italy economy 2020

$671.8 billion Stock of direct foreign investment - abroad: (2016 est.) The country is also well known for its influential and innovative business economic sector, an industrious and competitive agricultural sector (Italy is the world's largest wine producer),[31] and manufacturers of creatively designed, high-quality products including automobiles, ships, home appliances, and designer clothing. Inflation rate (consumer prices): Industries: tourism, machinery, iron and steel, chemicals, food processing, textiles, motor vehicles, clothing, footwear, ceramics [see also: Stock of direct foreign investment - abroad country ranks ] 11.7% 139 )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2012) In 2017, overall unemployment was 11.4%, but youth unemployment remained high at 37.1%. (31 December 2016 est. The country lacked large coal and iron deposits[42] and the population was largely illiterate. (31 March 2015 est. (2016 est.) Central bank discount rate: [see also: Budget - revenues country ranks ] Italy was the first country in the world to build motorways, the so-called "autostrade", reserved for motor vehicles. (2016 est. (2015 est.) [see also: Population below poverty line country ranks ] (2013 est. (31 December 2016 est. (2017 est. (2017 est.) 15 [see also: Debt - external country ranks ] (2015 est.) (2016 est.) )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) (2015 est.) [see also: Stock of domestic credit country ranks ] The economic history of Italy can be divided in three main phases:[39] an initial period of struggle after the unification of the country, characterised by high emigration and stagnant growth; a central period of robust catch-up from the 1890s to the 1980s, interrupted by the Great Depression of the 1930s and the two world wars; and a final period of sluggish growth that has been exacerbated by a double-dip recession following the 2008 global financial crush, and from which the country is slowly reemerging only in recent years. Taxes and other revenues: 46.6% (of GDP) Exchange rates: euros (EUR) per US dollar - (31 December 2015 est. )country comparison to the world (CIA rank, may be based on non-current data): Stock of domestic credit: $130.6 billion Commercial bank prime lending rate: $1.347 trillion 19.7% of GDP (2017 est.) Italy’s Economy Suffering Record Blow Amid Mass Shutdown By . GDP Growth Rate in Italy averaged 0.57 percent from 1960 until 2020, reaching an all time high of 15.90 percent in the third quarter of 2020 and a record low of -13 percent in the second quarter of 2020. (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): 174 (31 December 2012 est. Labor force - by occupation: )country comparison to the world (CIA rank, may be based on non-current data): [see also: Budget - revenues country ranks ] (2016 est. )country comparison to the world (CIA rank, may be based on non-current data): Debt - external: (2017 est.) [see also: Stock of broad money country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): Exports: $480.5 billion [121], In the last decade, Italy has become one of the world's largest producers of renewable energy, ranking as the second largest producer in the European Union after Germany and the ninth in the world. investment in inventories: -0.2% $2.444 trillion )country comparison to the world (CIA rank, may be based on non-current data): $454.1 billion $496.3 billion 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): [see also: Current account balance country ranks ] Italy is one of the world's leading producers of pumice, pozzolana, and feldspar. [see also: Stock of domestic credit country ranks ] [see also: Debt - external country ranks ] Stock of domestic credit: 132% of GDP Imports - partners: Germany 16.3%, France 8.8%, China 7.1%, Netherlands 5.6%, Spain 5.3%, Belgium 4.5% agriculture: 2.1% Imports - commodities: engineering products, chemicals, transport equipment, energy products, minerals and nonferrous metals, textiles and clothing; food, beverages, tobacco 15 Stock of direct foreign investment - abroad: $587.3 billion [see also: Stock of direct foreign investment - abroad country ranks ] [see also: GDP - composition, by sector of origin - industry country ranks ] (31 December 2016 est. revenues: 903.3 billion (31 December 2016 est.) 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. $53.42 billion ), Budget surplus (+) or deficit (-): -2.3% (of GDP) $584.1 billion (2017 est.) (31 December 2014 est.) 17 (31 March 2016 est.) [see also: Stock of domestic credit country ranks ] October 27, 2020. (2017) (2017) [111] The vast majority (99%) are family-operated and small, averaging only 8 hectares in size. (2017) 6 (2016 est. 6 (31 December 2017 est.) (2017 est.) Imports - partners: Germany 16.3%, France 8.8%, China 7.1%, Netherlands 5.6%, Spain 5.3%, Belgium 4.5% )country comparison to the world (CIA rank, may be based on non-current data): 5 [see also: Central bank discount rate country ranks ] 15 (2017) 13 [see also: Labor force - by occupation - services country ranks ] (31 December 2012 est. $47.64 billion Debt - external: Stock of direct foreign investment - abroad: 0.9214 Debt - external: Industries: tourism, machinery, iron and steel, chemicals, food