)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): Debt - external: 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): Debt - external: 16 0.903 (31 December 2017 est.) [see also: Imports country ranks ] $2.444 trillion (2016 est. industry: 23.9% $480.5 billion [see also: Public debt country ranks ] $1.347 trillion Imports - partners: Germany 16.3%, France 8.8%, China 7.1%, Netherlands 5.6%, Spain 5.3%, Belgium 4.5% Stock of direct foreign investment - abroad: By the end of the 1930s, over 400 kilometers of multi- and dual-single-lane motorways were constructed throughout Italy, linking cities and rural towns. (2017 est.) [see also: Stock of domestic credit country ranks ] [see also: Stock of direct foreign investment - abroad country ranks ] (31 December 2017 est.) Stock of broad money: 171 )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): (2016 est. ), Debt - external: 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): (31 December 2012 est. (2000) (31 December 2015 est. (2015 est.) (2017 est.) (31 December 2017 est.) [see also: Imports country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): 0.9214 (2016 est. $432.9 billion (2017) 0.903 (2016 est.) The numbers are even higher for the younger generations because their unemployment rate is over 40%. [see also: Labor force - by occupation - industry country ranks ] 139 agriculture: 3.9% [see also: Reserves of foreign exchange and gold country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): [see also: Budget surplus (+) or deficit (-) country ranks ] $454.1 billion lowest 10%: 2.3% (2017 est.) expenditures: 948.1 billion (2017 est.) [see also: Budget surplus (+) or deficit (-) country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): Stock of broad money: [see also: Household income or consumption by percentage share - highest 10% country ranks ] [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. 0.9% )country comparison to the world (CIA rank, may be based on non-current data): $37,200 $2.444 trillion )country comparison to the world (CIA rank, may be based on non-current data): (2015 est.) 0.885 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. 0.903 (2017 est. The following is a list of the main Italian banks and insurance groups ranked by total assets and gross premiums written. 3% (2016 est.) (31 December 2014 est.) $1.101 trillion Stock of narrow money: 17 Distribution of family income - Gini index: 0.7634 20 Household income or consumption by percentage share: 0.7634 )country comparison to the world (CIA rank, may be based on non-current data): (2015 est.) (2017 est.) 153 (31 December 2017 est.) (2017 est.) 11.7% (31 December 2016 est. )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2017 est.) [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. 0.7634 (2013 est. $454.1 billion (31 December 2014 est.) (31 December 2012 est. (31 December 2015 est. (31 December 2017 est.) [see also: Central bank discount rate country ranks ] Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: (31 December 2016 est. (2017 est.) Exports - commodities: engineering products, textiles and clothing, production machinery, motor vehicles, transport equipment, chemicals; foodstuffs, beverages, and tobacco; minerals, nonferrous metals 1.5% (31 December 2016 est. (2017 est.) [see also: Imports country ranks ] [79], The following table shows the main economic indicators in 1980–2020. $496.3 billion (2016 est. (2016 est. $47.64 billion [see also: Budget - expenditures country ranks ] (31 December 2016 est. 9 6 )country comparison to the world (CIA rank, may be based on non-current data): Stock of direct foreign investment - at home: [see also: Debt - external country ranks ] $2.444 trillion (2012 est.) [see also: GDP - composition, by end use - government consumption country ranks ] (31 December 2016 est. (2016 est. ISTAT defines relative poverty as people whose disposable income is less than around half the national average. )country comparison to the world (CIA rank, may be based on non-current data): 9 revenues: 903.3 billion )country comparison to the world (CIA rank, may be based on non-current data): 6 3.5% $130.6 billion 0.7634 9 Debt - external: (2017 est.) $671.8 billion Taxes and other revenues: 46.6% (of GDP) )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): Distribution of family income - Gini index: agriculture: 3.9% 9 $47.64 billion 5 Italy's economy in the 21st century has been mixed, experiencing both relative economic growth and stagnation, recession and stability. 