Jump to content

Economy of Italy

From Wikipedia, the free encyclopedia

Economy of Italy
Milan is the economic capital of Italy,[1] and is a global financial centre and a fashion capital of the world.
CurrencyEuro (EUR, €) (Except in Campione d'ItaliaCHF)
Calendar Year
Trade organisations
Country group
Population58,850,717 (31 December 2022)[6]
GDP rank
GDP growth
  • 3.9% (2022)
  • 0.9% (2023)
  • 0.7% (2024)[7]
GDP per capita
  • Increase $39,580 (nominal; 2024)[7]
  • Increase $56,905 (PPP; 2024)[7]
GDP per capita rank
GDP by sector
4.5% (2023)[7]
Population below poverty line
  • Steady 9.4% (2021)[9]
  • 22.8% at risk of poverty or social exclusion (AROPE 2023)[10]
31.5 medium (2023)[11]
Labour force
  • Decrease 44.4 million (2021)[13]
  • Increase 61.0% employment rate (April 2023)[14]
Labour force by occupation
  • Positive decrease 6.9% (April 2024)[14]
  • Positive decrease 20.2% youth unemployment (15 to 24 year-olds; April 2024)[14]
  • Positive decrease 1.9 million unemployed (April 2023)[14]
Average gross salary
€2,821 / $2,966.35 monthly[15] (2022)
€2,009 / $2,112.51 monthly[16][17] (2022)
Main industries
ExportsIncrease $626 billion (2023)[8]
Export goods
Engineering products, textiles and clothing, production machinery, motor vehicles, transport equipment, chemicals; foodstuffs, beverages, and tobacco; minerals, nonferrous metals
Main export partners
ImportsDecrease $591 billion (2021)[8]
Import goods
Engineering products, chemicals, transport equipment, energy products, minerals and nonferrous metals, textiles and clothing; food, beverages, tobacco
Main import partners
FDI stock
  • Increase $552.1 billion (31 December 2017 est.)[8]
  • Increase Abroad: $671.8 billion (31 December 2017 est.)[8]
Increase $59.52 billion (2019 est.)[8]
$3.024 trillion (31 December 2020)[19]
Public finances
  • Positive decrease 137% of GDP (2023)[20]
  • Negative increase €2.410 trillion (2019)[21]
  • €29.3 billion deficit (2019)[21]
  • −1.6% of GDP (2019)[21]
Revenues47.1% of GDP (2019)[21]
Expenses48.7% of GDP (2019)[21]
Economic aid
Increase $211.3 billion (November 2022 est.)[8]
All values, unless otherwise stated, are in US dollars.

The economy of Italy is a highly developed social market economy.[28] It is the third-largest national economy in the European Union, the second-largest manufacturing industry in Europe (7th-largest in the world),[29] the 9th-largest economy in the world by nominal GDP, and the 12th-largest by GDP (PPP). Italy is a founding member of the European Union, the Eurozone, the OECD, the G7 and the G20;[30] it is the eighth-largest exporter in the world, with $611 billion exported in 2021. Its closest trade ties are with the other countries of the European Union, with whom it conducts about 59% of its total trade. The largest trading partners, in order of market share in exports, are Germany (12.5%), France (10.3%), the United States (9%), Spain (5.2%), the United Kingdom (5.2%) and Switzerland (4.6%).[31]

In the post-World War II period, Italy saw a transformation from an agricultural-based economy which had been severely affected by the consequences of the World Wars, into one of the world's most advanced nations,[32] and a leading country in world trade and exports. According to the Human Development Index, the country enjoys a very high standard of living. According to The Economist, Italy has the world's 8th highest quality of life.[33] Italy owns the world's third-largest gold reserve,[34] and is the third-largest net contributor to the budget of the European Union. Furthermore, the advanced country private wealth is one of the largest in the world.[35] In terms of private wealth, Italy ranks second, after Hong Kong, in private wealth to GDP ratio. Among OECD members, Italy has a highly efficient and strong social security system, which comprises roughly 24.4% of GDP.[5][36][4]

Italy is the world's seventh-largest manufacturing country,[37] characterised by a smaller number of global multinational corporations than other economies of comparable size and many dynamic small and medium-sized enterprises, notoriously clustered in several industrial districts, which are the backbone of the Italian industry. Italy is a large manufacturer[38] and exporter[39] of a significant variety of products. Its products include machinery, vehicles, pharmaceuticals, furniture, food and clothing.[40] Italy has a significant trade surplus. The country is also well known for its influential and innovative business economic sector, an industrious and competitive agricultural sector (Italy is the world's largest wine producer),[41] and manufacturers of creatively designed, high-quality products: including automobiles, ships, home appliances, and designer clothing. Italy is the largest hub for luxury goods in Europe and the third luxury hub globally.[42][43] Italy has a strong cooperative sector, with the largest share of the population (4.5%) employed by a cooperative in the EU.[44]

Despite these important achievements, the country's economy today suffers from structural and non-structural problems. Annual growth rates have often been below the EU average. Italy was hit particularly hard by the late-2000s recession. Massive government spending from the 1980s onwards has produced a severe rise in public debt. In addition, Italian living standards have a considerable North–South divide: the average GDP per capita in Northern Italy significantly exceeds the EU average, while some regions and provinces in Southern Italy are significantly below the average. In Central Italy, GDP per capita is instead average.[45][46] In recent years, Italy's GDP per capita growth slowly caught-up with the Eurozone average,[47] while its employment rate still lags behind. However, economists dispute the official figures because of the large number of informal jobs (estimated to be between 10% and 20% of the labour force) that lift the inactivity or unemployment rates.[48] The shadow economy is highly represented in Southern Italy, while it becomes less intense as one moves north. In real economic conditions, Southern Italy almost matches Central Italy's level.[49]


The Ferrari Portofino represents the synergy of "Made in Italy" brands that strengthens the Italian economy.

The Italian Renaissance was remarkable in economic development. Venice and Genoa were the trade pioneers, first as maritime republics and then as regional states, followed by Milan, Florence, and the rest of northern Italy. Reasons for their early development are for example the relative military safety of Venetian lagoons, the high population density and the institutional structure which inspired entrepreneurs.[50] The Republic of Venice was the first real international financial center, which slowly emerged from the 9th century to its peak in the 15th century.[51] Tradeable bonds as a commonly used type of security, were invented by the Italian city-states (such as Venice and Genoa) of the late medieval and early Renaissance periods.

After 1600 Italy experienced an economic catastrophe. In 1600 Northern and Central Italy comprised one of the most advanced industrial areas of Europe. There was an exceptionally high standard of living.[52] By 1870 Italy was an economically backward and depressed area; its industrial structure had almost collapsed, its population was too high for its resources, its economy had become primarily agricultural. Wars, political fractionalization, limited fiscal capacity and the shift of world trade to north-western Europe and the Americas were key factors.[53][54]

The economic history of Italy after 1861 can be divided in three main phases:[55] an initial period of struggle after the unification of the country, characterised by high emigration and stagnant growth; a central period of robust catch-up from the 1890s to the 1980s, interrupted by the Great Depression of the 1930s and the two world wars; and a final period of sluggish growth that has been exacerbated by a double-dip recession following the 2008 global financial crush, and from which the country is slowly reemerging only in recent years.

Age of Industrialization[edit]

Terni steel mills in 1912

Prior to unification, the economy of the many Italian statelets was overwhelmingly agrarian; however, the agricultural surplus produced what historians call a "pre-industrial" transformation in North-western Italy starting from the 1820s,[56] that led to a diffuse, if mostly artisanal, concentration of manufacturing activities, especially in Piedmont-Sardinia under the liberal rule of the Count of Cavour.[57]

After the birth of the unified Kingdom of Italy in 1861, there was a deep consciousness in the ruling class of the new country's backwardness, given that the per capita GDP expressed in PPS terms was roughly half of that of Britain and about 25% less than that of France and Germany.[55] During the 1860s and 1870s, the manufacturing activity was backward and small-scale, while the oversized agrarian sector was the backbone of the national economy. The country lacked large coal and iron deposits[58] and the population was largely illiterate. In the 1880s, a severe farm crisis led to the introduction of more modern farming techniques in the Po valley,[59] while from 1878 to 1887 protectionist policies were introduced with the aim to establish a heavy industry base.[60] Some large steel and iron works soon clustered around areas of high hydropower potential, notably the Alpine foothills and Umbria in central Italy, while Turin and Milan led a textile, chemical, engineering and banking boom and Genoa captured civil and military shipbuilding.[61]

However, the diffusion of industrialisation that characterised the northwestern area of the country largely excluded Venetia and, especially, the South. The resulting Italian diaspora concerned up to 26 million Italians, the most part in the years between 1880 and 1914; by many scholars, it is considered the biggest mass migration of contemporary times.[62] During the Great War, the still frail Italian state successfully fought a modern war, being able of arming and training some 5 million recruits.[63] But this result came at a terrible cost: by the end of the war, Italy had lost 700,000 soldiers and had a ballooning sovereign debt amounting to billions of lira.

Fascist regime[edit]

Benito Mussolini giving a speech at the Fiat Lingotto factory in Turin, 1932

Italy emerged from World War I in a poor and weakened condition. The National Fascist Party of Benito Mussolini came to power in 1922, at the end of a period of social unrest. However, once Mussolini acquired a firmer hold of power, laissez-faire and free trade were progressively abandoned in favour of government intervention and protectionism.[64]

In 1929, Italy was hit hard by the Great Depression.[65] In order to deal with the crisis, the Fascist government nationalized the holdings of large banks which had accrued significant industrial securities, establishing the Istituto per la Ricostruzione Industriale.[66] A number of mixed entities were formed, whose purpose was to bring together representatives of the government and of the major businesses. These representatives discussed economic policy and manipulated prices and wages so as to satisfy both the wishes of the government and the wishes of business.[64]

This economic model based on a partnership between government and business was soon extended to the political sphere, in what came to be known as corporatism. At the same time, the aggressive foreign policy of Mussolini led to increasing military expenditure. After the invasion of Ethiopia, Italy intervened to support Franco's nationalists in the Spanish Civil War. By 1939, Italy had the highest percentage of state-owned enterprises after the Soviet Union.[64]

Italy's involvement in World War II as a member of the Axis powers required the establishment of a war economy. The Allied invasion of Italy in 1943 eventually caused the Italian political structure – and the economy – to rapidly collapse. The Allies, on the one hand, and the Germans on the other, took over the administration of the areas of Italy under their control. By the end of the war, Italian per capita income was at its lowest point since the beginning of the 20th century.[67]

Post-war economic miracle[edit]

The Fiat 500, launched in 1957, is considered a symbol of Italy's postwar economic miracle.[68]
Programma 101, developed in 1965 by Olivetti is considered one of the first programmable calculators ever and was an economic success internationally.[69][70]

After the end of World War II, Italy was in rubble and occupied by foreign armies, a condition that worsened the chronic development gap among the more advanced European economies. However, the new geopolitical logic of the Cold War made possible that the former enemy Italy, a hinge country between Western Europe and the Mediterranean, and now a new, fragile democracy threatened by the NATO occupation forces, the proximity of the Iron Curtain and the presence of a strong Communist party,[71] was considered by the United States as an important ally for the Free World, and received under the Marshall Plan over US$1.2 billion from 1947 to 1951.