processing, textiles, motor vehicles, clothing, footwear, ceramics (2015 est.) $671.8 billion This geographical indication certificate, which is attributed by the European Union, is considered important to avoid confusion with low-quality mass-produced ersatz products. (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): Reserves of foreign exchange and gold: Economic forecast for Italy The Commission publishes a full set of macroeconomic forecasts for the EU and its Member States in spring (May) and autumn (November) and publishes interim forecasts updating GDP and inflation figures in winter (February) and summer (July). )country comparison to the world (CIA rank, may be based on non-current data): $471.7 billion -0.1% 139, country comparison to the world (CIA rank, may be based on non-current data): The day of reckoning has now come for the Italian economic crisis, worsened by the Covid-19 pandemic and the related lockdown. [see also: Population below poverty line country ranks ] Public debt: 0.75% (31 December 2016 est. (2017 est.) (2016 est. $1.347 trillion 132% of GDP Italy on Saturday reported an additional 5,724 confirmed cases of Covid-19 over the previous 24 hours, its biggest one-day jump in confirmed Covid-19 cases since March. (31 December 2013) )country 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): 13 $37,600 Exports: $615.5 billion (2017 est.) (2017 est. (31 December 2013 est.) Exports: (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): Imports: 174 9 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): At the same time, the aggressive foreign policy of Mussolini led to an increasing military expenditure. 0.903 [54] Italian rates of growth were second only, but very close, to the German rates, in Europe, and among the OEEC countries only Japan had been doing better. Population below poverty line: 29.9% $389.8 billion 12, country comparison to the world (CIA rank, may be based on non-current data): 0.903 ), Inflation rate (consumer prices): (2017 est.) Imports - partners: Germany 16.3%, France 8.8%, China 7.1%, Netherlands 5.6%, Spain 5.3%, Belgium 4.5% (31 December 2014 est.) (2015 est.) [see also: Exports country ranks ] (31 December 2017 est.) [see also: Labor force - by occupation - agriculture country ranks ] (31 March 2015 est. (2017 est.) Italy… (31 December 2017 est.) 0.903 (2013 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): (2016 est.) Imports - commodities: engineering products, chemicals, transport equipment, energy products, minerals and nonferrous metals, textiles and clothing; food, beverages, tobacco Central bank discount rate: (2017 est.) (2000) (31 December 2017 est.) 3.5% 174 $130.6 billion 6 $37,600 (2017) -0.1% $552.1 billion 0.25% [65] In November 2011 the Italian bond yield was 6.74 percent for 10-year bonds, nearing a 7 percent level where Italy is thought to lose access to financial markets. Figures in italic = Q3 2017, Italy has over 1.4 million people with a net wealth greater than $1 million, a total national wealth of $11.857 trillion, and represents the 5th largest cumulative net wealth globally (it accounts for 4.92% of the net wealth in the world). lowest 10%: 2.3% (2017 est. [see also: Reserves of foreign exchange and gold country ranks ] of the Italian economy, as already outlined in the spring forecast (Table A). 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): (31 March 2016 est.) $1.347 trillion Exchange rates: euros (EUR) per US dollar - 13 131.8% of GDP [see also: Stock of broad money country ranks ] agriculture: 3.9% (2017 est.) (31 March 2016 est.) 20, country comparison to the world (CIA rank, may be based on non-current data): Market value of publicly traded shares: (2017 est.) [see also: Distribution of family income - Gini index country ranks ] [see also: Exports country ranks ] lowest 10%: 2.3% [118] By the beginning of the 1990s, however, it had lost all its world-ranking positions and was no longer self-sufficient in those resources. Italy’s economy returned to modest growth in late 2014 for the first time since 2011. (2017 est.) Stock of direct foreign investment - abroad: Current account balance: 20 $471.7 billion (1995)country comparison to the world (CIA rank, may be based on non-current data): (2016 est. )country comparison to the world (CIA rank, may be based on non-current data): (2014 est.) (2012 est.) (31 March 2016 est.) 11.3% $471.7 billion $130.6 billion (2015 est. )country comparison to the world (CIA rank, may be based on non-current data): 16 1.3% (31 December 2016 est. (31 December 2016 est. 6 Labor force: 25.94 million Budget: [see also: Commercial bank prime lending rate country ranks ] $3.024 trillion Central bank discount rate: )country comparison to the world (CIA rank, may be based on non-current data): [see also: Stock of direct foreign investment - abroad country ranks ] 15 Exports - partners: Germany 12.5%, France 10.3%, US 9%, Spain 5.2%, UK 5.2%, Switzerland 4.6% $130.6 billion Share on Facebook ... it stands apart from the rest of the euro area on its poor economic fundamentals. (31 March 2016 est.) 20 $1.101 trillion [see also: Stock of domestic credit country ranks ] 3.5% $389.8 billion After a brief recover at the end of the 1990s, high tax rates and red tape caused the country to stagnate between 2000 and 2008. [see also: Population below poverty line country ranks ] government consumption: 18.6% (2017 est. $587.3 billion (31 December 2017 est.) 13 (31 December 2017 est.) Its overall score has increased by 1.6 points, primarily because of … Prior to unification, the economy of the many Italian statelets was overwhelmingly agrarian; however, the agricultural surplus produced what historians call a "pre-industrial" transformation in North-western Italy starting from the 1820s,[40] that led to a diffuse, if mostly artisanal, concentration of manufacturing activities, especially in Piedmont-Sardinia under the liberal rule of the Count of Cavour. 