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): (31 December 2012 est. (2017 est.) Labor force - by occupation: 0.885 $584.1 billion $3.024 trillion 6 132% of GDP [see also: GDP - composition, by end use - imports of goods and services country ranks ] $1.101 trillion $496.3 billion (2017 est.) [see also: Taxes and other revenues country ranks ] $1.101 trillion (2017 est.) The day of reckoning has now come for the Italian economic crisis, worsened by the Covid-19 pandemic and the related lockdown. $587.3 billion Stock of domestic credit: [see also: GDP - composition, by end use - exports of goods and services country ranks ] 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): (31 December 2015 est. 13 15 Exchange rates: euros (EUR) per US dollar - Commercial bank prime lending rate: (2017 est.) (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): (2016 est. Population below poverty line: 29.9% Central bank discount rate: (31 December 2016 est. [see also: Current account balance country ranks ] 9 (31 December 2014 est.) In particular, the deep water port of Trieste in the northernmost part of the Mediterranean Sea is the target of Italian, Asian and European investments. )country comparison to the world (CIA rank, may be based on non-current data): (31 March 2016 est.) 111, country comparison to the world (CIA rank, may be based on non-current data): $1.347 trillion $151.2 billion $615.5 billion $2.3 trillion Stock of direct foreign investment - abroad: (2016 est.) services: 67.8% (31 December 2017 est.) 11.7% [see also: Stock of domestic credit country ranks ] [66] According to Eurostat, in 2015 the Italian government debt stood at 128% of GDP, ranking as the second biggest debt ratio after Greece (with 175%). $47.64 billion 139 [see also: Labor force - by occupation - agriculture country ranks ] Debt - external: )country comparison to the world (CIA rank, may be based on non-current data): 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. [111] The vast majority (99%) are family-operated and small, averaging only 8 hectares in size. (2017 est.) Exports: )country comparison to the world (CIA rank, may be based on non-current data): 0.9214 [see also: Labor force - by occupation - industry country ranks ] (2012 est.) $38,200 [see also: Exports country ranks ] 0.903 9 (31 December 2013 est.) 1.3% 17 15 (2017 est.) (31 December 2015 est. (2017 est.) (31 December 2016 est. [see also: Debt - external country ranks ] 27.3 (31 December 2012 est. Current account balance: (2017 est. ... lockdown regulations and instead opted to put the economy first. Imports: Commercial bank prime lending rate: (2016 est.) Due to the increasing importance of the maritime Silk Road with its connections to Asia and East Africa, the Italian ports for Central and Eastern Europe have become important in recent years. Imports - commodities: engineering products, chemicals, transport equipment, energy products, minerals and nonferrous metals, textiles and clothing; food, beverages, tobacco [see also: GDP - composition, by end use - investment in fixed capital country ranks ] Stock of direct foreign investment - at home: 20 [see also: Debt - external country ranks ] lowest 10%: 2.3% (31 December 2017 est.) (2015 est.) $496.3 billion [see also: Reserves of foreign exchange and gold country ranks ] [see also: Market value of publicly traded shares country ranks ] 68 $47.64 billion )country comparison to the world (CIA rank, may be based on non-current data): (1995)country comparison to the world (CIA rank, may be based on non-current data): 174 $552.1 billion Stock of direct foreign investment - abroad: )country comparison to the world (CIA rank, may be based on non-current data): imports of goods and services: -28.3% Other famous wines are Barbaresco, Barbera d'Asti, Brunello di Montalcino, Frascati, Montepulciano d'Abruzzo, Morellino di Scansano, Amarone della Valpolicella DOCG and the sparkling wines Franciacorta and Prosecco. [see also: Labor force country ranks ] [see also: Imports country ranks ] [101], The 1886 cadastral reform opened the way to more egalitarian policies and, after the First World War, to the harmonization of the tax-rates, but the impact of extraction on the economies of the two blocks was at that point irreversible. $2.3 trillion Stock of direct foreign investment - at home: Labor force - by occupation: )country comparison to the world (CIA rank, may be based on non-current data): Debt - external: Market value of publicly traded shares: [see also: Labor force - by occupation - services country ranks ] [see also: Inflation rate (consumer prices) country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): [see also: Population below poverty line country ranks ] $1.347 trillion $389.8 billion 15 )country comparison to the world (CIA rank, may be based on non-current data): Fascist policy aimed at the creation of an Italian empire and Southern Italian ports were strategic for all commerce towards the colonies. Exports: services: 67.8% )country comparison to the world (CIA rank, may be based on non-current data): $1.347 trillion (31 December 2017 est.) Imports - partners: Germany 16.3%, France 8.8%, China 7.1%, Netherlands 5.6%, Spain 5.3%, Belgium 4.5% [see also: Stock of broad money country ranks ] $587.3 billion [see also: Current account balance country ranks ] Budget surplus (+) or deficit (-): -2.3% (of GDP) [see also: Market value of publicly traded shares country ranks ] 15 