The end of aid through the Plan could have stopped the recovery but it coincided with a crucial point in the Korean War whose demand for metal and manufactured products was a further stimulus of Italian industrial production. In addition, the creation in 1957 of the European Common Market, with Italy as a founding member, provided more investment and eased exports.[72]

These favourable developments, combined with the presence of a large labour force, laid the foundation for spectacular economic growth that lasted almost uninterrupted until the "Hot Autumn's" massive strikes and social unrest of 1969–70, which then combined with the later 1973 oil crisis and put an abrupt end to the prolonged boom. It has been calculated that the Italian economy experienced an average rate of growth of GDP of 5.8% per year between 1951 and 1963, and 5% per year between 1964 and 1973.[72] Italian rates of growth were second only, but very close, to the West German rates, in Europe, and among the OEEC countries only Japan had been doing better.[73]

The 1970s and 1980s: from stagflation to "il sorpasso"[edit]

Prime Minister Giulio Andreotti (far left) with G7 leaders in Bonn, 1978

The 1970s were a period of economic, political turmoil and social unrest in Italy, known as Years of lead. Unemployment rose sharply, especially among the young, and by 1977 there were one million unemployed people under the age of 24. Inflation continued, aggravated by the increases in the price of oil in 1973 and 1979. The budget deficit became permanent and intractable, averaging about 10 per cent of the gross domestic product (GDP), higher than any other industrial country. The lira fell steadily, from Lire 560 to the U.S. dollar in 1973 to Lire 1,400 in 1982.[74]

The economic recession went on into the mid-1980s until a set of reforms led to the independence of the Bank of Italy[75] and a big reduction of the indexation of wages[76] that strongly reduced inflation rates, from 20.6% in 1980 to 4.7% in 1987.[77] The new macroeconomic and political stability resulted in a second, export-led "economic miracle", based on small and medium-sized enterprises, producing clothing, leather products, shoes, furniture, textiles, jewellery, and machine tools. As a result of this rapid expansion, in 1987 Italy overtook the UK's economy (an event known as il sorpasso), becoming the fourth richest nation in the world, after the US, Japan and West Germany.[78] The Milan stock exchange increased its market capitalization more than fivefold in the space of a few years.[79]

However, the Italian economy of the 1980s presented a problem: it was booming, thanks to increased productivity and surging exports, but unsustainable fiscal deficits drove the growth.[78] In the 1990s, the new Maastricht criteria boosted the urge to curb the public debt, already at 104% of GDP in 1992.[80] The consequent restrictive economic policies worsened the impact of the global recession already underway. After a brief recovery at the end of the 1990s, high tax rates and red tape caused the country to stagnate between 2000 and 2008.[81][82]

Great Recession[edit]

Italy real quarterly GDP
GDP per capita of Italy, France, Germany and Britain from 1970 to 2008
Italy bonds
European debt crisis in 2011
negative interest rates 2015-2022
  50 year
  20 year
  10 year
  2 year
  1 year
  3 month

Italy was among the wealthy countries that were hardest hit by the Great Recession of 2008–2009 and the subsequent European debt crisis. The national economy shrunk by 6.76% during the whole period, totaling seven-quarters of recession.[83] In November 2011 the Italian bond yield was 6.74 per cent for 10-year bonds, nearing a 7 per cent level where Italy is thought to lose access to financial markets.[84] According to Eurostat, in 2015 the Italian government debt stood at 128% of GDP, ranking as the second biggest debt ratio after Greece (with 175%).[85] However, the biggest chunk of Italian public debt is owned by Italian nationals and relatively high levels of private savings and low levels of private indebtedness are seen as making it the safest among Europe's struggling economies.[86][87] As a shock therapy to avoid the debt crisis and kick-start growth, the national unity government led by the economist Mario Monti launched a program of massive austerity measures, that brought down the deficit but precipitated the country in a double-dip recession in 2012 and 2013, receiving criticism from numerous economists.[88][89]

Economic recovery[edit]

In the period 2014-2019, the economy partially recovered from the disastrous losses incurred during the Great Recession, primarily thanks to strong exports, but nonetheless, growth rates remained well below the Euro area average, meaning that Italy's GDP in 2019 was still 5 per cent below its level in 2008.[90]

Economy resilient[edit]

Ferrari Daytona SP3

Starting from February 2020 after the United States had the first originated from China, Italy was the first country in Europe to be severely affected by the COVID-19 pandemic,[91] that eventually expanded to the rest of the world. The economy suffered a massive shock as a result of the lockdown of most of the country's economic activity. After three months, at the end of May 2020, the pandemic was put under control, and the economy started to recover, especially, the manufacturing sector. Overall, it remained surprisingly resilient, although GDP plummeted like in most western countries.[92][93] The Italian government issued special treasury bills, known as BTP Futura[94] as a COVID-19 emergency funding, waiting for the approval of the E.U. response to the outbreak.[95] Eventually, in July 2020, the European Council approved the 750 billion € Next Generation EU fund,[96] of which €209 billion will go to Italy.[97]


100 lire coin, 1956, with goddess Minerva holding an olive tree and a long spear depicted on the reverse

Italy has a long history of different coinage types, which spans thousands of years. Italy has been influential at a coinage point of view: the medieval Florentine florin, one of the most used coinage types in European history and one of the most important coins in Western history,[98] was struck in Florence in the 13th century, while the Venetian sequin, minted from 1284 to 1797, was the most prestigious gold coin in circulation in the commercial centers of the Mediterranean Sea.[99]

Despite the fact that the first Italian coinage systems were used in the Magna Graecia and Etruscan civilization, the Romans introduced a widespread currency throughout Italy. Unlike most modern coins, Roman coins had intrinsic value.[100] The early modern Italian coins were very similar in style to French francs, especially in decimals, since it was ruled by the country in the Napoleonic Kingdom of Italy. They corresponded to a value of 0.29 grams of gold or 4.5 grams of silver.[101]

Since Italy has been for centuries divided into many historic states, they all had different coinage systems, but when the country became unified in 1861, the Italian lira came into place, and was used until 2002.[102] The term originates from libra, the largest unit of the Carolingian monetary system used in Western Europe and elsewhere from the 8th to the 20th century.[103] In 1999, the euro became Italy's unit of account and the lira became a national subunit of the euro at a rate of 1 euro = 1,936.27 lire, before being replaced as cash in 2002.



The following table shows the main economic indicators in 1980–2021 (with IMF staff estimates in 2022–2027). Inflation below 5% is in green.[104]

Year GDP

(in Bil. US$PPP)

GDP per capita

(in US$ PPP)


(in Bil. US$nominal)

GDP per capita

(in US$ nominal)

GDP growth


Inflation rate

(in Percent)


(in Percent)

Government debt

(in % of GDP)

1980 614.4 10,895.8 482.7 8,559.5 Increase3.1% Negative increase21.8% 7.4% n/a
1981 Increase676.3 Increase11,973.7 Decrease437.7 Decrease7,749.8 Increase0.6% Negative increase19.5% Negative increase7.6% n/a
1982 Increase719.2 Increase12,723.3 Decrease432.6 Decrease7,652.9 Increase0.2% Negative increase16.5% Negative increase8.3% n/a
1983 Increase754.2 Increase13,334.6 Increase448.9 Increase7,936.2 Increase0.9% Negative increase14.7% Positive decrease7.4% n/a
1984 Increase805.0 Increase14,231.6 Decrease443.5 Decrease7,840.8 Increase3.0% Negative increase10.7% Negative increase7.8% n/a
1985 Increase852.2 Increase15,060.2 Increase458.0 Increase8,093.6 Increase2.6% Negative increase9.0% Negative increase8.2% n/a
1986 Increase893.0 Increase15,777.1 Increase648.7 Increase11,461.2 Increase2.7% Negative increase5.8% Negative increase8.9% n/a
1987 Increase943.1 Increase16,664.2 Increase814.2 Increase14,385.8 Increase3.1% Increase4.7% Negative increase9.6% n/a
1988 Increase1,015.7 Increase17,942.2 Increase902.0 Increase15,934.2 Increase4.0% Negative increase5.1% Negative increase9.7% 95.2%
1989 Increase1,089.9 Increase19,238.7 Increase938.1 Increase16,560.6 Increase3.3% Negative increase6.2% Steady9.7% Negative increase97.9%
1990 Increase1,153.1 Increase20,338.1 Increase1,170.8 Increase20,651.8 Increase2.0% Negative increase6.4% Positive decrease8.9% Negative increase101.1%
1991 Increase1,209.2 Increase21,309.8 Increase1,236.8 Increase21,795.7 Increase1.4% Negative increase6.2% Positive decrease8.5% Negative increase104.7%
1992 Increase1,245.7 Increase21,941.9 Increase1,312.4 Increase23,116.6 Increase0.7% Negative increase5.0% Negative increase8.8% Negative increase112.3%
1993 Increase1,264.6 Increase22,255.4 Decrease1,055.3 Decrease18,572.9 Decrease-0.8% Increase4.5% Negative increase9.8% Negative increase123.4%
1994 Increase1,318.4 Increase23,193.6 Increase1,088.5 Increase19,149.5 Increase2.1% Increase4.2% Negative increase10.6% Negative increase130.1%
1995 Increase1,382.1 Increase24,314.4 Increase1,175.3 Increase20,675.3 Increase2.7% Negative increase5.4% Negative increase11.2% Positive decrease119.4%
1996 Increase1,425.3 Increase25,073.3 Increase1,312.8 Increase23,094.4 Increase1.3% Increase4.0% Steady11.2% Positive decrease119.1%
1997 Increase1,476.4 Increase25,957.8 Decrease1,243.2 Decrease21,858.5 Increase1.8% Increase1.8% Steady11.2% Positive decrease116.8%
1998 Increase1,520.0 Increase26,712.1 Increase1,271.7 Increase22,348.1 Increase1.8% Increase2.0% Negative increase11.3% Positive decrease114.1%
1999 Increase1,566.5 Increase27,526.6 Decrease1,253.7 Decrease22,029.7 Increase1.6% Increase1.7% Positive decrease10.9% Positive decrease113.3%
2000 Increase1,662.7 Increase29,208.9 Decrease1,147.2 Decrease20,153.1 Increase3.8% Increase2.6% Positive decrease10.1% Positive decrease109.0%
2001 Increase1,733.3 Increase30,429.9 Increase1,168.0 Increase20,505.9 Increase2.0% Increase2.3% Positive decrease9.1% Positive decrease108.9%
2002 Increase1,764.8 Increase30,964.9 Increase1,275.9 Increase22,386.3 Increase0.3% Increase2.6% Positive decrease8.6% Positive decrease106.4%
2003 Increase1,802.1 Increase31,513.1 Increase1,577.2 Increase27,580.5 Increase0.1% Increase2.8% Positive decrease8.5% Positive decrease105.5%
2004 Increase1,876.8 Increase32,577.2 Increase1,805.7 Increase31,342.8 Increase1.4% Increase2.3% Positive decrease8.0% Positive decrease105.1%
2005 Increase1,951.5 Increase33,621.3 Increase1,859.2 Increase32,031.4 Increase0.8% Increase2.2% Positive decrease7.8% Negative increase106.6%
2006 Increase2,047.8 Increase35,131.2 Increase1,949.7 Increase33,448.1 Increase1.8% Increase2.2% Positive decrease6.9% Negative increase106.7%
2007 Increase2,134.4 Increase36,478.4 Increase2,213.4 Increase37,828.3 Increase1.5% Increase2.0% Positive decrease6.2% Positive decrease103.9%
2008 Increase2,154.4 Increase36,513.9 Increase2,408.4 Increase40,819.0 Decrease-1.0% Increase3.5% Negative increase6.8% Negative increase106.2%
2009 Decrease2,053.7 Decrease34,561.9 Decrease2,197.5 Decrease36,982.8 Decrease-5.3% Increase0.8% Negative increase7.9% Negative increase116.6%
2010 Increase2,114.0 Increase35,415.9 Decrease2,137.8 Decrease35,815.6 Increase1.7% Increase1.6% Negative increase8.5% Negative increase119.2%
2011 Increase2,173.2 Increase36,250.6 Increase2,294.6 Increase38,276.0 Increase0.7% Increase2.9% Negative increase8.6% Negative increase119.7%
2012 Decrease2,172.4 Decrease36,143.0 Decrease2,088.3 Decrease34,743.8 Decrease-3.0% Increase3.3% Negative increase10.9% Negative increase126.5%
2013 Increase2,187.4 Increase36,288.5 Increase2,142.0 Increase35,535.0 Decrease-1.8% Increase1.2% Negative increase12.4% Negative increase132.5%
2014 Increase2,200.3 Increase36,460.7 Increase2,162.6 Increase35,836.2 Decrease0.0% Increase0.2% Negative increase12.8% Negative increase135.4%
2015 Increase2,241.5 Increase37,175.6 Decrease1,836.8 Decrease30,463.7 Increase0.8% Increase0.1% Positive decrease12.0% Positive decrease135.3%
2016 Increase2,420.4 Increase40,230.7 Increase1,876.6 Increase31,190.8 Increase1.3% Increase-0.1% Positive decrease11.7% Positive decrease134.8%
2017 Increase2,529.5 Increase42,111.5 Increase1,961.1 Increase32,648.8 Increase1.7% Increase1.3% Positive decrease11.3% Positive decrease134.2%
2018 Increase2,613.9 Increase43,610.3 Increase2,092.9 Increase34,917.6 Increase0.9% Increase1.2% Positive decrease10.6% Negative increase134.4%
2019 Increase2,674.0 Increase44,702.9 Decrease2,011.5 Decrease33,627.9 Increase0.5% Increase0.6% Positive decrease9.9% Positive decrease134.1%
2020 Decrease2,461.9 Decrease41,279.1 Decrease1,891.1 Decrease31,707.1 Decrease-9.0% Increase-0.1% Positive decrease9.3% Negative increase155.3%
2021 Increase2,734.6 Increase46,164.6 Increase2,101.3 Increase35,472.8 Increase8.3% Increase1.9% Negative increase9.5% Positive decrease150.9%
2022 Increase3,022.2 Increase51,061.8 Decrease1,996.9 Decrease33,739.8 Increase3.9% Negative increase8.7% Positive decrease8.8% Positive decrease147.2%
2023 Increase3,124.4 Increase52,825.3 Decrease1,991.0 Decrease33,662.3 Increase0.9% Negative increase5.2% Negative increase9.4% Positive decrease147.1%
2024 Increase3,232.6 Increase54,681.4 Increase2,059.4 Increase34,835.9 Increase1.3% Increase1.7% Positive decrease9.3% Positive decrease146.1%
2025 Increase3,328.6 Increase56,320.8 Increase2,133.1 Increase36,092.6 Increase1.1% Increase2.1% Positive decrease9.2% Positive decrease144.9%
2026 Increase3,428.0 Increase58,024.2 Increase2,213.7 Increase37,470.1 Increase1.1% Increase2.0% Positive decrease9.1% Positive decrease143.5%
2027 Increase3,520.3 Increase59,611.0 Increase2,289.8 Increase38,774.6 Increase0.7% Increase2.0% Positive decrease9.0% Positive decrease142.5%
Development of real GDP per capita, 1900 to 2018


