Italy in the World Economy

Agenda Economy of Italy Infrastructure of Italy Foreign relations in Italy

Economy of Italy Republic - 2 June 1946 Republic Total area - 301,338 km 2 (72nd)72nd Population - 59,685,227 (23rd)23rd Density /km 2 (63rd)63rd GDP (nominal) - $2.014 trillion (9th)9th GDP (PPP) - $1.833 trillion (10th)10th Per capita (nominal) - $33,115(25th)25th

Italy has a market economy characterized by high per capita GDP and low unemployment rates.market economy In 2012, it was the ninth-largest economy in the world and the fifth-largest in Europe in terms of nominal GDP, and the tenth-largest economy in the world and fourth-largest in Europe in terms of PPPninth-largesttenth-largestPPP

After World War II, Italy was rapidly transformed from an agriculture based economy into one of the world's most industrialized nations and a leading country in world trade and exports.rapidly transformed world trade and exports

It is a developed country, with the world's 8th highest quality of life in 2005 and the 25 th Human Development Index.developed countryquality of life Human Development Index

The country is well known for its influential and innovative business economic sector, an industrious and competitive agricultural sector(Italy is the world's largest wine producer), and for its creative and high-quality automobile, industrial, appliance and fashion design.

Italy has a smaller number of global multinational corporations than other economies of comparable size, but there is a large number of small and medium-sized enterprises.small and medium-sized enterprises

The country was the world's 7th largest exporter in Italy's closest trade ties are with the other countries of the European Union, with whom it conducts about 59% of its total trade. Its largest EU trade partners, in order of market share, are Germany (12.9%), France (11.4%), and Spain (7.4%).

Tourism is one of the fastest growing and profitable sectors of the national economy: with 43.6 million international tourist arrivals and total receipts estimated at $38.8 billion in 2010, Italy is both the fifth most visited country and highest tourism earner in the world.

Italian living standards have a considerable north-south divide.north-south divide The average GDP per capita in the north exceeds by far the EU average, while many regions of Southern Italy are dramatically below.Southern Italy

Weaknesses of Italy More specifically, Italy suffers from structural weaknesses because of its geographical conformation and the lack of raw materials and energy resources: in 2006 the country imported more than 86% of its total energy consumption (99.7% of the solid fuels, 92.5% of oil, 91.2% of natural gas and 15% of electricity).

Weaknesses of Italy The Italian economy is weakened by the lack of infrastructure development, market reforms and research investment, and also high public deficit.

Weaknesses of Italy The country has an inefficient state bureaucracy, low property rights protection and high levels of corruption, heavy taxation and public spending that accounts for about half of the national GDP

Infrastructure of Italy In 2004 the transport sector in Italy generated a turnover of about billion euros, employing 935,700 persons in 153,700 enterprises. Regarding the national road network, in 2002 there were 668,721 km (415,524 mi) of serviceable roads in Italy, including 6,487 km (4,031 mi) of motorways, state-owned but privately operated by Atlantia.Atlantia

The national railway network, state-owned and operated by FerroviedelloStato, in 2003 totalled 16,287 km (10,120 mi) of which 69% is electrified, and on which 4,937 locomotives and railcars circulated.FerroviedelloStato

In 2004 there were approximately 30 main airports (including the two hubs of Malpensa International in Milan and Leonardo da Vinci International in Rome) and 43 major seaports (including the seaport of Genoa, the country's largest and second largest in the Mediterranean Sea).hubsMalpensa InternationalLeonardo da Vinci InternationalGenoaMediterranean Sea