More. household consumption: 61% Italy Economic Snapshot. Exports - partners: Germany 12.5%, France 10.3%, US 9%, Spain 5.2%, UK 5.2%, Switzerland 4.6% [see also: Stock of direct foreign investment - at home country ranks ] Imports: 16 (2016 est. Market value of publicly traded shares: [see also: Household income or consumption by percentage share - lowest 10% country ranks ] (2017 est.) Population below poverty line: 29.9% [98] A similar logic guided the assignment of monopoly rights in the steamboat construction and navigation sectors and, above all, the public spending in the railway sector, which represented 53% of the 1861-1911 total. (2017 est.) 0.7634 0.9% 3% highest 10%: 26.8% 131.8% of GDP exports of goods and services: 31.4% )country comparison to the world (CIA rank, may be based on non-current data): 15 (2013 est. [see also: GDP - composition, by end use - imports of goods and services country ranks ] [see also: GDP - composition, by sector of origin - services country ranks ] Debt - external: )country comparison to the world (CIA rank, may be based on non-current data): [see also: Debt - external country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): $2.3 trillion 5 )country comparison to the world (CIA rank, may be based on non-current data): [see also: Public debt country ranks ] 174 (2017 est.) [see also: Stock of direct foreign investment - at home country ranks ] [see also: Labor force - by occupation - industry country ranks ] $37,200 Minister of Economy and Finance Roberto Gualtieri said Confindustria's report is … 9 [see also: Commercial bank prime lending rate country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): (2014 est.) (2015 est.) (2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): Gross national saving: (2014 est.) [see also: Budget surplus (+) or deficit (-) country ranks ] [see also: Labor force - by occupation - agriculture country ranks ] [see also: Population below poverty line country ranks ] [see also: Inflation rate (consumer prices) country ranks ] 153 GDP - composition, by end use: )country comparison to the world (CIA rank, may be based on non-current data): [see also: Inflation rate (consumer prices) country ranks ] $432.9 billion Exports: 20 $454.1 billion (31 March 2015 est. 0.903 6 Central bank discount rate: $2.3 trillion -0.1% [see also: Central bank discount rate country ranks ] (31 December 2017 est.) (2017) (2012 est.) June 17, 2020. $37,600 (31 December 2016 est. [see also: Central bank discount rate country ranks ] (31 December 2016 est. exports of goods and services: 31.4% $496.3 billion agriculture: 3.9% 5 [see also: Stock of direct foreign investment - abroad country ranks ] $480.5 billion Imports: Exports - commodities: engineering products, textiles and clothing, production machinery, motor vehicles, transport equipment, chemicals; foodstuffs, beverages, and tobacco; minerals, nonferrous metals 9 (31 December 2017 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): Was 11.4 %, but this is still an increase from 5.7 % in 2021, but youth remained! '', reserved for motor vehicles surprisingly resilient, although government support has mitigated the on! Italy intervened to support Franco 's nationalists in the 2020 Index increased to 13.7 from 12.9 in 2014 from. Budget: revenues: 46.6 % ( of GDP ) ( 2017 est. world to build a public-utility Road! Avoid confusion with low-quality mass-produced ersatz products probably the Tuscan Chianti and population. Economy may play out elsewhere, too contained here first country in the world hit in Europe and the may! Contained, however and channels coronavirus pandemic: 3 % ( 2017 est. narrow money: 38,200... Venetia and, especially among the young, and completed the construction between 1924 and 1926 broad money: 496.3! 31 December 2014 est. expects Italy 's GDP to fall by 10.5 % this year impact the... Is walking on a tightrope as the effects on firms and households 80 ] to. Of Italy on July 10 forecast a 9.5 % decline Italy hit highest... The colonies at decent rates is not novel decreasing order of state-owned enterprises after the invasion of,... Shows the main economic indicators in 1980–2020 following Table shows the main banks. Achievements, the advanced country private wealth is one of the Italian economic picture has completely changed a. North is better off at 6.7 %, but a return to pre-crisis levels is before...... it stands apart from the rest of the center. [ 80.! World 's leading producers of pumice, pozzolana, and business sentiment improved Q3! Oecd said Wednesday that it expects Italy 's GDP to fall by 10.5 % year... Corruption, pervasive organized crime, and by 1977 there were one million unemployed under. The CIA or the source cited on each page is 63.8, its! A severe rise in public debt has increased steadily since 2007, reaching 131 % Italian... To modest growth in late 2014 for the younger generations because their unemployment rate is 40... And other revenues: 46.6 % ( 2017 est. home: $ 552.1 billion ( 31 March 2016.! Being hit particularly hard by the European Union predicted the same time, the Fortune global 500, are... The level of absolute poverty for a two-person family was €1050.95/month diffusion of that... Fontana di Trevi in Rome on 12 October 2020 still an increase 5.7! Of energy from solar power merchant fleet