Italian Companies on 2019 Fortune Global 500 List[edit]

This list displays all 6 Italian companies on the Fortune Global 500 List, which ranks the world's largest companies by annual revenue. The figures below are given in millions of US dollars and are for the fiscal year 2018.[28] Also listed are the headquarters location, net profit and industry sector of each company.

Rank Fortune 500


Name Industry Revenue

(USD millions)


(USD millions)

Employees Headquarters
1 83 Eni Oil and gas 90,800 4,869 31,701 Rome
2 89 Enel Electric utility 89,306 5,651 69,272 Rome
3 92 Assicurazioni Generali Insurance 88,157 2,725 70,734 Trieste
4 315 Intesa Sanpaolo Finance 39,051 4,800 92,117 Turin
5 355 Poste italiane Logistics 35,071 1,651 132,388 Rome
6 425 UniCredit Banking 29,332 4,594 86,786 Milan

In 2022, the sector with the highest number of companies registered in Italy is Services with 654,065 companies followed by Retail Trade and Finance, Insurance, and Real Estate with 519,448 and 348,881 companies respectively.[105]


Stefano Pessina

Italy has over 1.4 million people with a net wealth greater than $1 million, a total national wealth of $11.857 trillion, and represents the 5th largest cumulative net wealth globally (it accounts for 4.92% of the net wealth in the world).[106] According to the Credit Suisse's Global Wealth Databook 2013, the median wealth per adult is $138,653 (5th in the world),[106] while according to the Allianz's Global Wealth Report 2013, the net financial wealth per capita is €45,770 (13th in the world).[107]

The following top 10 list of Italian billionaires is based on an annual assessment of wealth and assets compiled and published by Forbes in 2017.[108]

Rank (World) Rank (Italy) Name Net Worth ($bn) Main source Main sector
29 1 Maria Franca Fissolo Ferrero & family 25.2 Ferrero SpA Food
50 2 Leonardo Del Vecchio 17.9 Luxottica Eyewear
80 3 Stefano Pessina 13.9 Walgreens Boots Pharmaceutical retail
133 4 Massimiliana Landini Aleotti 9.5 Menarini Pharmaceutical
199 5 Silvio Berlusconi 7.0 Fininvest Financial services
215 6 Giorgio Armani 6.6 Armani Fashion
250 7 Augusto & Giorgio Perfetti 5.8 Perfetti Van Melle Confectionery
385 8 Paolo & Gianfelice Rocca 3.4 Techint Conglomerate
474 9 Giuseppe De'Longhi 3.8 De'Longhi Small appliance
603 10 Patrizio Bertelli 3.3 Prada Apparels

Regional data[edit]

Map of Italian regions by GDP per capita in 2018
2022 Gross Domestic Product in Italy[109][110]
Rank Region GDP €m 2015 GDP €m % of Nation € per capita (2022)
 Italy Increase1,946,479 1,645,439 100.00 34,084
1  Lombardy Increase439,986.38 357,200 21.71 46,000
2  Lazio Increase212,911.42 192,642 11.09 38,800
3  Veneto Increase180,173.48 151,634 9.21 38,700
4  Emilia-Romagna Increase176,844.9 149,525 9.08 41,600
5  Piedmont Increase145,913.79 127,365 7.74 35,700
6  Tuscany Increase128,308.37 110,332 6.70 36,500
7  Campania Increase119,467.68 100,544 6.11 22,200
8  Sicily Increase97,124.1 87,383 5.31 21,000
9  Apulia Increase85,960.7 72,135 4.38 22,900
10  Liguria Increase53,854.51 47,663 2.90 37,200
11  Marche Increase45,859.37 40,593 2.47 32,200
12  Friuli-Venezia Giulia Increase43,048.67 35,669 2.17 37,600
13  Sardinia Increase37,978.08 32,481 1.97 25,000
14  Calabria Increase36,081.42 32,795 1.99 20,300
15  Abruzzo Increase34,572.45 32,592 1.98 28,300
16  South Tyrol Increase29,106.27 - 56,900
17  Umbria Increase24,264.04 21,438 1.30 29,500
18  Trentino Increase24,002.76 - 46,100
19  Basilicata Increase15,252.69 11,449 0.69 29,500
20  Molise Increase7,219.42 6,042 0.36 25,800
21  Aosta Valley Increase5,404.03 4,374 0.27 45,700

Southern question[edit]

Normalized index of industrialization of the Italian provinces in 1871 (the national average is 1.0). Source: Bank of Italy.
  Over 1.4
  From 1.1 to 1.4
  From 0.9 to 1.1
  Up to 0.9
Map of the Italian diaspora in the world

In the decades following the unification of Italy, the northern regions of the country, Lombardy, Piedmont and Liguria in particular, began a process of industrialization and economic development while the southern regions remained behind.[111] At the time of the unification of the country, there was a shortage of entrepreneurs in the south, with landowners who were often absent from their farms as they lived permanently in the city, leaving the management of their funds to managers, who were not encouraged by the owners to make the agricultural estates to the maximum.[112] Landowners invested not in agricultural equipment, but in such things as low-risk state bonds.[113]

In southern Italy, the unification of the country broke down the feudal land system, which had survived in the south since the Middle Ages, especially where land had been the inalienable property of aristocrats, religious bodies or the king. The breakdown of feudalism, however, and redistribution of land did not necessarily lead to small farmers in the south winding up with land of their own or land they could work and make profit from. Many remained landless, and plots grew smaller and smaller and so less and less productive, as land was subdivided amongst heirs.[113]

This gap between northern and southern Italy, called "southern question", was also induced by the region-specific policies selected by the post-unitary governments.[114] For example, the 1887 protectionist reform, instead of safeguarding the arboriculture sectors crushed by 1880s fall in prices, shielded the Po Valley wheat breeding and those Northern textile and manufacturing industries that had survived the liberal years due to state intervention.[115] A similar logic guided the assignment of monopoly rights in the steamboat construction and navigation sectors and, above all, the public spending in the railway sector, which represented 53% of the 1861–1911 total.[116]

The resources necessary to finance the public spending effort were obtained through highly unbalanced land property taxes, which affected the key source of savings available for investment in the growth sectors absent a developed banking system.[117] Given the inability of the government to estimate the land profitability, especially because of the huge differences among the regional cadast:ers, this policy irreparably induced large regional discrepancies.[118] This policy destroyed the relationship between the central state and the Southern population by unchaining first a civil war called Brigandage, which brought about 20,000 victims by 1864 and the militarization of the area, and then favouring emigration, especially from 1892 to 1921.[119]

The north–south gap was intensified by language differences. Southerners spoke the Sicilian language or a variation of it: a language that developed from Latin and other influences independently of and prior to the Tuscan dialect that was adopted as the official Italian language ("standard Italian"). The Sicilian language is a complete, distinct language with its own vocabulary, syntax and grammar rules, the latter being less complex than standard Italian. But because of its similarity to Italian, northerners incorrectly assumed that it was an imperfect dialect of Italian and denigrated it as the "dialect of the poor and ignorant". This has led to continued bias by the North against southerners who "don't speak proper Italian".