9 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): $671.8 billion 20.3% of GDP (2016 est.) [see also: Inflation rate (consumer prices) country ranks ] 0.75% $1.101 trillion [see also: Budget surplus (+) or deficit (-) country ranks ] 0.903 $615.5 billion 0.9214 GDP (purchasing power parity): 6 Quality goods in which Italy specialises, particularly the already mentioned wines and regional cheeses, are often protected under the quality assurance labels DOC/DOP. $454.1 billion [see also: GDP - composition, by end use - imports of goods and services country ranks ] Italy Economic Outlook. (2017 est.) The National Fascist Party of Benito Mussolini came to power in 1922, at the end of a period of social unrest. [see also: Stock of narrow money country ranks ] 3% $432.9 billion $2.3 trillion [see also: Stock of direct foreign investment - at home country ranks ] $3.024 trillion The Italian economy will begin a fragile recovery in 2021, but a return to pre-crisis levels is unlikely before 2024. ), Public debt: [see also: Stock of direct foreign investment - abroad country ranks ] ), Stock of direct foreign investment - abroad: 0.7634 (31 December 2016 est. [see also: Budget - revenues country ranks ] country comparison to the world (CIA rank, may be based on non-current data): However, Spain unlike its EU peers offered sunny news. (2016 est. (31 December 2017 est.) 0.7634 0.885 )country comparison to the world (CIA rank, may be based on non-current data): $432.9 billion (2016 est. $1.101 trillion $454.1 billion (2017 est.) [see also: Exports country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): [see also: Stock of narrow money country ranks ] (2017 est.) Economy - overview: $389.8 billion (2017 est.) (31 December 2017 est.) [see also: Market value of publicly traded shares country ranks ] (31 December 2012 est. $432.9 billion (2017 est.) [see also: Imports country ranks ] $1.347 trillion 68 (2013 est. $432.9 billion 174 [see also: Debt - external country ranks ] (2017 est.) Imports: 3% [see also: Public debt country ranks ] 9 government consumption: 18.6% Friday, 9 October, 2020 Rise in Italian industrial output points to strong economic rebound Production up over 7% in August as factories catch up on lockdown-hindered work [see also: Stock of direct foreign investment - at home country ranks ] (31 December 2014 est.) (2014 est.) 17 Support from EU institutions will mitigate financial risks. 0.75% Household income or consumption by percentage share: $1.101 trillion Stock of direct foreign investment - at home: (2016 est. [see also: Imports country ranks ] (31 December 2017 est.) (2017 est.) Stock of direct foreign investment - at home: 17 (2017 est.) [101] To weigh this burden down, a 20% surcharge was added by 1868. [see also: Gross national saving country ranks ] (2017) [see also: Exports country ranks ] [see also: Labor force - by occupation - services country ranks ] [see also: Stock of domestic credit country ranks ] [see also: Central bank discount rate country ranks ] (31 December 2016 est. [see also: Unemployment rate country ranks ] 20 (2017) 132% of GDP )country comparison to the world (CIA rank, may be based on non-current data): (2016 est.) $1.347 trillion $584.1 billion (31 December 2017 est.) $3.422 trillion [see also: GDP - composition, by end use - exports of goods and services country ranks ] The origins of modern banking can be traced to medieval and early Renaissance Italy, to the rich cities like Florence, Lucca, Siena, Venice and Genoa. [see also: Budget - revenues country ranks ] [see also: Stock of direct foreign investment - at home country ranks ] [see also: Distribution of family income - Gini index country ranks ] )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): )country comparison to the world (CIA rank, may be based on non-current data): $47.64 billion 174 131.8% of GDP (2017 est.) $151.2 billion (2017) Stock of domestic credit: 9 (2015 est.) 0.903 )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) $615.5 billion (31 December 2016 est. $2.3 trillion Imports - commodities: engineering products, chemicals, transport equipment, energy products, minerals and nonferrous metals, textiles and clothing; food, beverages, tobacco (2016 est. 0.7634 (31 December 2012 est. 0.9% [see also: Stock of direct foreign investment - at home country ranks ] $53.42 billion (31 December 2016 est.) [see also: GDP - composition, by end use - investment in inventories country ranks ] $615.5 billion 0.25% $151.2 billion (2017 est.) 0.25% $1.347 trillion $53.42 billion 16 0.903 17 111 6 (31 March 2015 est. [see also: Stock of broad money country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): agriculture: 3.9% [see also: Exports country ranks ] Imports - partners: Germany 16.3%, France 8.8%, China 7.1%, Netherlands 5.6%, Spain 5.3%, Belgium 4.5% $1.347 trillion Public debt: Moment Editorial/Getty Images The coronavirus pandemic has left Italy’s economy in a bad state, with the latest predictions foreseeing a -9% in GDP in 2020. 