Italy: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
High Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developed |
| Economic Trivia | Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, where unemployment is high. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2021): Germany, France, and United States |
| Top Industries Source: CIA World Factbook | Tourism; Machinery; Iron and Steel; Chemicals |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $3,052,609,059,236 (2022) |
| GDP Growth Rate (annual %) | 3.675% (2022) |
| GDP Per Capita, PPP (current international) | $51,865 (2022) |
GDP Country Rank 12/197 (2022)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 8.201% (2022) |
| External debt stocks, total (DOD, current US$) | Data unavailable |
| Total tax rate (% of commercial profits) | 59.1% (2019) |
| Real Interest Rate (5 year average %) | -0.724% (2022) |
| Manufacturing, value added (% of GDP) | 14.123% (2022) |
| Current Account Balance (BoP, current US$) | ($26,658,107,761) (2022) |
Labor and Employment [1]
| Labor Force, Total | 25,481,769 (2022) |
| Employment in Agriculture (% of total employment) | 4.05% (2021) |
| Employment in Industry (% of total employment) | 26.639% (2021) |
| Employment in Services (% of total employment) | 69.31% (2021) |
| Unemployment Rate | 8.094% (2022) |
Trade [1]
| Imports of goods and services (current US$) | $777,843,327,470 (2022) |
| Exports of goods and services (current US$) | $746,867,585,865 (2022) |
| Total Merchandise Trade (% of GDP) | 66.97% (2022) |
| FDI, net inflows (BoP, current US$) | $31,228,075,332 (2022) |
| Commercial Service Exports (current US$) | $122,220,782,633 (2022) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Italy’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.