After the rise of Benito Mussolini, the "Iron Prefect" Cesare Mori tried to defeat the already powerful criminal organizations flourishing in the South with some degree of success. Fascist policy aimed at the creation of an Italian Empire and Southern Italian ports were strategic for all commerce towards the colonies. With the invasion of Southern Italy during World War II, the Allies restored the authority of the mafia families, lost during the Fascist period, and used their influence to maintain public order.[120] Mussolini also established laws requiring standard Italian to be taught in school, and discouraging the use of local Italian dialects throughout the nation, as well as the Sicilian language.

In the 1950s the Cassa per il Mezzogiorno was set up as a huge public master plan to help industrialize the South, aiming to do this in two ways: through land reforms creating 120,000 new smallholdings, and through the "Growth Pole Strategy" whereby 60% of all government investment would go to the South, thus boosting the Southern economy by attracting new capital, stimulating local firms, and providing employment. However, the objectives were largely missed, and as a result, the South became increasingly subsidized and state-dependent, incapable of generating private growth itself.[121]

The imbalance between North and South was reduced in the 1960s and 1970s through the construction of public works, the implementation of agrarian and scholastic reforms,[122] the expansion of industrialization and the improved living conditions of the population. This convergence process was interrupted, however, in the 1980s. To date, the per capita GDP of the South is just 58% of that of the Center-North,[123] but this gap is mitigated by the fact that there the cost of living is around 10-15% lower on average (with even more differences between small towns and big cities) than that in the North of Italy.[124] In the South the unemployment rate is more than double (6.7% in the North against 14.9% in the South).[125] A study by Censis blames the pervasive presence of criminal organizations for the delay of Southern Italy, estimating an annual loss of wealth of 2.5% in the South in the period between 1981–2003 due to their presence, and that without them the per capita GDP of the South would have reached that of the North.[126]

Economic sectors[edit]


Vineyards in Langhe and Montferrat, Piedmont. Italy is the world's largest wine producer (22% of the global market), as well as the country with the widest variety of indigenous grapevine in the world.[41][127][128]

According to the last national agricultural census, there were 1.6 million farms in 2010 (−32.4% since 2000) covering 12,700,000 ha or 31,382,383 acres (63% of which are located in Southern Italy).[129] The vast majority (99%) are family-operated and small, averaging only 8 ha (20 acres) in size.[129] Of the total surface area in agricultural use (forestry excluded), grain fields take up 31%, olive tree orchards 8.2%, vineyards 5.4%, citrus orchards 3.8%, sugar beets 1.7%, and horticulture 2.4%. The remainder is primarily dedicated to pastures (25.9%) and feed grains (11.6%).[129] The northern part of Italy produces primarily maize corn, rice, sugar beets, soybeans, meat, fruits and dairy products, while the South specializes in wheat, olive and citrus fruits. Livestock includes 6 million head of cattle, 8.6 million head of swine, 6.8 million head of sheep, and 0.9 million head of goats.[129] The total annual production of the fishing industry in Italy from capture and aquaculture, including crustaceans and molluscs, is around 480,000 tons.

Italy is the largest producer of wine in the world, and one of the leading producers of olive oil, fruits (apples, olives, grapes, oranges, lemons, pears, apricots, hazelnuts, peaches, cherries, plums, strawberries, and kiwifruits), and vegetables (especially artichokes and tomatoes). The most famous Italian wines are the Tuscan Chianti and the Piedmontese Barolo. Other famous wines are Barbaresco, Barbera d'Asti, Brunello di Montalcino, Frascati, Montepulciano d'Abruzzo, Morellino di Scansano, Amarone della Valpolicella DOCG and the sparkling wines Franciacorta and Prosecco. Quality goods in which Italy specialises, particularly the already mentioned wines and regional cheeses, are often protected under the quality assurance labels DOC/DOP. This geographical indication certificate, which is attributed by the European Union, is considered important to avoid confusion with low-quality mass-produced ersatz products.

In fact, Italian cuisine is one of the most popular and copied around the world.[130] The lack or total unavailability of some of its most characteristic ingredients outside of Italy, also and above all to falsifications (or food fraud), leads to the complete denaturalization of Italian ingredients.[131] This phenomenon, widespread in all continents, is better known as Italian Sounding, consisting in the use of words as well as images, colour combinations (the Italian tricolour), geographical references, brands evocative of Italy to promote and market agri-food products which in reality have nothing to do with Italian cuisine.[132]


Eni is considered one of the world's oil and gas "Supermajors"[133]
The ETR 450 was the first production Pendolino train, in service from 1988 to 2015
Arduino Uno, a MCU board made in Italy has gained popularity worldwide[134]

Italy is the world's sixth-largest manufacturing country.[37] Italy has a smaller number of global multinational corporations than other economies of comparable size, but it has a large number of small and medium-sized enterprises, many of them grouped in clusters, which are the backbone of the Italian industry.[135] This results in a manufacturing sector often focused on the export of niche market and luxury products, that is less capable of competing on quantity but is more capable of facing the competition of emerging economies based on lower labour costs, given the higher quality of its products.[136]

The industrial districts are regionalized: in the Northwest, there is a large modern group of industries, as in the so-called "industrial triangle" (Milan-Turin-Genoa), where there is an area of intense machinery, automotive, aerospace production and shipbuilding; in the Northeast, an area that experienced social and economic development mostly around family-based firms, there are mostly small and medium enterprises of lower technology but high craftsmanship, specializing in machinery, clothing, leather products, footwear, furniture, textiles, machine tools, spare parts, home appliances, and jewellery. In central Italy, there are mostly small and medium-sized companies specializing in products such as textiles, leather, jewellery but also machinery.[135][137] According to a study carried out in 2015 by the Edison Foundation and Confindustria on the most industrialized provinces in Europe, of the five most industrialized provinces in Europe, three are Italian provinces. Brescia turns out to be the first European province for value added by industry, with an added value over 10 billion euros.[138]

The automotive industry in Italy is a significant part of the manufacturing sector, with over 144,000 firms and almost 485,000 employed people in 2015,[139] and a contribution of 8.5% to Italian GDP.[140] Italy's automotive industry is best known for its automobile designs and small city cars, sports and supercars. Italy is one of the significant automobile producers both in Europe and around the world. Today the Italian automotive industry is almost totally dominated by Fiat Group (now included in Stellantis corporation). As well as its own, predominantly mass market model range, Stellantis owns the mainstream Fiat brand, the upmarket Alfa Romeo and Lancia brands, and the exotic Maserati brand. Luxury cars such as Ferrari, Lamborghini, Maserati and Ducati motorcycles are also made in the Northeast region of Emilia-Romagna. Italian cars have won the annual European Car of the Year award several times (with Fiat winning more than any other manufacturer), and have also been awarded the World Car of the Year award.


Palazzo Mezzanotte in Milan, the seat of the Italian Bourse
The Amalfi Coast, one of Italy's major tourist destinations[141]

In Italy, services represent the most important sector of the economy, both in terms of number of employees (67% of the total) and value-added (71%).[142] Furthermore, the sector is by far the most dynamic: over 51% of the more than 5,000,000 companies operating in Italy today belong to the services sector, and in this sector over 67% of new businesses are born.[143] Very important activities in Italy are tourism, trade, services to people and businesses (advanced tertiary).

In 2006 the main sectoral data are: for trade, there are 1,600,000 enterprises, equal to 26% of the Italian entrepreneurial fabric, and over 3,500,000 work units. Transport, communications, tourism and consumption outside the home, over 582,000 businesses, equal to 9.5% of the entrepreneurial fabric, almost 3,500,000 work units. Business services: 630,000 registered companies, equal to 10.3% of the entrepreneurial fabric, over 2,800,000 work units.[143] In 2004 the transport sector in Italy generated a turnover of about 119.4 billion euros, employing 935,700 persons in 153,700 enterprises.

Italian Bourse, based in Milan, is the Italian stock exchange. It manages and organises the domestic market, regulating procedures for admission and listing of companies and intermediaries and supervising disclosures for listed companies.[144] Following exchange privatisation in 1997, the Italian Bourse was established and became effective on 2 January 1998.[145] On 23 June 2007, the Italian Bourse became a subsidiary of the London Stock Exchange Group.[146] As of April 2018, overall capitalisation for listed companies on Borsa Italiana was worth €644.3 billion, representing 37.8% of Italian GDP.[147]

Italy is the fourth most visited country, with a total of 57 million arrivals in 2023.[148] The total contribution of the tourism in Italy to GDP (including wider effects from investment, the supply chain and induced income impacts) was EUR162.7bn in 2014 (10.1% of GDP) and generated 1,082,000 jobs directly in 2014 (4.8% of total employment).[149] Factors of tourist interest in Italy are mainly culture, cuisine, history, fashion, architecture, art, religious sites and routes, wedding tourism, naturalistic beauties, nightlife, underwater sites and spas.[150][151][152][153][154][155][156] Winter and summer tourism are present in many locations in the Alps and the Apennines,[157] while seaside tourism is widespread in coastal locations on the Mediterranean Sea.[158] Italy is the leading cruise tourism destination in the Mediterranean Sea.[159] Small, historical and artistic Italian villages are promoted through the association I Borghi più belli d'Italia (literally "The Most Beautiful Villages of Italy").

The origins of modern banking can be traced to medieval and early Renaissance Italy, to the rich cities like Florence, Lucca, Siena, Venice and Genoa. The Bardi and Peruzzi families dominated banking in 14th-century Florence, establishing branches in many other parts of Europe.[160] One of the most famous Italian banks was the Medici Bank, set up by Giovanni di Bicci de' Medici in 1397.[161] The earliest known state deposit bank, the Bank of Saint George, was founded in 1407 in Genoa,[162] while Banca Monte dei Paschi di Siena, founded in 1472, is the world's oldest or second oldest bank in continuous operation, depending on the definition, and the third-largest Italian commercial and retail bank.[163] Today, among the financial services companies, UniCredit is one of the largest banks in Europe by capitalization and Assicurazioni Generali is second largest insurance group in the world by revenue after AXA.

Banca Monte dei Paschi di Siena, founded in 1472, is the world's oldest or second oldest bank in continuous operation.
The headquarters of UniCredit bank in Milan

The following is a list of the main Italian banks and insurance groups ranked by total assets and gross premiums written.

As of 31 December 2013
Rank Company Headquarter Assets (€ mil.)
1 UniCredit Milan 982,151
2 Intesa Sanpaolo Turin 676,798
3 Banca Monte dei Paschi di Siena Siena 197,943
4 Banco Popolare Verona 123,743
5 UBI Banca Bergamo 121,323
6 Banca Nazionale del Lavoro Rome 84,892
7 Mediobanca Milan 72,428
8 Banca Popolare dell'Emilia Romagna Modena 61,266
9 Banca Popolare di Milano Milan 49,257
10 Cariparma Parma 48,235
Insurance groups[164]
Rank Company Headquarter Premiums (€ mil.)
1 Assicurazioni Generali Trieste 70,323
2 Poste Vita Rome 18,238
3 Unipol Bologna 15,564
4 Intesa Sanpaolo Turin 12,464
5 Cattolica Assicurazioni Verona 5,208
6 Reale Mutua Assicurazioni Turin 3,847
7 Vittoria Assicurazioni Milan 1,281


Energy and natural resources[edit]

Solar panels in Piombino. Italy is one of the world's largest producers of renewable energy.[165]

Italy consumed about 185 Mtoe of primary energy in 2010.[166] This came mostly from fossil fuels. Among the most used resources are petroleum (mostly used for the transport sector), natural gas (used for electric energy production and heating), coal and renewables. Electricity is produced mainly from natural gas, which accounts for the source of more than half of the total final electric energy produced. Another important source is hydroelectric power, which was practically the only source of electricity until 1960.

