my, with approximately the same total and per
capita output as France and the UK. The country is still divided into a
developed industrial north, dominated by small private companies, and an
undeveloped agricultural south, dominated by large public enterprises.
Services account for 48% of GDP, industry about 35%, agriculture 4%, and
public administration 13%. Most raw materials needed by industry and over
75% of energy requirements must be imported. After growing at an annual
average rate of 3% during the period 1983-90, growth slowed to about 1% in
1991. For the 1990s, Italy faces the problems of refurbishing a tottering
communications system, curbing pollution in major industrial centers, and
adjusting to the new competitive forces accompanying the ongoing economic
integration of the European Community.
GDP:
purchasing power equivalent - $965.0 billion, per capita $16,700; real
growth rate 1.0% (1991 est.)
Inflation rate (consumer prices):
6.5% (1991)
Unemployment rate:
11.0% (1991 est.)
Budget:
revenues $431 billion; expenditures $565 billion, including capital
expenditures of $48 billion (1991)
Exports:
$209 billion (f.o.b., 1991)
commodities:
textiles, wearing apparel, metals, transportation equipment, chemicals
partners:
EC 58.5%, US 8%, OPEC 4%
Imports:
$222 billion (c.i.f., 1991)
commodities:
petroleum, industrial machinery, chemicals, metals, food, agricultural
products
partners:
EC 58%, OPEC 7%, US 5%
External debt:
NA
Industrial production:
growth rate - 2.0% (1991); accounts for almost 35% of GDP
Electricity:
57,500,000 kW capacity; 235,000 million kWh produced, 4,072 kWh per capita
(1991)
Industries:
machinery, iron and steel, chemicals, food processing, textiles, motor
vehicles, clothing, footwear, ceramics
Agriculture:
accounts for about 4% of GDP and 10% of the work force; self-sufficient in
foods other than meat and dairy products; principal crops - fruits,
vegetables, grapes, potatoes, sugar beets, soybeans, grain, olives; fish
catch of 388,200 metric tons in 1988
Economic aid:
donor - ODA and OOF commitments (1970-89), $25.9 billion
Currency:
Italian lira (plural - lire); 1 Italian lira (Lit) = 100 centesimi
Exchange rates:
Italian lire (Lit) per US$1 - 1,248.4 (March 1992), 1,240.6 (January 1991),
1,198.1 (1990), 1,372.1 (19