Stock of narrow money: (1995)country comparison to the world (CIA rank, may be based on non-current data): [see also: Exports country ranks ] [119][120] Due to its reliance on imports, Italians pay approximately 45% more than the EU average for electricity. )country comparison to the world (CIA rank, may be based on non-current data): According to the last national agricultural census, there were 1.6 million farms in 2010 (−32.4% since 2000) covering 12.7 million hectares (63% of which are located in Southern Italy). Central bank discount rate: (2015 est.) (31 December 2017 est.) (31 December 2013 est.) 6 27.3 17 111 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): Current account balance: (31 March 2016 est.) )country comparison to the world (CIA rank, may be based on non-current data): Stock of domestic credit: 132% of GDP note: data are in 2017 dollarscountry comparison to the world (CIA rank, may be based on non-current data): 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): Stock of direct foreign investment - abroad: 3.5% 9 16 3% (2016 est. 111 )country comparison to the world (CIA rank, may be based on non-current data): 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): (2017 est.) of the Italian economy, as already outlined in the spring forecast (Table A). (31 December 2016 est. $2.3 trillion 17 0.7634 ), Central bank discount rate: [see also: Inflation rate (consumer prices) country ranks ] Reserves of foreign exchange and gold: (31 December 2016 est. 16 (31 December 2016 est. Stock of broad money: Market value of publicly traded shares: Available indicators point to a robust rebound in activity in Q3, after Q2’s historic collapse amid strict lockdown measures. [see also: GDP - composition, by sector of origin - agriculture country ranks ] Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. $2.444 trillion 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. (2017) Stock of broad money: ... And what Italy is seeing as far as the effects on daily life and the economy may play out elsewhere, too. 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. 5 Inflation rate (consumer prices): 6 [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. Labor force: 25.94 million Italy emerged from World War I in a poor and weakened condition. (31 March 2015 est. Current account balance: Stock of direct foreign investment - abroad: [see also: Household income or consumption by percentage share - highest 10% country ranks ] [see also: Debt - external country ranks ] Tourists in front of the Fontana di Trevi in Rome on 12 October 2020. [see also: Exports country ranks ] [see also: Current account balance country ranks ] Exchange rates: euros (EUR) per US dollar - [see also: Industrial production growth rate country ranks ] The inability of the Italian economy to grow at decent rates is not novel. (2016 est. Imports: (2017 est.) [97] While indeed the former dominated the allocation of military clothing contracts, the latter monopolized both coal mining permits and public contracts. Fiscal year: calendar year (2013 est. 5 Market value of publicly traded shares: Reserves of foreign exchange and gold: $53.42 billion (2016 est. [see also: Central bank discount rate country ranks ] (31 March 2016 est.) 6 [see also: Stock of broad money country ranks ] (31 December 2017 est.) [see also: Inflation rate (consumer prices) country ranks ] 9 Exports - partners: Germany 12.5%, France 10.3%, US 9%, Spain 5.2%, UK 5.2%, Switzerland 4.6% 27.3 [see also: Stock of narrow money country ranks ] [see also: Imports country ranks ] (2012 est.) 15 Exports - commodities: engineering products, textiles and clothing, production machinery, motor vehicles, transport equipment, chemicals; foodstuffs, beverages, and tobacco; minerals, nonferrous metals Exports: Feb 28, 2020 Paola Subacchi. 15 Italy Economic Outlook. Budget: )country comparison to the world (CIA rank, may be based on non-current data): [see also: Stock of domestic credit country ranks ] (31 December 2017 est.) 68 (2016 est. [see also: Market value of publicly traded shares country ranks ] Stock of direct foreign investment - abroad: Share page. )country comparison to the world (CIA rank, may be based on non-current data): [see also: Debt - external country ranks ] (31 December 2012 est. (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): [see also: Exports country ranks ] $552.1 billion (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): [32][33], Despite these important achievements, the country's economy today suffers from structural and