Eni, with operations in 79 countries, is considered one of the seven "Supermajor" oil companies in the world, and one of the world's largest industrial companies.[167] The Val d'Agri area, Basilicata, hosts the largest onshore hydrocarbon field in Europe.[168] Moderate natural gas reserves, mainly in the Po Valley and offshore Adriatic Sea, have been discovered in recent years and constitute the country's most important mineral resource.

Natural resources of Italy. Metals are in blue (Al – aluminium ore, Mn — manganese, Fe – iron ore, Hg — mercury, PM – polymetallic ores (Cu, Zn, Ag, Pb), PY — pyrite). Fossil fuels are in red (C – coal, G – natural gas, L — lignite, P – petroleum). Non-metallic minerals are in green (ASB — asbestos, F — fluorite, K — potash, MAR — marble, S — sulfur).

Most raw materials needed for manufacturing and more than 80% of the country's energy sources are imported (99.7% of the solid fuels demand, 92.5% of oil, 91.2% of natural gas and 13% of electricity).[169][170] Due to its reliance on imports, Italians pay approximately 45% more than the EU average for electricity.[171]

In the last decade, Italy has become one of the world's largest producers of renewable energy, ranking as the second largest producer in the European Union and the ninth in the world. Wind power, hydroelectricity, and geothermal power are also important sources of electricity in the country. Italy was the first country to exploit geothermal energy to produce electricity.[172] The first Italian geothermal power plant was built in Tuscany, which is where all currently active geothermal plants in Italy are located. In 2014 the geothermal production was 5.92 TWh.[173]

Solar energy production alone accounted for almost 9% of the total electric production in the country in 2014, making Italy the country with the highest contribution from solar energy in the world.[165] The Montalto di Castro Photovoltaic Power Station, completed in 2010, is the largest photovoltaic power station in Italy with 85 MW. Other examples of large PV plants in Italy are San Bellino (70.6 MW), Cellino san Marco (42.7 MW) and Sant’ Alberto (34.6 MW).[174] Italy was also the first country to exploit geothermal energy to produce electricity.[172]

Renewable sources account for 27.5% of all electricity produced in Italy, with hydro alone reaching 12.6%, followed by solar at 5.7%, wind at 4.1%, bioenergy at 3.5%, and geothermal at 1.6%.[175] The rest of the national demand is covered by fossil fuels (38.2% natural gas, 13% coal, 8.4% oil) and by imports.[175]

Italy has managed four nuclear reactors until the 1980s, but in 1987, after the Chernobyl disaster, a large majority of Italians passed a referendum opting for phasing out nuclear power in Italy. The government responded by closing existing nuclear power plants and stopping work on projects underway, continuing to work to the nuclear energy program abroad. The national power company Enel operates seven nuclear reactors in Spain (through Endesa) and four in Slovakia (through Slovenské elektrárne),[176] and in 2005 made an agreement with Électricité de France for a nuclear reactor in France.[171] With these agreements, Italy has managed to access nuclear power and direct involvement in design, construction, and operation of the plants without placing reactors on Italian territory.[171]

In the early 1970s Italy was a major producer of pyrites (from the Tuscan Maremma), asbestos (from the Balangero mines), fluorite (found in Sicily), and salt. At the same time, it was self-sufficient in aluminium (from Gargano), sulphur (from Sicily), lead, and zinc (from Sardinia).[177] By the beginning of the 1990s, however, it had lost all its world-ranking positions and was no longer self-sufficient in those resources. There are no substantial deposits of iron, coal, or oil. Italy is one of the world's leading producers of pumice, pozzolana, and feldspar.[177] Another mineral resource for which Italy is well-known is marble, especially the world-famous white Carrara marble from the Massa and Carrara quarries in Tuscany.


The Autostrada dei Laghi ("Lakes Motorway"; now parts of the Autostrada A8 and the Autostrada A9) near Besnate, the first motorway built in the world.[178][179]

Regarding the national road network, in 2002 there were 668,721 km (415,524 mi) of serviceable roads in Italy, including 6,487 km (4,031 mi) of motorways, state-owned but privately operated by Atlantia. In 2005, about 34,667,000 passenger cars (590 cars per 1,000 people) and 4,015,000 goods vehicles circulated on the national road network.[180]

Italy was the first country in the world to build motorways, the so-called autostrade, reserved for fast traffic and for motor vehicles only.[178][179] The Autostrada dei Laghi ("Lakes Motorway"), the first built in the world, connecting Milan to Lake Como and Lake Maggiore, and now parts of the A8 and A9 motorways, was devised by Piero Puricelli and was inaugurated in 1924.[179] He received the first authorization to build a public-utility fast road in 1921. By the end of the 1930s, over 400 kilometres of multi- and dual-single-lane motorways were constructed throughout Italy, linking cities and rural towns. Italy is one of the countries with the most vehicles per capita, with 690 per 1000 people in 2010.[181]

FS' Frecciarossa 1000 high speed train, with a maximum speed of 400 km/h (249 mph)[182]

The national railway network is also extensive, especially in the north, totalizing 16,862 km of which 69% are electrified and on which 4,937 locomotives and railcars circulate. It is the 12th largest in the world, and is operated by state-owned Ferrovie dello Stato, while the rail tracks and infrastructure are managed by Rete Ferroviaria Italiana. While a number of private railroads exist and provide mostly commuter-type services, the national railway also provides sophisticated high-speed rail service that joins the major cities. The Florence–Rome high-speed railway was the first high-speed line opened in Europe when more than half of it opened in 1977. In 1991 the TAV was created for the planning and construction of high-speed rail lines along Italy's most important and saturated transport routes (Milan-Rome-Naples and Turin-Milan-Venice). High-speed trains include ETR-class trains, with the Frecciarossa 1000 reaching 400 km/h. Higher-speed trains are divided into three categories: Frecciarossa (English: red arrow) trains operate at a maximum speed of 300 km/h on dedicated high-speed tracks; Frecciargento (English: silver arrow) trains operate at a maximum speed of 250 km/h on both high-speed and mainline tracks; and Frecciabianca (English: white arrow) trains operate on high-speed regional lines at a maximum speed of 200 km/h. Italy has 11 rail border crossings over the Alpine mountains with its neighbouring countries.

21st Century Silk Road with its connections to Italy

Since October 2021, Italy's flag carrier airline is ITA Airways, which took over the brand, the IATA ticketing code, and many assets belonging to the former flag carrier Alitalia, after its bankruptcy.[183] ITA Airways serves 44 destinations (as of October 2021) and also operates the former Alitalia regional subsidiary, Alitalia CityLiner.[184] The country also has regional airlines (such as Air Dolomiti), low-cost carriers, and Charter and leisure carriers (including Neos, Blue Panorama Airlines and Poste Air Cargo). Major Italian cargo operators are Alitalia Cargo and Cargolux Italia. Italy is the fifth in Europe by number of passengers by air transport, with about 148 million passengers or about 10% of the European total in 2011.[185] There are approximately 130 airports in Italy, of which 99 have paved runways (including the two hubs of Leonardo Da Vinci International in Rome and Malpensa International in Milan).

Italy has been the final destination of the Silk Road for many centuries. In particular, the construction of the Suez Canal intensified sea trade with East Africa and Asia from the 19th century. Since the end of the Cold War and increasing European integration, trade relations, which were often interrupted in the 20th century, have intensified again. In 2004 there were 43 major seaports including the Port of Genoa, the country's largest and the third busiest by cargo tonnage in the Mediterranean Sea. Due to the increasing importance of the maritime Silk Road with its connections to Asia and East Africa, the Italian ports for Central and Eastern Europe have become important in recent years. In addition, the trade in goods is shifting from the European northern ports to the ports of the Mediterranean Sea due to the considerable time savings and environmental protection. In particular, the deep water port of Trieste in the northernmost part of the Mediterranean Sea is the target of Italian, Asian and European investments.[186][187][188][189][190][191] The national inland waterway network comprises 1,477 km (918 mi) of navigable rivers and channels. In 2007 Italy maintained a civilian air fleet of about 389,000 units and a merchant fleet of 581 ships.[192]


Homeless in Milan

In 2015, poverty in Italy hit the highest levels in the previous 10 years. The level of absolute poverty for a two-person family was €1050.95/month. The poverty line per capita changed by region from €552.39/month to €819.13/month. The number of those in absolute poverty rose nearly an entire per cent in 2015, from 6.8% in 2014 to 7.6% in 2015.[193] In Southern Italy the numbers are even higher, with 10% living in absolute poverty, up from 9 per cent in 2014. Northern Italy is better off at 6.7%, but this is still an increase from 5.7% in 2014.[193]

The national statistics reporting agency, ISTAT, defines absolute poverty as those who can not buy goods and services which they need to survive. In 2015, the proportion of poor households in relative poverty also increased to 13.7 from 12.9 in 2014. ISTAT defines relative poverty as people whose disposable income is less than around half the national average. The unemployment rate in February 2016 remained at 11.7%, which has been the same for almost a year, but even having a job does not guarantee freedom from poverty.[194]

Those who have at least one family member employed still suffer from 6.1% to 11.7% poverty, the higher number being for those who have factory jobs. The numbers are even higher for the younger generations because their unemployment rate is over 40%. Also, children are hit hard. In 2014, 32% of those aged 0–17 were at risk of poverty or social exclusion, which is one child out of three. While in the north the poverty rate is about the same as that of France and Germany, in the south it is almost double that figure. In the last ISTAT report, poverty is in decline.[195][needs update] According to the 2022 ISTAT Poverty Report, 2.18 million households and 5.6 million people live in absolute poverty in Italy.[196]

According to Eurostat, by 2023 63% of Italian households will struggle to make ends meet, making it one of the European countries with the most widespread economic difficulties, surpassing France, Poland, Spain and Portugal. The European average is 45.5%.[197]

The average annual gross salary in Italy is €41,646 ($44,893),[198] placing the country at the twenty-first position in the OECD area, with lower wages compared to the EU average. Despite this, many Italians still face significant challenges in meeting basic living expenses due to high living costs and regional economic disparities. This underscores the ongoing struggle between income levels and living costs, contributing to the persistence of poverty across the country.

