X: [1] (202) 518-2151
consulate(s) general: Boston, Chicago, Houston, Miami, New York, Los
Angeles, Philadelphia, San Francisco
consulate(s): Detroit

Diplomatic representation from the US:

chief of mission: Ambassador Ronald P. SPOGLI
embassy: Via Vittorio Veneto 121, 00187-Rome
mailing address: PSC 59, Box 100, APO AE 09624
telephone: [39] (06) 46741
FAX: [39] (06) 488-2672, 4674-2356
consulate(s) general: Florence, Milan, Naples

Flag description:

three equal vertical bands of green (hoist side), white, and red;
similar to the flag of Ireland, which is longer and is green (hoist
side), white, and orange; also similar to the flag of the Cote
d'Ivoire, which has the colors reversed - orange (hoist side),
white, and green; inspired by the French flag brought to Italy by
Napoleon in 1797

Economy
Italy

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, welfare-dependent,
agricultural south, with 20% unemployment. Most raw materials needed
by industry and more than 75% of energy requirements are imported.
Over the past decade, Italy has pursued a tight fiscal policy in
order to meet the requirements of the Economic and Monetary Unions
and has benefited from lower interest and inflation rates. The
current government has enacted numerous short-term reforms aimed at
improving competitiveness and long-term growth. Italy has moved
slowly, however, on implementing needed structural reforms, such as
lightening the high tax burden and overhauling Italy's rigid labor
market and over-generous pension system, because of the current
economic slowdown and opposition from labor unions. But the
leadership faces a severe economic constraint: Italy's official debt
remains above 100% of GDP, and the government has found it difficult
to bring the budget deficit down to a level that would allow a rapid
decrease in that debt. The economy continues to grow by less than
the euro-zone average and growth is expected to decelerate from 1.9%
in 2006 and 2007 to under 1.5% in 2008 as the euro-zone and world
economies slow.

GDP (purchasing power parity):

$1.8 trillion (2007 est.)

GDP (official exchange rate):

$2.105 trillion (2007 est.)

GDP - real growth rate:

1.4% (2007 est.)

GDP - pe