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In t r o d u ct io n :: ITA LY Ge o g r ap h y :: ITA LY Pe o p le :: ITA LY Go ve r n m e n t :: ITA LY Eco n o m y :: ITA LY Eco n o m y - o ve r vie w : Italy has a div er s if ied indus tr ial ec onomy , w hic h is div ided into a dev eloped indus tr ial nor th, dominated by pr iv ate c ompanies , and a les s - dev eloped, w elf ar e- dependent, agr ic ultur al s outh, w ith high unemploy ment. The Italian ec onomy is dr iv en in lar ge par t by the manuf ac tur e of highquality c ons umer goods pr oduc ed by s mall and medium- s iz ed enter pr is es , many of them f amily ow ned. Italy als o has a s iz able under gr ound ec onomy , w hic h by s ome es timates ac c ounts f or as muc h as 17% of GDP. Thes e ac tiv ities ar e mos t c ommon w ithin the agr ic ultur e, c ons tr uc tion, and s er v ic e s ec tor s . Italy is the thir d- lar ges t ec onomy in the eur o- z one, but ex c eptionally high public debt bur dens and s tr uc tur al impediments to gr ow th hav e r ender ed it v ulner able to s c r utiny by f inanc ial mar kets . Public debt has inc r eas ed s teadily s inc e 2007, r eac hing 120% of GDP in 2011, and bor r ow ing c os ts on s ov er eign gov er nment debt hav e r is en to r ec or d lev els . Dur ing the s ec ond half of 2011 the gov er nment pas s ed a s er ies of thr ee aus ter ity pac kages to balanc e its budget by 2013 and dec r eas e its public debt bur den. Thes e meas ur es inc luded a hike in the v alue- added tax , pens ion r ef or ms , and c uts to public adminis tr ation. The gov er nment als o f ac es pr es s ur e f r om inv es tor s and Eur opean par tner s to addr es s Italy 's long- s tanding s tr uc tur al impediments to gr ow th, s uc h as an inf lex ible labor mar ket and w ides pr ead tax ev as ion. The inter national f inanc ial c r is is w or s ened c onditions in Italy ''s labor mar ket, w ith unemploy ment r is ing f r om 6.2% in 2007 to 8.4% in 2011, but in the longer - ter m Italy ''s low f er tility r ate and quota- dr iv en immigr ation polic ies w ill inc r eas ingly s tr ain its ec onomy . The eur o- z one c r is is along w ith Italian aus ter ity meas ur es hav e r educ ed ex por ts and domes tic demand, s low ing Italy ''s r ec ov er y . Italy ''s GDP is s till 5% below its 2007 pr e- c r is is lev el. GDP ( p u r ch as in g p o w e r p ar it y) : $1.871 tr illion ( 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 11 $1.863 tr illion ( 2010 es t.) $1.83 tr illion ( 2009 es t.) n o t e: data ar e in 2011 US dollar s GDP ( o f f icial e xch an g e r at e ) : $2.199 tr illion ( 2011 es t.) GDP - r e al g r o w t h r at e : 0.4% ( 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 189 1.8% ( 2010 es t.) - 5.5% ( 2009 es t.) GDP - p e r cap it a ( PPP) : $30,900 ( 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 44 $30,900 ( 2010 es t.) $30,500 ( 2009 es t.) n o t e: data ar e in 2011 US dollar s GDP - co m p o s it io n b y s e ct o r :

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ag r icu lt u r e : 2% in d u s t r y: 24.7% s e r vice s : 73.4% ( 2011 es t.) L ab o r f o r ce : 25.08 million ( 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 26 L ab o r f o r ce - b y o ccu p at io n : ag r icu lt u r e : 3.9% in d u s t r y: 28.3% s e r vice s : 67.8% ( 2011) Un e m p lo ym e n t r at e : 8.4% ( 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 99 8.4% ( 2010 es t.) Po p u lat io n b e lo w p o ve r t y lin e : NA %