See also[edit]


  1. ^ "Milan, Italy's Industrial and Financial Capital". 18 May 2018. Archived from the original on 7 July 2022. Retrieved 27 May 2022.
  2. ^ "Groups and Aggregates Information". IMF.org. International Monetary Fund.
  3. ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Archived from the original on 28 October 2019. Retrieved 29 September 2019.
  4. ^ a b "Social Expenditure – Aggregated data". OECD. Archived from the original on 19 April 2021. Retrieved 23 April 2024.
  5. ^ a b Kenworthy, Lane (1999). "Do Social-Welfare Policies Reduce Poverty? A Cross-National Assessment" (PDF). Social Forces. 77 (3): 1119–1139. doi:10.2307/3005973. JSTOR 3005973. Archived (PDF) from the original on 10 August 2013.
  6. ^ "Istat: nascite 2022 ancora in calo (-1,9%)". ilsole24ore.com. Archived from the original on 22 March 2023. Retrieved 26 March 2023.
  7. ^ a b c d e f "World Economic Outlook database: April 2024". IMF. International Monetary Fund. Archived from the original on 14 May 2024. Retrieved 26 April 2024.
  8. ^ a b c d e f g h "CIA World Factbook". CIA.gov. Central Intelligence Agency. Archived from the original on 1 July 2021. Retrieved 13 December 2022.
  9. ^ "Poverty in Italy". ISTAT. 5 September 2022. Archived from the original on 5 September 2022. Retrieved 5 September 2022.
  10. ^ "People at risk of poverty or social exclusion by sex". ec.europa.eu. Eurostat. Retrieved 10 June 2024.
  11. ^ "Gini coefficient of equivalised disposable income - EU-SILC survey". ec.europa.eu. Eurostat. Retrieved 10 June 2024.
  12. ^ a b "Human Development Report 2023/2024" (PDF). United Nations Development Programme. 13 March 2024. Archived (PDF) from the original on 13 March 2024. Retrieved 26 April 2024.
  13. ^ "Population, aged 15-74 - EU labour force survey". ec.europa.eu. Eurostat. Archived from the original on 5 September 2022. Retrieved 5 September 2022.
  14. ^ a b c d "EMPLOYMENT AND UNEMPLOYMENT (PROVISIONAL ESTIMATES) - APRIL 2023". istat.it. Italian National Institute of Statistics. June 2023. Archived from the original on 20 June 2023. Retrieved 14 June 2023.
  15. ^ "Home". www.oecd-ilibrary.org. Archived from the original on 17 May 2023. Retrieved 14 May 2023.
  16. ^ "Taxing Wages 2023: Indexation of Labour Taxation and Benefits in OECD Countries | READ online". Archived from the original on 7 September 2023. Retrieved 7 September 2023.
  17. ^ "Archived copy". Archived from the original on 7 September 2023. Retrieved 7 September 2023.{{cite web}}: CS1 maint: archived copy as title (link)
  18. ^ a b "Interscambio commerciale italiano con il resto del mondo infoMercatiEsteri - www.infomercatiesteri.it - infoMercatiEsteri - www.infomercatiesteri.it". www.infomercatiesteri.it. Archived from the original on 22 April 2022. Retrieved 25 June 2022.
  19. ^ "Euromoney Institutional Investor Company". Archived from the original on 3 May 2019. Retrieved 30 September 2017.
  20. ^ "Italy confirms 2023 debt guidance despite ballooning state budget deficit". reuters.com. reuters.com. 26 June 2023. Archived from the original on 18 August 2023. Retrieved 18 August 2023.
  21. ^ a b c d e "Euro area and EU27 government deficit both at 0.6% of GDP" (PDF). ec.europa.eu/eurostat. Eurostat. Archived (PDF) from the original on 9 October 2022. Retrieved 28 April 2020.
  22. ^ "Archived copy" (PDF). Archived (PDF) from the original on 25 December 2017. Retrieved 25 December 2017.{{cite web}}: CS1 maint: archived copy as title (link)
  23. ^ "Archived copy" (PDF). Archived (PDF) from the original on 20 April 2017. Retrieved 25 December 2017.{{cite web}}: CS1 maint: archived copy as title (link)
  24. ^ "Sovereigns Rating List". Standard & Poor's. Archived from the original on 28 September 2011. Retrieved 26 May 2011.
  25. ^ Bufacchi, Isabella (16 October 2014). "Moody's confirms stable outlook on Italy's "Baa2" sovereign rating". Il Sole 24 Ore. Archived from the original on 6 February 2015. Retrieved 8 February 2015.
  26. ^ "Fitch Affirms Italy at 'BBB+'; Outlook Stable". Reuters. 2 October 2014. Archived from the original on 25 October 2014. Retrieved 24 October 2014.
  27. ^ "Scope affirms Italy's BBB+/Stable long-term credit ratings". Scope Ratings. Retrieved 13 July 2024.{{cite web}}: CS1 maint: url-status (link)
  28. ^ a b Hall, Peter A.; Soskice, David (2001). Varieties of Capitalism: The Institutional Foundations of Comparative Advantage. Oxford University Press. p. 131. ISBN 978-0-191-64770-3. Archived from the original on 23 July 2023. Retrieved 18 March 2022.
  29. ^ "Manufacturing by Country 2024". Archived from the original on 30 November 2023. Retrieved 14 October 2023.
  30. ^ "Report for Selected Countries and Subjects". www.imf.org. Archived from the original on 25 April 2018. Retrieved 13 March 2019.
  31. ^ "CIA World Factbook: Italy". CIA. Archived from the original on 1 July 2021. Retrieved 8 February 2015.
  32. ^ "Select Country or Country Groups". www.imf.org. Archived from the original on 22 October 2017. Retrieved 26 November 2017.
  33. ^ "The Economist Intelligence Unit's quality-of-life index" (PDF). The Economist. Archived (PDF) from the original on 2 August 2012. Retrieved 8 February 2015.
  34. ^ Stringa, Giovanni (5 January 2013). "Italia terza al mondo per riserve d'oro, per ogni cittadino dote di 1.650 euro". Corriere della Sera. Archived from the original on 20 September 2015. Retrieved 6 February 2015.
  35. ^ "Quel bilancio Ue poco equilibrato". Il Sole 24 Ore. 1 February 2013. Archived from the original on 19 July 2018. Retrieved 8 February 2015.
  36. ^ Moller, Stephanie; Huber, Evelyne; Stephens, John D.; Bradley, David; Nielsen, François (2003). "Determinants of Relative Poverty in Advanced Capitalist Democracies". American Sociological Review. 68 (1): 22–51. doi:10.2307/3088901. JSTOR 3088901.
  37. ^ a b "Manufacturing, value added (current US$) Archived 10 October 2017 at the Wayback Machine". accessed on 17 May 2017.
  38. ^ "Manufacturing statistics". Eurostat. November 2015. Archived from the original on 3 June 2019. Retrieved 8 February 2015.
  39. ^ Workman, Daniel (27 December 2018). "Italy's Top 10 Exports". World's Top Exports. Archived from the original on 21 April 2019. Retrieved 2 December 2018.
  40. ^ Workman, Daniel (2 March 2019). "Top Industrial Robots Exporters". World's Top Exports. Archived from the original on 4 May 2019. Retrieved 2 December 2018.
  41. ^ a b Woodard, Richard (19 March 2013). "Italian wine now 22% of global market". Decanter. Archived from the original on 27 January 2015. Retrieved 8 February 2015.
  42. ^ Gustafson, Krystina (31 December 2015). "The world's biggest luxury markets in 2015". www.cnbc.com. Archived from the original on 9 November 2019. Retrieved 9 September 2017.
  43. ^ "Italy remains the third market for luxury goods". Archived from the original on 10 March 2020. Retrieved 26 March 2016.
  44. ^ "The Power of Cooperation – Cooperatives Europe key statistics 2015" (PDF). Cooperatives Europe. April 2016. Archived (PDF) from the original on 12 November 2020. Retrieved 28 May 2021.
  45. ^ "REGIONAL ACCOUNTS YEARS 2017-2019" (PDF). ISTAT. 22 December 2020. Archived (PDF) from the original on 8 February 2023.
  46. ^ "Anno 2017 CONTI ECONOMICI TERRITORIALI" (PDF) (in Italian). ISTAT. 13 December 2018. Archived (PDF) from the original on 15 May 2022. Retrieved 18 January 2021.
  47. ^ "GDP per capita growth (annual %) | Data". data.worldbank.org. Archived from the original on 10 August 2019. Retrieved 13 March 2019.
  48. ^ "In Italia 3,7 milioni di lavoratori in nero". LaStampa.it. 14 October 2016. Archived from the original on 1 November 2018. Retrieved 7 July 2017.
  49. ^ "Il Sud d'Italia e i settori che evadono di più". Il Sole 24 Ore (in Italian). 29 August 2019. Archived from the original on 29 March 2023. Retrieved 22 January 2021.
  50. ^ Baten, Jörg (2016). A History of the Global Economy. From 1500 to the Present. Cambridge University Press. p. 44. ISBN 9781107507180.
  51. ^ Coispeau, Olivier (10 August 2016). Finance Masters: A Brief History of International Financial Centers in the Last Millennium. World Scientific. ISBN 9789813108844. Archived from the original on 20 February 2024. Retrieved 14 December 2022.
  52. ^ Rota, Mauro; Weisdorf, Jacob (December 2020). "Italy and the Little Divergence in Wages and Prices: New Data, New Results". The Journal of Economic History. 80 (4): 931–960. doi:10.1017/S0022050720000467. ISSN 0022-0507. S2CID 219359647.
  53. ^ Carlo M. Cipolla, "The Decline of Italy: The Case of a Fully Matured Economy." abFZxxxx Economic History Review 5#2 1952, pp. 178–187. online Archived 20 September 2022 at the Wayback Machine
  54. ^ Baten, Jörg (2016). A History of the Global Economy. From 1500 to the Present. Cambridge University Press. p. 45. ISBN 9781107507180.
  55. ^ a b Toniolo, Gianni, ed. (2013). The Oxford handbook of the Italian economy since unification. New York, NY: Oxford University Press. ISBN 9780199936694.
  56. ^ Riall, Lucy (1999). The Italian risorgimento : state, society, and national unification (Repr. ed.). London [u.a.]: Routledge. p. 53. ISBN 978-0415057752.
  57. ^ Killinger, Charles L. (2002). The history of Italy ([Online-Ausg.] ed.). Westport, Conn. [u.a.]: Greenwood Press. p. 112. ISBN 978-0313314834.
  58. ^ Hildebrand, George Herbert (1965). Growth and Structure in the Economy of Modern Italy. Cambridge, Massachusetts: Harvard University Press. pp. 307–309.
  59. ^ Zamagni, Vera (1993). The economic history of Italy, 1860–1990: from the periphery to the centre (Repr. ed.). [New York]: Clarendon Press. p. 64. ISBN 978-0198287735.
  60. ^ Kemp, Tom (1985). Industrialization in nineteenth-century Europe (2nd ed.). London: Longman. ISBN 978-0582493841.
  61. ^ Ciccarelli, Carlo; Fenoaltea, Stefano (July 2010). "Through the Magnifying Glass: Provincial Aspects of Industrial Growth in Post-Unification Italy" (PDF). Banca d'Italia. p. 4. Archived (PDF) from the original on 9 February 2015. Retrieved 9 February 2015.
  62. ^ Cohen, Robin (1995). The Cambridge Survey of World Migration. Cambridge: Cambridge University Press. p. 114. ISBN 978-0-521-44405-7. Retrieved 8 February 2015.
