by the French flag brought to Italy by Napoleon in
1797

Italy Economy

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 more than 20% unemployment. Most
raw materials needed by industry and more than 75% of energy
requirements are imported. Since 1992, Italy has adopted budgets
compliant with the requirements of the European Monetary Union
(EMU); wage moderation agreements by representatives of government,
labor, and employers have helped to bring Italy's inflation into
conformity with EMU requirements. Italy's economic performance,
however, has lagged behind that of its EU partners and it must work
to stimulate employment, promote labor flexibility, reform its
expensive pension system, and tackle the informal economy.

GDP: purchasing power parity - $1.273 trillion (2000 est.)

GDP - real growth rate: 2.7% (2000 est.)

GDP - per capita: purchasing power parity - $22,100 (2000 est.)

GDP - composition by sector: agriculture: 2.5%

industry: 30.4%

services: 67.1% (2000 est.)

Population below poverty line: NA%

Household income or consumption by percentage share: lowest 10%:
3.5%

highest 10%: 21.8% (1995)

Inflation rate (consumer prices): 2.5% (2000)

Labor force: 23.4 million (2000)

Labor force - by occupation: services 61.9%, industry 32.6%,
agriculture 5.5% (1999)

Unemployment rate: 10.4% (2000 est.)

Budget: revenues: $488 billion

expenditures: $501 billion, including capital expenditures of $NA
(2000 est.)

Industries: tourism, machinery, iron and steel, chemicals, food
processing, textiles, motor vehicles, clothing, footwear, ceramics

Industrial production growth rate: 1.9% (2000)

Electricity - production: 247.679 billion kWh (1999)

Electricity - production by source: fossil fuel: 79.09%

hydro: 18.08%

nuclear: 0%

other: 2.83% (1999)

Electricity - consumption: 272.35 billion kWh (1999)

Electricity - exports: 530 million kWh (1999)

Electricity - imports: 42.539 billion kWh (1999)

Agriculture - products: fruits, vegetables, grapes, potatoes, sugar
beets, soybeans, grain, olives; beef, dairy products; fish

Exports: $241.1 billion (f.o.b., 2000)

Exports - commodities: engineering products, textiles and clo