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Ho u s e h o ld in co m e o r co n s u m p t io n b y p e r ce n t ag e s h ar e : lo w e s t 10%: 2.3% h ig h e s t 10%: 26.8% ( 2000) Dis t r ib u t io n o f f am ily in co m e - Gin i in d e x: 32 ( 2006) co u n t r y co m p ar is o n t o t h e w o r ld : 105 27.3 ( 1995) In ve s t m e n t ( g r o s s f ixe d ) : 20.5% of GDP ( 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 91 Bu d g e t : r e ve n u e s : $1.025 tr illion e xp e n d it u r e s : $1.112 tr illion ( 2011 es t.) T axe s an d o t h e r r e ve n u e s : 46.6% of GDP ( 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 28 Bu d g e t s u r p lu s ( +) o r d e f icit ( - ) : - 3.9% of GDP ( 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 124 Pu b lic d e b t : 120.1% of GDP ( 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 8 118.7% of GDP ( 2010 es t.) n o t e: Italy r epor ts its data on public debt ac c or ding to guidelines s et out in the Maas tr ic ht Tr eaty ; gener al gov er nment gr os s debt is def ined in the Maas tr ic ht Tr eaty as c ons olidated gener al gov er nment gr os s debt at nominal v alue, outs tanding at the end of the y ear , in the f ollow ing c ategor ies of gov er nment liabilities ( as def ined in ESA 95) : c ur r enc y and depos its ( A F.2) , s ec ur ities other than s har es ex c luding f inanc ial der iv ativ es ( A F.3, ex c luding A F.34) , and loans ( A F.4) ; the gener al gov er nment s ec tor c ompr is es the c entr al gov er nment, s tate gov er nment, loc al gov er nment and s oc ial s ec ur ity f unds In f lat io n r at e ( co n s u m e r p r ice s ) : 2.9% ( 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 53 1.6% ( 2010 es t.) Ce n t r al b an k d is co u n t r at e : 1.75% ( 31 Dec ember 2011) co u n t r y co m p ar is o n t o t h e w o r ld : 123 1.75% ( 31 Dec ember 2010) n o t e: this is the Eur opean Centr al Bank's r ate on the mar ginal lending f ac ility , w hic h of f er s ov er night c r edit to banks in the eur o ar ea Co m m e r cial b an k p r im e le n d in g r at e : 4.55% ( 31 Dec ember 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 167 4.032% ( 31 Dec ember 2010 es t.) St o ck o f n ar r o w m o n e y: $1.147 tr illion ( 31 Dec ember 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 6 $1.205 tr illion ( 31 Dec ember 2010 es t.) n o t e: s ee entr y f or the Eur opean Union f or money s upply in the eur o ar ea; the Eur opean Centr al Bank ( ECB) c ontr ols monetar y polic y f or the 17 member s of the Ec onomic and Monetar y Union ( EMU) ; indiv idual member s of the EMU do not c ontr ol the quantity of money c ir c ulating w ithin their ow n bor der s St o ck o f b r o ad m o n e y:

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St o ck o f b r o ad m o n e y: $2.269 tr illion ( 31 Dec ember 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 9 $2.065 tr illion ( 31 Dec ember 2010 es t.) St o ck o f d o m e s t ic cr e d it : $3.469 tr illion ( 31 Dec ember 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 9 $3.221 tr illion ( 31 Dec ember 2010 es t.) M ar k e t valu e o f p u b licly t r ad e d s h ar e s : $431.5 billion ( 31 Dec ember 2011) co u n t r y co m p ar is o n t o t h e w o r ld : 27 $318.1 billion ( 31 Dec ember 2010) $317.3 billion ( 31 Dec ember 2009) Ag r icu lt u r e - p r o d u ct s :

CIA - The World Factbook

f r uits , v egetables , gr apes , potatoes , s ugar beets , s oy beans , gr ain, oliv es ; beef , dair y pr oduc ts ; f is h In d u s t r ie s : tour is m, mac hiner y , ir on and s teel, c hemic als , f ood pr oc es s ing, tex tiles , motor v ehic les , c lothing, f ootw ear , c er amic s In d u s t r ial p r o d u ct io n g r o w t h r at e : 0.2% ( 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 147 Cu r r e n t acco u n t b alan ce : - $70.1 billion ( 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 190 - $72.02 billion ( 2010 es t.) Exp o r t s : $523.9 billion ( 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 9 $448.4 billion ( 2010 es t.) Exp o r t s - co m m o d it ie s : engineer ing pr oduc ts , tex tiles and c lothing, pr oduc tion mac hiner y , motor v ehic les , tr ans por t equipment, c hemic als ; f ood, bev er ages and tobac c o; miner als , and nonf er r ous metals

Exp o r t s - p ar t n e r s : Ger many 13.3% , Fr anc e 11.8% , US 5.9% , Spain 5.4% , Sw itz er land 5.4% , UK 4.7% ( 2011) Im p o r t s : $556.4 billion ( 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 8 $475.7 billion ( 2010 es t.) Im p o r t s - co m m o d it ie s : engineer ing pr oduc ts , c hemic als , tr ans por t equipment, ener gy pr oduc ts , miner als and nonf er r ous metals , tex tiles and c lothing; f ood, bev er ages , and tobac c o Im p o r t s - p ar t n e r s : Ger many 16.5% , Fr anc e 8.9% , China 7.7% , Nether lands 5.5% , Spain 4.7% ( 2011) Re s e r ve s o f f o r e ig n e xch an g e an d g o ld : $173.3 billion ( 31 Dec ember 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 16 $158.9 billion ( 31 Dec ember 2010 es t.) De b t - e xt e r n al: $2.684 tr illion ( 30 June 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 7 $2.223 tr illion ( 30 June 2010 es t.) St o ck o f d ir e ct f o r e ig n in ve s t m e n t - at h o m e : $365.5 billion ( 31 Dec ember 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 16 $332 billion ( 31 Dec ember 2010 es t.) St o ck o f d ir e ct f o r e ig n in ve s t m e n t - ab r o ad : $552.8 billion ( 31 Dec ember 2011 es t.) co u n t r y co m p ar is o n t o t h e w o r ld : 12 $487.6 billion ( 31 Dec ember 2010 es t.) Exch an g e r at e s : eur os ( EUR) per US dollar 0.7194 ( 2011 es t.) 0.755 ( 2010 es t.) 0.7198 ( 2009 es t.) 0.6827 ( 2008 es t.) 0.7345 ( 2007 es t.)

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0.7345 ( 2007 es t.) Fis cal ye ar : c alendar y ear En e r g y :: ITA LY Co m m u n icat io n s :: ITA LY T r an s p o r t at io n :: ITA LY M ilit ar y :: ITA LY

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T r an s n at io n al Is s u e s :: ITA LY
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