  63. ^ Clark, Martin (1984). Modern Italy, 1871–1982. New York City: Longman. p. 186. ISBN 978-0-582-48361-3. Retrieved 8 February 2015.
  64. ^ a b c Knight, Patricia (2003). Mussolini and Fascism. New York City: Routledge. pp. 64–65. ISBN 978-0-415-27921-5. Retrieved 8 February 2015.
  65. ^ Welk, William G. (1938). Fascist Economy Policy: An Analysis of Italy's Economic Experiment. Cambridge: Harvard University Press. p. 166. Retrieved 8 February 2015.
  66. ^ Morgan, Philip (2003). Italian Fascism, 1915–1945. Basingstoke: Macmillan Publishers. p. 160. ISBN 978-0-333-94998-6. Retrieved 8 February 2015.[permanent dead link]
  67. ^ Lyttelton, Adrian (2002). Liberal and Fascist Italy, 1900–1945. Oxford: Oxford University Press. p. 13. ISBN 978-0-198-73198-6. Retrieved 8 February 2015.[permanent dead link]
  68. ^ Tagliabue, John (11 August 2007). "Italian Pride Is Revived in a Tiny Fiat". The New York Times. Retrieved 8 February 2015.
  69. ^ "2008/107/1 Computer, Programma 101, and documents (3), plastic / metal / paper / electronic components, hardware architect Pier Giorgio Perotto, designed by Mario Bellini, made by Olivetti, Italy, 1965–1971". www.powerhousemuseum.com. Retrieved 20 March 2016.
  70. ^ "Cyber Heroes: Camillo Olivetti". Hive Mind. Retrieved 7 November 2010.
  71. ^ Hogan, Michael J. (1987). The Marshall Plan: America, Britain, and the reconstruction of Western Europe, 1947–1952. Cambridge: Cambridge University Press. pp. 44–45. ISBN 978-0-521-37840-6.
  72. ^ a b Crafts, Nicholas; Toniolo, Gianni (1996). Economic Growth in Europe Since 1945. Cambridge: Cambridge University Press. p. 428. ISBN 978-0-521-49627-8.
  73. ^ Di Nolfo, Ennio (1992). Power in Europe? Great Britain, France, Germany, and Italy, and the Origins of the EEC, 1952–57. Berlin: Walter de Gruyter. p. 198. ISBN 978-3-11-012158-2.
  74. ^ "Italy since 1945: Demographic and social change". Encyclopædia Britannica Online. Archived from the original on 9 February 2015. Retrieved 8 February 2015.
  75. ^ Vicarelli, Fausto; Sylla, Richard; Cairncross, Alec (1988). Central banks' independence in historical perspective. Berlin: Walter de Gruyter. p. 180. ISBN 978-3110114409.
  76. ^ "Italy since 1945: The economy in the 1980s". Encyclopædia Britannica Online. Archived from the original on 7 January 2015. Retrieved 8 February 2015.
  77. ^ "L'Italia in 150 anni. Sommario di statistiche storiche 1861–2010". ISTAT. Archived from the original on 9 February 2015. Retrieved 8 February 2015.
  78. ^ a b Vietor, Richard (1 April 2001). "Italy's Economic Half-Miracle". Strategy&. Archived from the original on 20 November 2017. Retrieved 8 October 2014.
  79. ^ "Italian Stock Exchange: Main Indicators (1975–2012)". Borsa Italiana. Archived from the original on 6 November 2018. Retrieved 8 February 2015.
  80. ^ "Italy: General government gross debt (Percent of GDP)". International Monetary Fund. Archived from the original on 3 March 2016. Retrieved 8 October 2014.
  81. ^ Balcerowicz, Leszek (2013). Economic Growth in the European Union (PDF). Brussels: Lisbon Council. p. 13. ISBN 978-9-0902-7915-2. Archived from the original (PDF) on 14 July 2014. Retrieved 8 October 2014.
  82. ^ ""Secular stagnation" in graphics". The Economist. 19 November 2014. Archived from the original on 23 November 2014. Retrieved 8 February 2015.
  83. ^ "Quarterly Growth Rates of real GDP, change over previous quarter". OECD. Archived from the original on 5 April 2019. Retrieved 8 February 2015.
  84. ^ Moody, Barry; Mackenzie, James (8 November 2011). "Berlusconi to resign after parliamentary setback". Reuters. Archived from the original on 18 September 2012. Retrieved 8 February 2015.
  85. ^ "General government gross debt". Eurostat. Archived from the original on 6 February 2020. Retrieved 8 February 2015.
  86. ^ Auret, Lisa (18 May 2010). "Could Italy Be Better Off than its Peers?". CNBC. Archived from the original on 30 April 2011. Retrieved 30 May 2011.
  87. ^ Sanderson, Rachel (10 January 2011). "Italian deficit narrows in third quarter". Financial Times. Archived from the original on 10 December 2022. Retrieved 16 July 2011.
  88. ^ Krugman, Paul (24 February 2013). "Austerity, Italian-Style". The New York Times. Archived from the original on 3 January 2022. Retrieved 26 November 2017.
  89. ^ Orsi, Roberto (8 October 2013). "The Demise of Italy and the Rise of Chaos". London School of Economics. Archived from the original on 12 April 2019. Retrieved 26 November 2017.
  90. ^ "Italy exits recession as exports boost growth". Financial Times. 30 April 2019. Archived from the original on 10 December 2022. Retrieved 6 December 2020.
  91. ^ "Coronavirus in Italia, i dati e la mappa". ilsole24ore.com. Archived from the original on 17 July 2020. Retrieved 18 July 2020.
  92. ^ "L'Italia che riparte". ilsole24ore.com. Archived from the original on 18 July 2020. Retrieved 18 July 2020.
  93. ^ Krugman, Paul (23 July 2020). "Why Can't Trump's America Be Like Italy?". The New York Times. Archived from the original on 26 July 2020. Retrieved 27 July 2020.
  94. ^ "BTP Futura – Prima Emissione". borsaitaliana.it. Archived from the original on 18 October 2020. Retrieved 18 July 2020.
  95. ^ "Recovery Fund e bilancio: ecco le poste in gioco al Consiglio europeo". ilsole24ore.com. 17 July 2020. Archived from the original on 18 July 2020. Retrieved 18 July 2020.
  96. ^ Special European Council, 17-21 July 2020 Archived 18 July 2020 at the Wayback Machine Retrieved 15 November 2020.
  97. ^ "EU recovery fund gives chance to 'change the face' of Italy". Reuters. 21 July 2020. Archived from the original on 3 August 2020. Retrieved 2 September 2020.
  98. ^ "IL FIORINO DI FIRENZE, STORIA DEL "DOLLARO DEL MEDIOEVO"" (in Italian). 19 January 2017. Archived from the original on 5 October 2023. Retrieved 4 October 2023.
  99. ^ Nicolò Papadopoli Aldobrandini (2009). Le monete di Venezia descritte ed illustrate da Nicolò Papadopoli Aldobrandini (in Italian). "Progetto Gutenberg Piero Vianelli. p. 136.
  100. ^ "IL VALORE DELLE MONETE ROMANE" (in Italian). Archived from the original on 10 June 2023. Retrieved 4 October 2023.
  101. ^ "Italian coins". ilmarengo.com. Archived from the original on 8 August 2017. Retrieved 14 April 2018.
  102. ^ "Forex Trading Information, Learn About Forex Trading". forex-guide.net. Archived from the original on 26 September 2018. Retrieved 14 April 2018.
  103. ^ The last country to abandon the Carolingian system was Nigeria in 1973, when the pound was replaced by the naira.
  104. ^ "Report for Selected Countries and Subjects". Archived from the original on 21 October 2022. Retrieved 21 October 2022.
  105. ^ "Industry Breakdown of Companies in Italy". HitHorizons. Archived from the original on 14 July 2023. Retrieved 14 July 2023.
  106. ^ a b "Global Wealth Databook 2013" (PDF). Credit Suisse. October 2013. Archived from the original (PDF) on 9 February 2015. Retrieved 9 February 2015.
  107. ^ "Global Wealth Report 2013" (PDF). Allianz. August 2013. Archived from the original (PDF) on 28 May 2018. Retrieved 9 February 2015.
  108. ^ "The World's Billionaires, 2017 Rankings". Forbes. 2017. Archived from the original on 18 September 2018. Retrieved 26 November 2017.
  109. ^ "Gross domestic product (GDP) at current market prices by NUTS 2 regions". Eurostat. Archived from the original on 27 December 2023. Retrieved 23 February 2024.
  110. ^ "Net income: Regions and type of municipality". Italian National Institute of Statistics. Retrieved 24 April 2022.
  111. ^ "meridionale, questione nell'Enciclopedia Treccani". www.treccani.it (in Italian). Archived from the original on 8 February 2021. Retrieved 4 February 2021.
  112. ^ "Latifondo" (in Italian). Archived from the original on 9 May 2022. Retrieved 9 May 2022.
  113. ^ a b McDonald, J.S. (October 1958). "Some Socio-Economic Emigration Differentials in Rural Italy, 1902-1913". Economic Development and Cultural Change. 7 (1): 55–72. doi:10.1086/449779. ISSN 0013-0079. S2CID 153889304.
  114. ^ Duggan, Christopher (2008). The Force of Destiny: A History of Italy since 1796. New York, NY: Houghton Mifflin Company. p. 141.
  115. ^ Pescosolido, Guido. Unità Nazionale e Sviluppo Economico 1750–1913. Roma: Edizioni Nuova Cultura. pp. 64, 177–182, 202.
  116. ^ Giovanni Iuzzolino, Guido Pellegrini and, Gianfranco Viesti. "Convergence among Italian Regions, 1861–2011". Archived from the original on 29 July 2019. Retrieved 1 December 2018.
  117. ^ Pescosolido, Guido (2014). Unità Nazionale e Sviluppo Economico 1750–1913. Roma: Edizioni Nuova Cultura. pp. 90–92, 118–120, 157.
  118. ^ Parravicini, Giannino (1958). La Politica Fiscale e le Entrate Effettive del Regno d'Italia 1860–1890. Turin: ILTE.
  119. ^ Smith, Dennis M. (1997). Modern Italy: A Political History. Ann Arbor: University of Michigan Press. pp. 209–210. ISBN 978-0-472-10895-4.
  120. ^ Newark, Tim (2007). Mafia Allies: The True Story of America's Secret Alliance with the Mob in World War II. London: MBI Publishing Company. pp. 123–135. ISBN 978-0-7603-2457-8.
  121. ^ "Italy: The South". Encyclopædia Britannica Online. 3 February 2015. Archived from the original on 9 February 2015. Retrieved 9 February 2015.
  122. ^ Torres, Raymond (May 2014). "Sintesi del rapporto-Rapporto sul mondo del lavoro 2014: L'occupazione al centro dello sviluppo". World of Work Report. 2014 (1): i–8. doi:10.1002/wow3.54. ISSN 2049-9280.
  123. ^ "Principali aggregati dei conti economici regionali". www.istat.it (in Italian). 2 February 2012. Archived from the original on 8 February 2021. Retrieved 4 February 2021.
  124. ^ "Le statistiche sui livelli dei prezzi al consumo sul territorio: primi risultati e prospettive. La domanda di informazioni sui differenziali territoriali tra i prezzi" (PDF). www.istat.it (in Italian). 25 October 2010. Archived (PDF) from the original on 23 January 2022. Retrieved 18 January 2022.
  125. ^ "Occupati e disoccupati". www.istat.it (in Italian). 2 April 2012. Archived from the original on 3 December 2020. Retrieved 4 February 2021.
