The Economy in Italy is multifarious in nature with almost the same total and per capita yield as Great Britain or France. The northern part of the country concentrates with capitalistic economy, where the private sector companies account for the total productivity and profitability. Economy in Italy in the southern regions is little less developed compared to the industrial north, owing to the extensive agricultural activities carried out by a section of the country's population. This is an area which is responsible for unemployment of more than 20 percent.
In years, the Economy in Italy has prospered to the extent that it is capable of importing maximum raw materials as well as 75 percent of the energy requisites of the country. It works extensively to encourage employment, support labor flexibility, restructure their costly pension systems, thereby handling well, the economy of Italy on an unofficial level.
Salient features of the Economy in Italy :
- The Gross Domestic Product or GDP of the country reaching 1.273 trillion US dollars has made the Economy in Italy , the sixth richest in the world
- The Economy in Italy , in terms of the per capita income, holds the 18 th place in the world
- The industrial pace in Italy is very fast that accounts for the prosperity and development of the Economy in Italy
- Both the public and the private sectors in Italy derive foreign financial aids from United States that helps in the betterment of the Economy in Italy
- Merging itself with the western economic markets, the Economy in Italy gained considerable profitability
- The firm export-related industries of Italy had boosted up the Economy in Italy to a large extent
- The escalation of exports in Italy established a strong domestic demand for goods and services
- Most of the small and medium enterprises and companies in Italy flourished and prospered as a result of the increased economic activities in Italy
Italian Economy is developing very fast. Today the condition is such that it is self-sufficient enough to cope up with the global race of economic and financial developments.
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