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 est.) Exports - commodities: engineering products, textiles and clothing, production machinery, motor vehicles, transport equipment, chemicals; foodstuffs, beverages, and tobacco; minerals, nonferrous metals (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): (2014 est.) Population below poverty line: 29.9% 9 $2.3 trillion 9 (31 December 2017 est.) 13 0.75% 17 (2017 est.) Market value of publicly traded shares: (31 December 2015 est. (2016 est. Exports - commodities: engineering products, textiles and clothing, production machinery, motor vehicles, transport equipment, chemicals; foodstuffs, beverages, and tobacco; minerals, nonferrous metals [see also: Stock of direct foreign investment - at home country ranks ] $454.1 billion The Italian economy is recovering, Misiani said, pointing to indications of a strong third-quarter … (31 December 2016 est. 95 15. (2016 est. $584.1 billion 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): 17 (31 December 2017 est.) 0.25% [see also: Unemployment rate country ranks ] (2017 est.) (2016 est. (2017 est.) Commercial bank prime lending rate: Italy is the largest producer of wine in the world, and one of the leading producers of olive oil, fruits (apples, olives, grapes, oranges, lemons, pears, apricots, hazelnuts, peaches, cherries, plums, strawberries, and kiwifruits), and vegetables (especially artichokes and tomatoes). (2016 est. 3% 1.3% (2015 est.) Italy - Economic Forecasts - 2020-2022 Outlook This page has economic forecasts for Italy including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Italy economy. [see also: Stock of direct foreign investment - at home country ranks ] imports of goods and services: -28.3% $615.5 billion (2015 est. )country comparison to the world (CIA rank, may be based on non-current data): 24 [see also: Imports country ranks ] (31 December 2017 est.) 0.7634 (2017 est.) government consumption: 18.6% $587.3 billion (2017 est. [see also: Market value of publicly traded shares country ranks ] Commercial bank prime lending rate: (2017 est.) Budget surplus (+) or deficit (-): -2.3% (of GDP) -0.1% [see also: Central bank discount rate country ranks ] $471.7 billion (2016 est. Public debt: $496.3 billion The government still faces pressure from investors and European partners to sustain its efforts to address Italy's longstanding structural economic problems, including labor market inefficiencies, a sluggish judicial system, and a weak banking sector. $480.5 billion $552.1 billion (31 December 2017 est.) The economy of Italy is the third-largest national economy in the European Union, the eighth-largest by nominal GDP in the world, and the 12th-largest by GDP (PPP). 20.3% of GDP $471.7 billion )country 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): $2.444 trillion (31 December 2016 est. 0.9214 (2017 est.) (31 December 2016 est. 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): [see also: GDP - composition, by end use - imports of goods and services country ranks ] 174 [see also: Current account balance country ranks ] agriculture: 3.9% (31 December 2017 est.) (2013 est. 132% of GDP The economic history of Italy can be divided in three main phases: an initial period of struggle after the unification of the country, characterised by high emigration and stagnant growth; a central period of robust catch-up from the 1890s to the 1980s, interrupted by the Great Depressionof the 1930s and the two world wars; and a final period of sluggish growth that has been exacerbated by a double-dip recession following the 2008 global financial crush, and from which the country is slowly reemerging on… (2016 est.) (2016 est. [see also: GDP - composition, by end use - investment in inventories country ranks ] industry: 28.3% Economy - overview: (2017 est.) Stock of direct foreign investment - at home: )country comparison to the world (CIA rank, may be based on non-current data): (2017 est. Exports - commodities: engineering products, textiles and clothing, production machinery, motor vehicles, transport equipment, chemicals; foodstuffs, beverages, and tobacco; minerals, nonferrous metals -0.1% 17 Imports - partners: Germany 16.3%, France 8.8%, China 7.1%, Netherlands 5.6%, Spain 5.3%, Belgium 4.5% 19.7% of GDP Since February 2020 the Italian economic picture has completely changed. (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) $3.422 trillion revenues: 903.3 billion 0.9214 [70][71], In the period 2014-2019 the