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Italy Economy - 2002 https://greekorthodoxchurch.org/wfb2002/italy/italy_economy.html SOURCE: 2002 CIA WORLD FACTBOOK Economy - overview Italy has a diversified industrial economy with roughly the same total and per capita output as France and the UK. This capitalistic economy remains divided into a developed industrial north, dominated by private companies, and a less developed agricultural south, with 20% unemployment. Most raw materials needed by industry and more than 75% of energy requirements are imported. Over the past decade, Italy has pursued a tight fiscal policy in order to meet the requirements of the Economic and Monetary Unions and has benefited from lower interest and inflation rates. Italy's economic performance has lagged behind that of its EU partners, and the current government has enacted numerous short-term reforms aimed at improving competitiveness and long-term growth. Rome has moved slowly, however, on implementing needed structural reforms, such as lightening the high tax burden and overhauling Italy's rigid labor market and expensive pension system, because of the current economic slowdown and opposition from labor unions. GDP purchasing power parity - $1.402 trillion (2001 est.) GDP - real growth rate 1.8% (2001 est.) GDP - per capita purchasing power parity - $24,300 (2001 est.) GDP - composition by sector
Population below poverty line NA% Household income or consumption by percentage share
Distribution of family income - Gini index 27.3 (1995) Inflation rate (consumer prices) 2.7% (2001) Labor force 23.6 million (2001 est.) Labor force - by occupation services 63%, industry 32%, agriculture 5% (2001) Unemployment rate 10% (2001 est.) Budget
Industries tourism, machinery, iron and steel, chemicals, food processing, textiles, motor vehicles, clothing, footwear, ceramics Industrial production growth rate -0.4% (2001) Electricity - production 257.408 billion kWh (2000) Electricity - production by source
Electricity - consumption 283.737 billion kWh (2000) Electricity - exports 484 million kWh (2000) Electricity - imports 44.831 billion kWh (2000) Agriculture - products fruits, vegetables, grapes, potatoes, sugar beets, soybeans, grain, olives; beef, dairy products; fish Exports $243 billion (f.o.b., 2001 est.) Exports - commodities engineering products, textiles and clothing, production machinery, motor vehicles, transport equipment, chemicals; food, beverages and tobacco; minerals and nonferrous metals Exports - partners EU 54.9% (Germany 15.1%, France 12.6%, UK 6.9%, Spain 6.2%), US 10.4% (2000) Imports $226 billion (f.o.b., 2001 est.) Imports - commodities engineering products, chemicals, transport equipment, energy products, minerals and nonferrous metals, textiles and clothing; food, beverages and tobacco Imports - partners EU 56.3% (Germany 17.5%, France 11.4%, Netherlands 5.9%, UK 5.4%), US 5.3% (2000) Debt - external $NA Economic aid - donor ODA, $1 billion (2002 est.) Currency
euro (EUR); Italian lira (ITL)
Currency code EUR; ITL Exchange rates euros per US dollar - 1.1324 (January 2002), 1.1175 (2001), 1.0854 (2000), 0.9386 (1999); Italian lire per US dollar - 1,688.7 (January 1999), 1,736.2 (1998), 1,703.1 (1997) Fiscal year
calendar year
NOTE: The information regarding Italy on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Italy Economy 2002 information contained here. All suggestions for corrections of any errors about Italy Economy 2002 should be addressed to the CIA. |