STRENGTHS |
Italy Economy Quick Summary
Italy’s economy comprises a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, with a legacy of unemployment and underdevelopment. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family-owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction, and service sectors.
Characterisitic |
Fact |
Global Corporate Headquarters |
Fiat Chrysler Automobiles, Enel, TechInt, Leonardo, Edizione |
Terrain |
mostly rugged and mountainous; some plains, coastal lowlands |
Percentage of English Spoken |
29% |
Population |
62,390,364 (July 2021 est.) |
Target Cities |
Rome, Turin, Milian |
Main Industries |
Tourism, Agriculture, Automotive |
GDP Growth |
0.34% (2019 est.) |
Government |
parliamentary republic |
Relevant History |
Covid Pandemic |
Urbanization |
71% of total population (2020) |
Internet Connectivity |
74.39% (July 2018 est.) |
Moody's Credit Rating |
Baa3 (2018) |
Terrorism Threat |
Medium |
Defense |
Founding NATO Member |
VAT TAX |
22% |
Corruption Index Rank |
42 |
Deposable Income Rank |
|
Travel Advisory |
Level 4 Do Not Travel COVID-19 |
Economic freedom score |
65.4 |
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Economically Italy should should have moderate growth in the next post pandemic years, assuming no more variants emerge.
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