain |
4.35% |
| Belgium |
4.2% |
Source: CIA World Factbook
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