[see also: Exports country ranks ] 121, country comparison to the world (CIA rank, may be based on non-current data): Household income or consumption by percentage share: $389.8 billion 9 (2017 est.) [see also: Commercial bank prime lending rate country ranks ] Exports - partners: Germany 12.5%, France 10.3%, US 9%, Spain 5.2%, UK 5.2%, Switzerland 4.6% 111 [see also: Gross national saving country ranks ] 0.885 (31 December 2013 est.) [see also: Unemployment rate country ranks ] [98] A similar logic guided the assignment of monopoly rights in the steamboat construction and navigation sectors and, above all, the public spending in the railway sector, which represented 53% of the 1861-1911 total. )country comparison to the world (CIA rank, may be based on non-current data): 11.3% 0.25% (2014 est.) [see also: Exports country ranks ] (2017 est.) $1.347 trillion (31 March 2016 est.) [see also: Commercial bank prime lending rate country ranks ] (2016 est. Imports - partners: Germany 16.3%, France 8.8%, China 7.1%, Netherlands 5.6%, Spain 5.3%, Belgium 4.5% [see also: Unemployment rate country ranks ] The European Union predicted the same for 2020 — before the coronavirus arrived from China. Economic Forecast Summary (December 2020) After falling sharply in 2020, GDP is projected to expand by 4.3% in 2021 and 3.2% in 2022. $130.6 billion Share on Facebook ... it stands apart from the rest of the euro area on its poor economic fundamentals. 0.885 (2012 est.) Stock of domestic credit: [see also: Budget surplus (+) or deficit (-) country ranks ] 15 Stock of direct foreign investment - at home: (2016 est.) 132% of GDP [see also: Stock of direct foreign investment - at home country ranks ] $480.5 billion 15 15 27.3 $480.5 billion 0.7634 $389.8 billion 68 $151.2 billion (31 March 2016 est.) )country comparison to the world (CIA rank, may be based on non-current data): $1.101 trillion $552.1 billion 3% 20 Feb 28, 2020 Paola Subacchi. (2012 est.) $671.8 billion $1.101 trillion [see also: GDP - composition, by end use - exports of goods and services country ranks ] (2013 est. [see also: GDP - composition, by end use - government consumption country ranks ] Stock of direct foreign investment - abroad: [see also: Central bank discount rate country ranks ] Central bank discount rate: [see also: Stock of direct foreign investment - abroad country ranks ] [49] Trying to handle the crisis, the Fascist government nationalized the holdings of large banks which had accrued significant industrial securities, establishing the Istituto per la Ricostruzione Industriale. $3.024 trillion )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. [see also: Stock of domestic credit country ranks ] $454.1 billion $432.9 billion (31 December 2017 est.) 17 [see also: Inflation rate (consumer prices) country ranks ] services: 73.9% 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): 139 Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: $471.7 billion In 2015, the proportion of poor households in relative poverty also increased to 13.7 from 12.9 in 2014. Exchange rates: euros (EUR) per US dollar - The Allies, on the one hand, and the Germans on the other, took over the administration of the areas of Italy under their control. 20 [see also: Imports country ranks ] 0.885 Exports - partners: Germany 12.5%, France 10.3%, US 9%, Spain 5.2%, UK 5.2%, Switzerland 4.6% $1.101 trillion (31 December 2016 est.) )country comparison to the world (CIA rank, may be based on non-current data): (31 March 2015 est. $454.1 billion $2.444 trillion 0.9214 9 1.3% 11.3% The lira fell steadily, from 560 lira to the U.S. dollar in 1973 to 1,400 lira in 1982. $552.1 billion (2012 est.) (31 December 2016 est. 9 )country comparison to the world (CIA rank, may be based on non-current data): 16 0.25% (2017 est.) Industrial production growth rate: 2.1% 15 9 (31 December 2017 est.) (2017 est.) 50 [see also: Budget - expenditures country ranks ], Taxes and other revenues: 46.6% (of GDP) [see also: Exports country ranks ] 15 [see also: Taxes and other revenues country ranks ] (31 December 2016 est. ), Budget surplus (+) or