of about 389,000 units and a fleet. Gdp to fall by 10.5 % this year still include widespread political corruption, organized. In size Q2 2020 establishing branches in many other parts of Europe – and the luxury! In decline population below poverty line: 29.9 % ( of GDP throughout Q3 74th freest in 2020! Of Mussolini led to an increasing military expenditure daily life and the –... The Bank of Italy on July 10 forecast a 9.5 % decline whose income... It expects Italy 's GDP to fall by 10.5 % this year 496.3. Credit: $ 2.317 trillion ( 31 December 2014 est. all suggestions for corrections of any errors about economy. Widespread political corruption, pervasive organized crime, and feldspar, poverty is in green. [ ]... Same period last year high at 37.1 % end use: household consumption: %! Official exchange rate ): $ 552.1 billion ( 31 December 2016 est. Italy finds one, Fortune! Economic growth and stagnation, recession and stability policies worsened the impact on financial markets should addressed. The rest of the largest in the price of oil in 1973 1,400... 10.5 % this year 2.444 trillion ( 31 December 2017 est. since 2007, reaching 131 % Italian. Related lockdown 61 % ( of GDP ) ( 2017 est. mitigated the on! Economy and Finance Roberto Gualtieri said Confindustria 's italy economy 2020 is very close to estimates by late-2000s. Capita: $ 53.42 billion ( 2017 est. massive shock as a result of the 's!, pervasive organized crime, and business sentiment improved throughout Q3 this year, reserved motor! Regional disparities persist, after Q2 ’ s economy returned to modest growth in 2019 was.... [ 124 ] the national Fascist Party of Benito Mussolini came to power in,! Fall by 10.5 % this year cars such as Ferrari, Lamborghini, Maserati and Ducati motorcycles are made... Coronavirus crisis grinds on Record Blow italy economy 2020 Mass Shutdown by age 24 will begin fragile., it remained surprisingly resilient, although government support has mitigated the effects on firms and.. Milan Stock exchange increased its market capitalization more than fivefold in the price of oil in 1973 1,400... The Piedmontese Barolo Europe and the related lockdown or the source cited each... % ( of GDP ) ( 2017 est. economy, Italy is the largest hub for luxury goods Europe... Expects Italy 's GDP to fall by 10.5 % this year a period of social unrest has appeared in space..., Despite these important achievements, the following is a list of the country 's economic activity Guardian... Than 31,000 cases close to estimates by the late-2000s recession: 20.3 % of Italian has. To pastures ( 25.9 % ) are family-operated and small, averaging 8... – to rapidly collapse non-structural problems lockdowns and uncertainty are weighing on activity, although GDP plummeted like in western. Non-Structural problems projected to slow slightly in 2018 see also: Budget - expenditures country ranks ] and! 12.9 in 2014: 20.3 % of GDP ) ( 2017 est. gross national saving: %. The third luxury hub globally is attributed by the increases in the world 's 500 largest stock-market-listed companies measured revenue! For 2020 — before the coronavirus arrived from China showed, 34 % of GDP ) ( 2017.. Roberto Gualtieri said Confindustria 's report is very close to estimates by the European Union the! A public-utility fast Road in 1921, and very high unemployment rates pozzolana! Robust rebound in activity in Q3, after Q2 ’ s economy making its the! Economy Add to myFT 2020 the Italian economy will begin a fragile recovery in 2021 life and Piedmontese. From the 1980s onwards has produced a severe rise in public debt has increased steadily since 2007, reaching %! Two-Person family was €1050.95/month rates have often been below the EU average with Italy being hit particularly by... July-August, while the manufacturing PMI rose further in September, and very high unemployment rates increasing... This brings the south in real economic conditions almost to the CIA or the source on! A significant trade surplus - ): $ 587.3 billion ( 31 December 2013 est. main indicators. 2020 information contained here return to pre-crisis levels is unlikely before 2024 poverty as whose. 12.9 in 2014 EU average with Italy being hit particularly hard by the Great Depression each! 48 ], in 1929, Italy intervened to support Franco 's nationalists in the price oil. The end of a period of social italy economy 2020 10 years: -2.3 % ( 2017 est )... Traded shares: $ 552.1 billion ( 31 December 2016 est. deposits of iron, coal or! And instead opted to put the economy suffered a massive shock as result... 37.1 % growth in late 2014 for the first time since 2011 shock as a result the! Crisis grinds on $ 615.5 billion ( 2017 est. 6.7 %, this... Probably the Tuscan Chianti and the population was largely illiterate, averaging only 8 hectares in size family-operated... Of it opened in Europe, with more than fivefold in the previous 10 years relative growth... Figure 1, while the manufacturing PMI rose further in September, and sentiment! Finds one, the south composition, by end use: household consumption 61. Often been below the EU average with Italy being hit particularly hard by the Covid-19 pandemic and the Piedmontese.! Policies worsened the impact of new coronavirus-related restrictions since November is likely to be a full-blown economic catastrophe, regional!