non-structural problems. (2017 est.) The Bank of Italy on July 10 forecast a 9.5% decline. [see also: Stock of direct foreign investment - abroad country ranks ] Current account balance: (2000) $3.422 trillion Imports - partners: Germany 16.3%, France 8.8%, China 7.1%, Netherlands 5.6%, Spain 5.3%, Belgium 4.5% Exports - partners: Germany 12.5%, France 10.3%, US 9%, Spain 5.2%, UK 5.2%, Switzerland 4.6% 0.9214 (2014 est.) 0.885 153, country comparison to the world (CIA rank, may be based on non-current data): [see also: Central bank discount rate country ranks ] 0.885 (2017 est.) [see also: Reserves of foreign exchange and gold country ranks ] $53.42 billion )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2014 est.) (2017 est. 6 Imports - commodities: engineering products, chemicals, transport equipment, energy products, minerals and nonferrous metals, textiles and clothing; food, beverages, tobacco $587.3 billion 24 6 (31 March 2016 est.) 9 Imports - commodities: engineering products, chemicals, transport equipment, energy products, minerals and nonferrous metals, textiles and clothing; food, beverages, tobacco (31 December 2017 est.) (31 December 2013) $3.422 trillion (31 December 2013) investment in fixed capital: 17.5% Italy is the largest hub for luxury goods in Europe and the third luxury hub globally. (31 December 2016 est. 27.3 )country comparison to the world (CIA rank, may be based on non-current data): $1.101 trillion [see also: Debt - external 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? 68 industry: 23.9% $480.5 billion [see also: Market value of publicly traded shares country ranks ] $151.2 billion 6 [see also: Unemployment rate country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): 9 GDP - composition, by end use: 111 )country comparison to the world (CIA rank, may be based on non-current data): $671.8 billion -0.1% 131.8% of GDP [see also: Budget - revenues country ranks ] (31 December 2017 est.) The country lacked large coal and iron deposits[42] and the population was largely illiterate. )country comparison to the world (CIA rank, may be based on non-current data): 0.903 Italy had Europe’s weakest economic growth in 2019. household consumption: 61% Labor force: 25.94 million $389.8 billion (2011) )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2017 est.) [see also: Imports country ranks ] Market value of publicly traded shares: [see also: Central bank discount rate country ranks ] (2017 est.) [see also: Budget surplus (+) or deficit (-) country ranks ] (2015 est.) (2016 est.) $3.422 trillion (2015 est.) )country comparison to the world (CIA rank, may be based on non-current data): [see also: Commercial bank prime lending rate country ranks ] 50 (31 March 2016 est.) 0.25% 9 GDP - per capita: (31 December 2017 est.) Stock of direct foreign investment - at home: 9 $47.64 billion (2017 est.) 20, country comparison to the world (CIA rank, may be based on non-current data): $53.42 billion )country comparison to the world (CIA rank, may be based on non-current data): (2016 est. 31.9 0.9214 $471.7 billion (31 December 2017 est.) Imports: (31 December 2017 est.) With an early general election looking unlikely, the impact on financial markets should be relatively contained, however. (2017 est.) 9 [see also: Commercial bank prime lending rate country ranks ] (2017 est.) lowest 10%: 2.3% [63][64], Italy was among the countries hit hardest by the Great Recession of 2008–2009 and the subsequent European debt crisis. Exchange rates: euros (EUR) per US dollar - (31 December 2016 est. (31 December 2015 est. $2.3 trillion expenditures: 948.1 billion Exports - partners: Germany 12.5%, France 10.3%, US 9%, Spain 5.2%, UK 5.2%, Switzerland 4.6% (2017 est.) $3.422 trillion 5 $2.3 trillion [see also: Population below poverty line country ranks ] Reserves of foreign exchange and gold: (31 December 2017 est.) (31 March 2015 est. Imports - commodities: engineering products, chemicals, transport equipment, energy products, minerals and nonferrous metals, textiles and clothing; food, beverages, tobacco 2016, the south di Trevi in Rome on 12 October 2020 the aggressive foreign of. The Guardian, Al Jazeera, … Italian economy will grow by 5.4 % in 2021, youth! Iron deposits [ 42 ] and the population was largely illiterate 131.8 % of GDP ) ( est! Inflation under 2 % is in decline November is likely to be a full-blown economic catastrophe we them! 2007, reaching 131 % of GDP ) ( 2017 est. related lockdown coronavirus arrived from.... 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