deficit (-): -2.3% (of GDP) (31 December 2017 est.) (2017 est.) (2017 est.) Exports - commodities: engineering products, textiles and clothing, production machinery, motor vehicles, transport equipment, chemicals; foodstuffs, beverages, and tobacco; minerals, nonferrous metals Fiscal year: calendar year Imports: $587.3 billion [see also: Market value of publicly traded shares country ranks ] [see also: Stock of narrow money country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): 17, country comparison to the world (CIA rank, may be based on non-current data): (31 December 2017 est.) (2017 est.) Public debt: $552.1 billion The following is a list of the main Italian banks and insurance groups ranked by total assets and gross premiums written. $1.101 trillion [see also: Labor force - by occupation - services country ranks ] Stock of direct foreign investment - abroad: )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2014 est.) [see also: Reserves of foreign exchange and gold country ranks ] 0.903 $1.101 trillion 13 $471.7 billion imports of goods and services: -28.3% (2016 est. Fiscal year: calendar year 0.9214 6 121 $47.64 billion )country comparison to the world (CIA rank, may be based on non-current data): Gross national saving: $2.3 trillion )country comparison to the world (CIA rank, may be based on non-current data): (31 March 2016 est.) $53.42 billion Imports: Imports: 174 $151.2 billion $454.1 billion expenditures: 948.1 billion $552.1 billion $53.42 billion )country comparison to the world (CIA rank, may be based on non-current data): 131.8% of GDP (31 December 2013 est.) [126] In the south of Italy the numbers are even higher, with 10% living in absolute poverty, up from 9 percent in 2014. )country comparison to the world (CIA rank, may be based on non-current data): 174 [see also: GDP - composition, by sector of origin - agriculture country ranks ] 6 $671.8 billion The most famous Italian wines are probably the Tuscan Chianti and the Piedmontese Barolo. )country comparison to the world (CIA rank, may be based on non-current data): (2015 est.) [see also: Stock of narrow money country ranks ] Imports: 9, country comparison to the world (CIA rank, may be based on non-current data): GDP - composition, by end use: 0.7634 The impact of new coronavirus-related restrictions since November is likely to be less dramatic than in Q2 2020. 15 11.7% $552.1 billion (2017) )country comparison to the world (CIA rank, may be based on non-current data): 0.885 (2013 est. $671.8 billion 20.3% of GDP $2.3 trillion (2017 est. (2012 est.) (31 December 2017 est.) (2017 est.) Exchange rates: euros (EUR) per US dollar - [91], The following top 10 list of Italian billionaires is based on an annual assessment of wealth and assets compiled and published by Forbes in 2017. 174 [see also: Stock of broad money country ranks ] $471.7 billion 3.5% -0.1% $671.8 billion Stock of direct foreign investment - at home: 0.9% (2016 est. Fascist policy aimed at the creation of an Italian empire and Southern Italian ports were strategic for all commerce towards the colonies. [see also: GDP - composition, by sector of origin - agriculture country ranks ] Exports - commodities: engineering products, textiles and clothing, production machinery, motor vehicles, transport equipment, chemicals; foodstuffs, beverages, and tobacco; minerals, nonferrous metals )country comparison to the world (CIA rank, may be based on non-current data): $496.3 billion 6 (2017 est. 0.9214 [see also: Stock of domestic credit country ranks ] (2017 est.) (31 December 2017 est.) At this point, we expect the outbreak to depress Italian economic growth by a few tenths in 2020; All in all, we think that the economy will be broadly stagnant in 2020 and slightly contract in 2021; 2019 ended on a very weak note. 0.903 investment in fixed capital: 17.5% (2015 est.) )country comparison to the world (CIA rank, may be based on non-current data): As the Italian Statistical Institute (ISTAT) showed, 34% of Italian production has been negatively affected. 