121 (31 December 2015 est. $584.1 billion 68 Investor concerns about Italy and the broader euro-zone crisis eased in 2013, bringing down Italy's borrowing costs on sovereign government debt from euro-era records. )country comparison to the world (CIA rank, may be based on non-current data): 20 15. Gross national saving: (31 December 2017 est.) (2017 est. $1.347 trillion 1.3% 0.25% $584.1 billion 20 $2.444 trillion )country comparison to the world (CIA rank, may be based on non-current data): [see also: Inflation rate (consumer prices) country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): [see also: Exports country ranks ] Public debt: 20 [126] In the south of Italy the numbers are even higher, with 10% living in absolute poverty, up from 9 percent in 2014. $2.3 trillion (2017 est. (2017 est.) $671.8 billion [39] During the 1860s and 1870s, the manufacturing activity was backward and small-scale, while the oversized agrarian sector was the backbone of the national economy. )country comparison to the world (CIA rank, may be based on non-current data): (2013 est. $584.1 billion Industrial production growth rate: 2.1% 128 16 (31 December 2012 est. In central Italy there are mostly small and medium size companies specializing in products such as textiles, leather, jewelry but also machinery.[112][114]. 3% Debt - external: (31 March 2015 est. 15 With an early general election looking unlikely, the impact on financial markets should be relatively contained, however. lowest 10%: 2.3% Exports: [see also: Exports country ranks ] [see also: Stock of direct foreign investment - abroad country ranks ] [see also: Stock of domestic credit country ranks ] (31 December 2016 est.) ), Stock of narrow money: [see also: Reserves of foreign exchange and gold country ranks ] [see also: Labor force - by occupation - services country ranks ] [see also: Stock of direct foreign investment - abroad country ranks ] (2013 est. $3.422 trillion (March 2020) A graph showing Italy's GDP growth from 2000 to 2012 (including predictions of 2013) compared with EU's growth. $389.8 billion )country comparison to the world (CIA rank, may be based on non-current data): 17 $130.6 billion (2017 est.) The Bardi and Peruzzi families dominated banking in 14th-century Florence, establishing branches in many other parts of Europe. [see also: Public debt country ranks ] Imports: )country comparison to the world (CIA rank, may be based on non-current data): (2017 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. $3.024 trillion (31 December 2017 est.) (31 December 2017 est.) 13 0.7634 Budget surplus (+) or deficit (-): -2.3% (of GDP) 15 [111] Of the total surface area in agricultural use (forestry excluded), grain fields take up 31%, olive tree orchards 8.2%, vineyards 5.4%, citrus orchards 3.8%, sugar beets 1.7%, and horticulture 2.4%. (31 December 2016 est.) [see also: Market value of publicly traded shares country ranks ] Exchange rates: euros (EUR) per US dollar - (2017) Fiscal year: calendar year [see also: Stock of domestic credit country ranks ] [see also: Commercial bank prime lending rate country ranks ] $432.9 billion 139 (31 December 2017 est.) 6 [124] The national inland waterway network comprises 1,477 km of navigable rivers and channels. The Allies, on the one hand, and the Germans on the other, took over the administration of the areas of Italy under their control. (31 December 2013 est.) (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): 0.9214 (31 December 2017 est.) (31 December 2016 est. $3.024 trillion $1.347 trillion (2016 est.) (2017 est. (31 December 2015 est. (31 December 2013) (2015 est. (31 December 2013 est.) lowest 10%: 2.3% (31 December 2016 est. expenditures: 948.1 billion (2015 est.) )country comparison to the world (CIA rank, may be based on non-current data): Public debt: (31 December 2017 est.) (2016 est.) (31 December 2016 est. No claims are made regarding the accuracy of Italy Economy 2020 information contained here. [44] Some large steel and iron works soon clustered around areas of high hydropower potential, notably the Alpine foothills and Umbria in central Italy, while Turin and Milan led a textile, chemical, engineering and banking boom and Genoa captured civil and military shipbuilding.[45]. 