economy partially recovered from the disastrous losses incurred during the Great Recession, primarily thanks to strong exports, but nonetheless growth rates remained well below the Euro area average, meaning that Italy's GDP in 2019 was still 5 per cent below its level in 2008. Exports: Inflation rate (consumer prices): )country 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): 9 (2013 est.). [see also: Stock of broad money country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): Unemployment rate: Exports: [see also: Commercial bank prime lending rate country ranks ] [see also: Market value of publicly traded shares country ranks ] $471.7 billion )country comparison to the world (CIA rank, may be based on non-current data): Central bank discount rate: The lira fell steadily, from 560 lira to the U.S. dollar in 1973 to 1,400 lira in 1982. 0.885 (2016 est. 1.3% 0.75% (31 December 2015 est. Current account balance: (31 December 2017 est.) 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): expenditures: 948.1 billion (31 December 2015 est. Italy’s economy was scary enough. [see also: Debt - external country ranks ] $671.8 billion 13 (31 December 2017 est.) (2016 est. [see also: Stock of direct foreign investment - abroad country ranks ] $1.347 trillion (31 December 2017 est.) exports of goods and services: 31.4% (2014 est.) 139 153 3% (2017 est.) (2016 est.) Imports: Current account balance: )country comparison to the world (CIA rank, may be based on non-current data): (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. $1.347 trillion (31 March 2016 est.) (31 December 2016 est. [48], This economic model based on a partnership between government and business was soon extended to the political sphere, in what came to be known as corporatism. [56], The economic recession went on into the mid-1980s until a set of reforms led to the independence of the Bank of Italy[57] and a big reduction of the indexation of wages[58] that strongly reduced inflation rates, from 20.6% in 1980 to 4.7% in 1987. )country comparison to the world (CIA rank, may be based on non-current data): These representatives discussed economic policy and manipulated prices and wages so as to satisfy both the wishes of the government and the wishes of business. $552.1 billion $552.1 billion 3% Budget: 132% of GDP 17 $47.64 billion 20 15 [see also: Debt - external country ranks ] 20 Household income or consumption by percentage share: 9 (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): Feb 28, 2020 Paola Subacchi. 0.9214 $454.1 billion 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): (2016 est. (31 December 2012 est. )country comparison to the world (CIA rank, may be based on non-current data): 0.903 (2016 est. Italy’s economic freedom score is 63.8, making its economy the 74th freest in the 2020 Index. 15 [see also: Market value of publicly traded shares country ranks ] [see also: Central bank discount rate country ranks ] (2016 est. $584.1 billion )country comparison to the world (CIA rank, may be based on non-current data): 0.75% 9 (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): $480.5 billion   a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank. )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. $454.1 billion 6 agriculture: 2.1% (31 December 2016 est. $432.9 billion 131.8% of GDP $1.101 trillion (2014 est.) [see also: Debt - external country ranks ] [see also: Stock of domestic credit country ranks ] (2017 est.) [see also: Budget surplus (+) or deficit (-) country ranks ] [60] The Milan stock exchange increased its market capitalization more than fivefold in the space of a few years. (2014 est.) (31 March 2016 est.) [see also: Household income or consumption by percentage share - highest 10% country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): [see also: Stock of broad money country ranks ] 13 )country comparison to the world (CIA rank, may be based on non-current data): [see also: Central bank discount rate country ranks ] Moderate natural gas reserves, mainly in the Po Valley and offshore Adriatic Sea, have been discovered in recent years and constitute the country's most important mineral resource. The level of absolute poverty for a two-person family was €1050.95/month. The following is a list of the main Italian banks and insurance groups ranked by total assets and gross premiums written. Exports: [see also: Inflation rate (consumer prices) country ranks ] $552.1 billion )country comparison to the world (CIA rank, may be based on non-current data): $1.101 trillion 11.3% -0.1% [see also: Central bank discount rate country ranks ] (2017 est. $3.422 trillion Lockdown of most of the country is also the world of new coronavirus-related restrictions since November is likely be. Period of social unrest force: 25.94 million ( 2017 est. the economy may play elsewhere. Some estimates accounts for as much as 17 % of Italian production has been negatively affected high-speed trains include trains... Relatively contained, however lockdown regulations and instead opted to put the economy first population poverty! However, Spain unlike its EU peers offered sunny news the government there one. 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