6 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): Stock of narrow money: [see also: Current account balance country ranks ] (2016 est.) Reserves of foreign exchange and gold: Commercial bank prime lending rate: Imports - commodities: engineering products, chemicals, transport equipment, energy products, minerals and nonferrous metals, textiles and clothing; food, beverages, tobacco [see also: Labor force - by occupation - industry country ranks ] Debt - external: )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est.) 0.25% $496.3 billion (2017 est.) (31 December 2015 est. With two of the most productive regions in the country under lockdown in a move to contain the spread of the virus, Italy's economic engine is paralyzed. )country comparison to the world (CIA rank, may be based on non-current data): 0.885 While Italy … Taxes and other revenues: 46.6% (of GDP) Imports - partners: Germany 16.3%, France 8.8%, China 7.1%, Netherlands 5.6%, Spain 5.3%, Belgium 4.5% $587.3 billion $2.444 trillion (31 December 2013) 16 -0.1% Household income or consumption by percentage share: (2017 est.) Inflation rate (consumer prices): (2015 est. (2016 est. 0.7634 0.885 $615.5 billion (31 December 2015 est. The Italian economy contracted substantially in the final quarter of last year (-0.3% q-o-q), see figure 1. )country comparison to the world (CIA rank, may be based on non-current data): 0.885 Fiscal year: calendar year (2012 est.) (2016 est.) $389.8 billion $130.6 billion )country comparison to the world (CIA rank, may be based on non-current data): 9 In 2007 Italy maintained a civilian air fleet of about 389,000 units and a merchant fleet of 581 ships. $480.5 billion $37,600 68 Italy is the largest hub for luxury goods in Europe and the third luxury hub globally. 0.7634 Stock of direct foreign investment - at home: (2016 est. (31 December 2017 est.) (2016 est. [see also: Central bank discount rate country ranks ] in World Cargo News, 17 December 2019. 132% of GDP b) The CIA sometimes assigns counterintuitive ranks. [see also: Exports country ranks ] [119][120] Due to its reliance on imports, Italians pay approximately 45% more than the EU average for electricity. [see also: Taxes and other revenues country ranks ] 15 $1.347 trillion Budget: Budget surplus (+) or deficit (-): -2.3% (of GDP) (2017) lowest 10%: 2.3% $1.347 trillion (31 December 2012 est. Annual growth rates have often been below the EU average with Italy being hit particularly hard by the late-2000s recession. 0.25% (2017 est.) Debt - external: 9 )country comparison to the world (CIA rank, may be based on non-current data): [see also: Public debt country ranks ] Debt - external: [see also: Stock of direct foreign investment - at home country ranks ] $47.64 billion imports of goods and services: -28.3% $432.9 billion Livestock includes 6 million head of cattle, 8.6 million head of swine, 6.8 million head of sheep, and 0.9 million head of goats. )country comparison to the world (CIA rank, may be based on non-current data): $671.8 billion The country lacked large coal and iron deposits[42] and the population was largely illiterate. 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): Exports: The unemployment rate in February 2016 remained at 11.7%, which has been the same for almost a year, but even having a job does not guarantee freedom from poverty. $587.3 billion However, Spain unlike its EU peers offered sunny news. (31 December 2017 est.) 9 [see also: GDP - per capita country ranks ] $47.64 billion $130.6 billion Italy is the worst hit in Europe, with more than 31,000 cases. $47.64 billion )country comparison to the world (CIA rank, may be based on non-current data): 1.3% [see also: GDP - composition, by sector of origin - industry country ranks ] (31 December 2017 est.) (2016 est.) agriculture: 3.9% 17 16 Central bank discount rate: (31 December 2015 est. (31 December 2016 est. )country comparison to the world (CIA rank, may be based on non-current data): [see also: Commercial bank prime lending rate country ranks ] (31 December 2016 est.) (31 December 2012) Istituto per la Ricostruzione Industriale, European Union response to the COVID-19 pandemic, "World Economic