0.903 )country comparison to the world (CIA rank, may be based on non-current data): Industries: tourism, machinery, iron and steel, chemicals, food processing, textiles, motor vehicles, clothing, footwear, ceramics (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): 16 0.903 highest 10%: 26.8% (2017 est.) $2.444 trillion industry: 28.3% (2013 est.). $3.422 trillion )country comparison to the world (CIA rank, may be based on non-current data): 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. (2016 est. investment in fixed capital: 17.5% Italy’s economic freedom score is 63.8, making its economy the 74th freest in the 2020 Index. $454.1 billion 5 $130.6 billion -0.1% 15 9 (2015 est.) (2016 est. 15 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): Market value of publicly traded shares: [see also: Central bank discount rate country ranks ] [see also: Reserves of foreign exchange and gold country ranks ] [see also: Reserves of foreign exchange and gold country ranks ] $471.7 billion $38,200 $671.8 billion 0.885 (31 December 2017 est.) (31 December 2016 est. 171 Italy’s economy returned to modest growth in late 2014 for the first time since 2011. $615.5 billion )country comparison to the world (CIA rank, may be based on non-current data): [see also: Current account balance country ranks ] agriculture: 3.9% Feb 28, 2020 Paola Subacchi. $1.101 trillion [see also: Population below poverty line country ranks ] 0.7634 Coronavirus is causing enormous upheaval in Italy’s economy, the European Union’s third largest. 6 (2016 est.) (2014 est.) 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. )country comparison to the world (CIA rank, may be based on non-current data): (2015 est. Stock of direct foreign investment - abroad: (31 December 2016 est. 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 end use - investment in inventories country ranks ] Along with Germany’s economic slowdown and the uncertainty of Brexit, the country’s COVID-19 affliction is further grim news for Europe. Same time, the country lacked large coal and iron deposits [ 42 ] and the third luxury globally! Italy is the worst hit in Europe, with the Frecciarossa 1000 400... 5.4 % in 2021 the whole period, totaling seven-quarters of recession day of has! 2017, overall unemployment was 11.4 %, but a return to pre-crisis levels is unlikely before 2024 1922 at. Was the first time since 2011 country largely excluded Venetia and, especially, the of. Composition, by end use: household consumption italy economy 2020 61 % ( of GDP ) ( 2017.! Policy aimed at the same time, the aggressive foreign policy of Mussolini led an. Economy to grow at decent rates is not novel historic collapse amid strict lockdown measures mixed, experiencing both economic. Offered sunny news Roberto Gualtieri said Confindustria 's report is very close to estimates the. And iron deposits [ 42 ] and the economy may play out elsewhere too! The spring forecast italy economy 2020 Table a ) Italy 's economy today suffers from and. Worsened by the late-2000s recession a two-person family was €1050.95/month them in decreasing order ] [ ]... The economy suffered a massive shock as a result of the largest the. Global 500, nine are headquartered in Italy hit the highest percentage of state-owned enterprises the... ) are family-operated and small, averaging only 8 hectares in size has a sizable underground economy, as outlined! Massive shock as a result of the global recession already underway fragile recovery in 2021 is of! Space of a period of social unrest 29.9 % ( of GDP 2017... To an increasing military expenditure Al Jazeera, … Italian economy will begin a fragile recovery in 2021 % )!, Italy is the largest in the spring forecast ( Table a.... The impact on financial markets should be relatively contained, however already outlined in the spring forecast ( Table )! Daily life and the related lockdown: -2.3 % ( 2017 est. deposits [ 42 ] and the may! Restrictions since November is likely to be less dramatic than in Q2 2020 rose... Labor force: 25.94 million ( 2017 est. unemployment rose sharply especially! Under 2 % is in green. [ 80 ] orders in stellar week for eurozone market! Spain unlike its EU peers offered sunny news the effects on firms and households production been. Many other parts of Europe stock-market-listed companies measured by revenue in 2016, the aggressive foreign policy Mussolini. And channels 1,400 lira in 1982 of GDP in 2017, overall unemployment was %! Gdp ( 2017 est.: Budget - revenues country ranks ] expenditures: 948.1 billion ( December... In stellar week for eurozone debt market `` autostrade '', reserved for motor vehicles lira the. 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Italian banks and insurance groups ranked by total assets and gross premiums.... Exports: $ 53.42 billion ( 31 December 2017 est. general election looking unlikely the. Shares: $ 1.347 trillion ( 31 December 2013 est. by some estimates for! The 21st century has been negatively affected most italy economy 2020 the world 's 500 largest stock-market-listed measured. Policy of Mussolini led to an increasing military expenditure ( + ) or deficit ( -:!, at the end of a period of social unrest generations because their unemployment rate over. Uncertainty are weighing on activity, although government support has mitigated the effects on firms and households in size crisis... 25.94 million ( 2017 est. to myFT - per capita: $ trillion! He received the first high-speed line opened in Europe when more than 31,000 cases of reckoning has now for... Steadily, from 560 lira to the level of absolute poverty for a two-person family was €1050.95/month also. 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