Economy of Italy
Italy is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developed nation, Italy is able to provide its citizens with social services like public education, healthcare, and law enforcement. Citizens of developed nations enjoy a high standard of living and longer life expectancies than citizens of developing nations. Each year, Italy exports around $474 billion and imports roughly $435.8 billion. 11.1% of population in the country are unemployed. The total number of unemployed people in Italy is 6,581,298. In Italy, 28.7% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Italy is fairly high, but is not reason for complete concern with regard to investments. Potential financial backers should look at other economic markers, including GDP, urbanization rate, and strength of currency, before making any decisions regarding investments. Government expenditure on education is 4.3% of GDP. The Gini Index of the country is 31.9. Italy is experiencing good equality. The majority of citizens in Italy fall within a narrow range of income, although some cases may show significant differences. Italy has a Human Development Index (HDI) of 0.872. Italy has a very high HDI score. This indicates that nearly all citizens are able to attain a desirable life because of social and economic support; citizens with a low standard of living receive aid and support and have the opportunity to advance in society. The Global Peace Index (GPI) for Italy is 1.669. Due to strong law enforcement presence and high social responsibility, Italy is very safe by international standards. The strength of legal rights index for Italy is 2. Overall, it is considered to be rather weak - bankrupcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible.
Currency
The currency of Italy is euro. There are several plural forms of the name 'euro'. These are euro, euros. The symbol used for this currency is €, and it is abbreviated as EUR. The euro is divided into Cent; there are 100 in one euro.
Credit rating
The depth of credit information index for Italy is 7, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Italy has a credit rating score of BBB-, and the prospects of this rating are stable. According to the Fitch credit-rating agency, Italy has a credit rating score of BBB+, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Italy has a credit rating score of Baa2, and the prospects of this rating are stable.
Central bank
In Italy, the institution that manages the state's currency, money supply, and interest rates is called Bank of Italy. Locally, the central bank of Italy is called Banca d'Italia. The average deposit interest rate offered by local banks in Italy is 0.95%.
Public debt
The government debt of Italy has not been calculated yet.
Tax information
The corporate tax in Italy is set at 27.9%. Personal income tax ranges from 23% to 43%, depending on your specific situation and income level. VAT in Italy is 22%.
Finances
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Italy is $2135359 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Italy was last recorded at $36 million. PPP in Italy is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Italy is 2,149,485 billion. Based on this statistic, Italy is considered to have a large economy. Countries with large economies support a wide variety of industries and businesses, providing ample opportunities for investment. Large economies support a substantial financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good opportunities for investment in Italy. The Gross Domestic Product (GDP) per capita in Italy was last recorded at $36 million. The average citizen in Italy has low wealth. Countries with low wealth per capita often have slightly lower life expectancies and lower quality of living among citizens. It can be difficult to find highly skilled workers in countries with low wealth, as it is occasionally difficult for citizens to obtain the requisite education needed for specialized industries. Labor can be found for low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Italy averaged -0.2% in 2014. According to this percentage, Italy is currently experiencing modest decline. Countries that are experiencing modest decline may see a small reduction in personal consumption, employment rate, or personal income. A modest decline in GDP can signal a risky location for investments; however, some strong economic nations occasionally experience modest decline and are still safe investment locations. To read more about financial information click on finances of Italy.
Industry
Major industries in the country are tourism, machinery, iron and steel, chemicals, food processing, textiles, motor vehicles, clothing, footwear, ceramics. The total labor force of Italy is 25,477,740 people, wherein 11.1% of population in the country are unemployed. The total number of unemployed people in Italy is 6,581,298. The Industrial Production growth rate of Italy is 0.5%.To read more about industrial information within Italy click on industry of Italy.
Agriculture
There are 77651 km2 of arable land in Italy, and it comprises 26% of the country's total territory. There are 104377 km2 of cultivated land in Italy. The country's major agricultural crops and products are fruits, vegetables, grapes, potatoes, sugar beets, soybeans, grain, olives, beef, dairy products, fish.To read more about agriculture click on agriculture of Italy.