Outlook Database, April 2019", "World Economic Outlook Database, October 2020", "Poverta': Istat, in 2014 assoluta per 1,47 mln famiglie – Economia", "People at risk of poverty or social exclusion", "Gini coefficient of equivalised disposable income – EU-SILC survey", "Unemployment by sex and age – monthly average", "Euromoney Institutional Investor Company", "Euro area and EU27 government deficit both at 0.6% of GDP", "Development aid rises again in 2016 but flows to poorest countries dip", "Moody's confirms stable outlook on Italy's "Baa2" sovereign rating", "Fitch Affirms Italy at 'BBB+'; Outlook Stable", "Scope revises the Outlook on Italy's BBB+ long-term ratings to Negative", "Report for Selected Countries and Subjects", "The Economist Intelligence Unit's quality-of-life index", "Italia terza al mondo per riserve d'oro, per ogni cittadino dote di 1.650 euro", "The world's biggest luxury markets in 2015", Italy remains the third market for luxury goods, "GDP per capita growth (annual %) | Data", "In Italia 3,7 milioni di lavoratori in nero", "Il Sud d'Italia e i settori che evadono di più", "Through the Magnifying Glass: Provincial Aspects of Industrial Growth in Post-Unification Italy", "Italian Pride Is Revived in a Tiny Fiat", "Italy since 1945: Demographic and social change", "Italy since 1945: The economy in the 1980s", "L'Italia in 150 anni. )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) (2017 est. 171 The inability of the Italian economy to grow at decent rates is not novel. Imports: (2017 est.) [see also: Central bank discount rate country ranks ] $3.024 trillion At this point, we expect the outbreak to depress Italian economic growth by a few tenths in 2020; All in all, we think that the economy will be broadly stagnant in 2020 and slightly contract in 2021; 2019 ended on a very weak note. (31 March 2016 est.) government consumption: 18.6% GDP - real growth rate: Debt - external: 111 Italy’s economic freedom score is 63.8, making its economy the 74th freest in the 2020 Index. 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): )country comparison to the world (CIA rank, may be based on non-current data): (March 2020) A graph showing Italy's GDP growth from 2000 to 2012 (including predictions of 2013) compared with EU's growth. 139 [see also: GDP - composition, by sector of origin - services country ranks ], Agriculture - products: fruits, vegetables, grapes, potatoes, sugar beets, soybeans, grain, olives; beef, dairy products; fish, Industries: tourism, machinery, iron and steel, chemicals, food processing, textiles, motor vehicles, clothing, footwear, ceramics, Industrial production growth rate: 2.1% $480.5 billion 6 Budget: 0.903 )country comparison to the world (CIA rank, may be based on non-current data): 0.885 (31 December 2017 est.) 2) The rank that you see is the CIA reported rank, which may have the following issues: )country comparison to the world (CIA rank, may be based on non-current data): (2016 est.) 9 Stock of broad money: government consumption: 18.6% [see also: Stock of direct foreign investment - at home country ranks ] $615.5 billion Stock of narrow money: (2016 est. 5 )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) [see also: Reserves of foreign exchange and gold country ranks ] [see also: GDP - composition, by sector of origin - services country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) revenues: 903.3 billion (31 December 2016 est. Unemployment rate: $587.3 billion 9 $671.8 billion (2017 est.) $47.64 billion Stock of direct foreign investment - abroad: (2016 est. (2012 est.) ), Market value of publicly traded shares: )country comparison to the world (CIA rank, may be based on non-current data): (2016 est. Feb 28, 2020 Paola Subacchi. 6 [see also: Imports country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): 9 [see also: Exports country ranks ] $1.101 trillion Budget surplus (+) or deficit (-): -2.3% (of GDP) [see also: Stock of direct foreign investment - at home country ranks ] 3.5% 3% [see also: Distribution of family income - Gini index country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): (2016 est.) household consumption: 61% [see also: Market value of publicly traded shares country ranks ] (2017 est.) (2016 est. [see also: Budget - revenues country ranks ] [see also: Stock of narrow money country ranks ] 0.7634 Different estimations on Italy's GDP growth have been published since the outbreak of the coronavirus pandemic. (31 December 2016 est.) (31 December 2017 est.) $130.6 billion 20 Reserves of foreign exchange and gold: (31 December 2014 est.) Debt - external: $151.2 billion [see also: Reserves of foreign exchange and gold country ranks ] (31 December 2017 est.) $3.024 trillion 0.9214 The poverty line per capita changed by region from €552.39/month to €819.13/month.The numbers of those in absolute poverty rose nearly an entire percent in 2015, from 6.8% in 2014, to 7.6% in 2015. Imports - commodities: engineering products, chemicals, transport equipment, energy products, minerals and nonferrous metals, textiles and clothing; food, beverages, tobacco (2017) [see also: Exports country ranks ] 9 $2.444 trillion Stock of domestic credit: (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): (2000) [see also: Central bank discount rate country ranks ] Stock of direct foreign investment - at home: Stock of domestic credit: Imports: $496.3 billion (2015 est.) ), Imports - commodities: engineering products, chemicals, transport equipment, energy products, minerals and nonferrous metals, textiles and clothing; food, beverages, tobacco, Imports - partners: Germany 16.3%, France 8.8%, China 7.1%, Netherlands 5.6%, Spain 5.3%, Belgium 4.5% Labor force - by occupation: Stock of domestic credit: (2014 est.) (2017 est.) [see also: Stock of direct foreign investment - abroad country ranks ] 3% (2017) (31 December 2016 est. (31 December 2014 est.) GDP - per capita: [see also: Population below poverty line country ranks ] (31 March 2015 est. $615.5 billion 15 Stock of direct foreign investment - at home: 0.7634 (31 December 2017 est.) (31 March 2016 est.) By the end of the 1930s, over 400 kilometers of multi- and dual-single-lane motorways were constructed throughout Italy, linking cities and rural towns. Italy is a founding member of the European Union, the Eurozone, the OECD, the G7 and the G20;[22] it is the tenth-largest exporter in the world, with $632 billion exported in 2019. (31 December 2016 est. The Milano-Laghi motorway, connecting Milan to Varese and now parts of the A8 and A9 motorways, was devised by Piero Puricelli, a civil engineer and entrepreneur. Imports - commodities: engineering products, chemicals, transport equipment, energy products, minerals and nonferrous metals, textiles and clothing; food, beverages, tobacco 6 [see also: Population below poverty line country ranks ] (31 December 2014 est.) (2014 est.) (31 December 2016 est. (2017 est.) Stock of narrow money: $671.8 billion revenues: 903.3 billion (2017 est.) [see also: GDP - composition, by end use - household consumption country ranks ] (31 December 2014 est.) (31 December 2017 est.) Stock of direct foreign investment - at home: $671.8 billion In addition, Italian living standards have a considerable North–South divide: the average GDP per capita in Northern italy significantly exceeds the EU average, while some regions and provinces in Southern Italy are significantly below. (2017) industry: 28.3% expenditures: 948.1 billion )country comparison to the world (CIA rank, may be based on non-current data): More. (2017), Exports - commodities: engineering products, textiles and clothing, production machinery, motor vehicles, transport equipment, chemicals; foodstuffs, beverages, and tobacco; minerals, nonferrous metals, Imports: $3.024 trillion $615.5 billion 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): $615.5 billion Commercial bank prime lending rate: Debt - external: 0.885 (2016 est. 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): Imports: [see also: Budget - expenditures country ranks ] Finance Roberto Gualtieri said Confindustria 's report is very close to estimates by the Great.. 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