  126. ^ "Senza la mafia il Sud raggiunge il Nord". Censis (in Italian). Archived from the original on 7 November 2018. Retrieved 4 February 2021.
  127. ^ "L'Italia è il maggiore produttore di vino" (in Italian). 25 November 2018. Retrieved 11 November 2021.
  128. ^ "L'Italia è il paese con più vitigni autoctoni al mondo" (in Italian). 3 June 2017. Retrieved 11 November 2021.
  129. ^ a b c d "Censimento Agricoltura 2010". ISTAT. 24 October 2010. Archived from the original on 13 February 2015. Retrieved 11 February 2015.
  130. ^ "How pasta became the world's favourite food". bbc. 15 June 2011. Archived from the original on 22 September 2014. Retrieved 28 September 2014.
  131. ^ "I finti prodotti italiani? Anche in Italia!" (in Italian). 4 February 2016. Archived from the original on 30 November 2021. Retrieved 30 November 2021.
  132. ^ "In cosa consiste l'Italian Sounding" (in Italian). 25 March 2020. Archived from the original on 18 November 2021. Retrieved 30 November 2021.
  133. ^ "The spotlight sharpens: Eni and corruption in Republic of Congo's oil sector". Global Witness.
  134. ^ Armenta, Antonio (8 September 2022). "Introduction to Arduino: History, Hardware, and Software". control.com.
  135. ^ a b Mignone, Mario B. (2008). Italy today: Facing the Challenges of the New Millennium. New York City: Lang Publishing. pp. 161–162. ISBN 978-1-4331-0187-8.
  136. ^ "Knowledge Economy Forum 2008: Innovative Small And Medium Enterprises Are Key To Europe & Central Asian Growth". World Bank. 19 May 2005. Archived from the original on 23 June 2008. Retrieved 17 June 2008.
  137. ^ Friedman, Jonathan (2003). Globalization, the State, and Violence. Lanham: Rowman & Littlefield. p. 97. ISBN 978-0-7591-0280-4.
  138. ^ "BRESCIA, THE CAPITAL OF EUROPEAN INDUSTRY". Archived from the original on 18 August 2023. Retrieved 18 August 2023.
  139. ^ "Auto: settore da 144mila imprese in Italia e 117 mld fatturato". adnkronos.com. Archived from the original on 25 September 2015. Retrieved 23 September 2015.
  140. ^ "Country Profiles – Italy". acea.thisconnect.com. Archived from the original on 11 February 2008. Retrieved 9 February 2008.
  141. ^ "Foreign tourist numbers in Italy head towards new record" Archived 1 June 2017 at the Wayback Machine, Retrieved 21 May 2017.
  142. ^ "I numeri dei Terziario - Confcommercio - Anno 2008" (PDF) (in Italian). Archived from the original (PDF) on 22 July 2011. Retrieved 16 February 2010.
  143. ^ a b "Il vero "motore" dell'economia è il settore terziario" (in Italian). Archived from the original on 24 May 2011. Retrieved 10 February 2010.
  144. ^ italy24.ilsole4ore.com, "Borsa Italiana Archived 1 August 2017 at the Wayback Machine"
  145. ^ source sense.com, "Borsa Italiana Archived 7 February 2018 at the Wayback Machine"
  146. ^ news.bbc.co.uk, "London Stock Exchange Buys Borsa Archived 4 April 2015 at the Wayback Machine"
  147. ^ finanzalternativa.it, "[1] Archived 27 March 2022 at the Wayback Machine"
  148. ^ "World Tourism Barometer" (PDF). World Tourism Organization. May 2024. p. 19. Retrieved 24 June 2024.
  149. ^ "Travel & Tourism Economic Impact 2015 Italy" (PDF). World Travel and Tourism Council. Archived from the original (PDF) on 10 October 2017. Retrieved 20 May 2017.
  150. ^ "In Italia 11mila matrimoni stranieri, un turismo da 599 milioni" (in Italian). February 2023. Archived from the original on 2 February 2023. Retrieved 2 February 2023.
  151. ^ "10 Migliori destinazioni italiane per vita notturna" (in Italian). Archived from the original on 9 January 2023. Retrieved 28 December 2021.
  152. ^ "Turismo naturalistico: cos'è e dove praticarlo in Italia" (in Italian). Archived from the original on 9 January 2023. Retrieved 5 May 2022.
  153. ^ "Viaggiare in Italia: giro turistico" (in Italian). Archived from the original on 21 September 2022. Retrieved 31 December 2021.
  154. ^ "Il benessere genera il 5,3% del Pil mondiale: e in Italia è boom per Spa e turismo "wellness"" (in Italian). 11 October 2018. Archived from the original on 9 January 2023. Retrieved 8 January 2022.
  155. ^ "Turismo religioso, in Italia 3 milioni di pellegrini l'anno e 8,6 milioni di presenze" (in Italian). 24 July 2021. Archived from the original on 9 January 2023. Retrieved 5 May 2022.
  156. ^ "Il meglio per il turismo subacqueo in Italia" (in Italian). 27 March 2021. Archived from the original on 9 January 2023. Retrieved 19 January 2022.
  157. ^ "VACANZE IN MONTAGNA IN ITALIA: IN INVERNO E IN ESTATE" (in Italian). 30 July 2017. Archived from the original on 6 October 2022. Retrieved 1 January 2022.
  158. ^ "Il turismo balneare" (in Italian). 14 February 2018. Archived from the original on 1 October 2022. Retrieved 1 January 2022.
  159. ^ "Crociere, Cemar: 8,8 milioni di passeggeri nei porti italiani" (in Italian). 27 April 2022. Archived from the original on 28 June 2022. Retrieved 13 May 2022.
  160. ^ Hoggson, Noble F. (1926). Banking Through the Ages. New York City: Dodd, Mead and Company. p. 76. Retrieved 11 February 2015.
  161. ^ Goldthwaite, Richard A. (1995). Banks, Palaces, and Entrepreneurs in Renaissance Florence. Aldershot: Ashgate Publishing. ISBN 978-0-860-78484-5. Retrieved 11 February 2015.
  162. ^ Macesich, George (2000). Issues in Money and Banking. Westport: Greenwood Publishing Group. p. 42. ISBN 978-0-275-96777-2. Retrieved 12 March 2009.
  163. ^ "Italy's fourth-biggest bank returns to the stockmarket". The Economist. 26 October 2017. Archived from the original on 15 February 2018. Retrieved 9 May 2022.
  164. ^ a b "Leading Italian Companies". Mediobanca. October 2014. Archived from the original on 1 March 2019. Retrieved 9 February 2015.
  165. ^ a b "Il rapporto Comuni Rinnovabili 2015". Comuni Rinnovabili (in Italian). Legambiente. 18 May 2015. Retrieved 13 March 2016.
  166. ^ BP data [2] Archived 6 June 2013 at the Wayback Machine
  167. ^ "Summary for Eni SpA". Archived from the original on 4 June 2016. Retrieved 1 July 2020.
  168. ^ "In Val d'Agri with Upstream activities". Eni. Archived from the original on 16 May 2022. Retrieved 3 February 2021.
  169. ^ Eurostat (2008). Energy, transport and environment indicators (PDF). EU Bookshop. ISBN 978-92-79-09835-2. Retrieved 10 May 2009.
  170. ^ Eurostat (2009). Panorama of Energy (PDF). EU Bookshop. ISBN 978-92-79-11151-8. Retrieved 10 May 2009.
  171. ^ a b c "Emerging Nuclear Energy Countries". World Nuclear Association. December 2014. Archived from the original on 26 January 2016. Retrieved 11 February 2015.
  172. ^ a b "Inventario delle risorse geotermiche nazionali". UNMIG. 2011. Archived from the original on 22 July 2011. Retrieved 14 September 2011.
  173. ^ "TERNA statistics data". Archived from the original on 18 May 2012. Retrieved 21 September 2015.
  174. ^ "The Italian Montalto di Castro and Rovigo PV plants". www.solarserver.com. Archived from the original on 9 May 2018. Retrieved 8 May 2018.
  175. ^ a b "Rapporto Statistico sugli Impianti a fonti rinnovabili". Gestore dei Servizi Energetici. 19 December 2013. Archived from the original (PDF) on 18 October 2017. Retrieved 11 February 2015.
  176. ^ "Nuclear Production". Enel. 31 December 2013. Archived from the original on 7 February 2015. Retrieved 11 February 2015.
  177. ^ a b "Italy, the economy: Resources and power". Encyclopædia Britannica Online. 3 February 2015. Archived from the original on 9 February 2015. Retrieved 9 February 2015.
  178. ^ a b Lenarduzzi, Thea (30 January 2016). "The motorway that built Italy: Piero Puricelli's masterpiece". The Independent. Archived from the original on 26 May 2022. Retrieved 12 May 2022.
  179. ^ a b c "The "Milano-Laghi" by Piero Puricelli, the first motorway in the world". Archived from the original on 1 September 2021. Retrieved 10 May 2022.
  180. ^ European Commission. "Panorama of Transport" (PDF). Archived from the original (PDF) on 7 April 2009. Retrieved 3 May 2009.
  181. ^ John Sousanis (15 August 2011). "World Vehicle Population Tops 1 Billion Units". Ward AutoWorld. Archived from the original on 27 August 2011. Retrieved 27 August 2011.
  182. ^ "Frecciarossa 1000 in Figures". Ferrovie dello Stato Italiane. Archived from the original on 18 December 2014. Retrieved 24 November 2014.
  183. ^ Buckley, Julia (18 October 2021). "Italy reveals its new national airline". CNN. Archived from the original on 18 October 2021. Retrieved 18 October 2021.
  184. ^ Villamizar, Helwing (15 October 2021). "Italian Flag Carrier ITA Airways Is Born". Airways Magazine. Archived from the original on 16 October 2021. Retrieved 18 October 2021.
  185. ^ "Trasporto aereo in Italia (PDF)". ISTAT. 7 January 2013. Archived from the original on 13 January 2013. Retrieved 5 August 2013.
  186. ^ Marcus Hernig: Die Renaissance der Seidenstraße (2018) pp 112.
  187. ^ Bernhard Simon: Can The New Silk Road Compete With The Maritime Silk Road? in The Maritime Executive, 1 January 2020.
  188. ^ Chazizam, M. (2018). The Chinese Maritime Silk Road Initiative: The Role of the Mediterranean. Mediterranean Quarterly, 29(2), 54–69.
  189. ^ Guido Santevecchi: Di Maio e la Via della Seta: «Faremo i conti nel 2020», siglato accordo su Trieste in Corriere della Sera: 5. November 2019.
  190. ^ Linda Vierecke, Elisabetta Galla "Triest und die neue Seidenstraße" In: Deutsche Welle, 8 December 2020.
  191. ^ "HHLA PLT Italy starting on schedule | Hellenic Shipping News Worldwide". www.hellenicshippingnews.com. Archived from the original on 11 January 2021. Retrieved 11 May 2022.
  192. ^ Eurostat (2007). Panorama of Transport (PDF). European Commission. ISBN 978-92-79-04618-6. Archived (PDF) from the original on 12 February 2015. Retrieved 3 May 2009.
  193. ^ a b "Poverty in Italy" (PDF). National Institute of Statistics. Archived (PDF) from the original on 25 March 2016. Retrieved 1 December 2016.
  194. ^ "Unemployment by sex and age – monthly average". eurostat.ec. eurostat. Archived from the original on 9 August 2019. Retrieved 2 December 2016.
  195. ^ "Italy: tackling child poverty and overcoming the crisis – European Platform for Investing in Children (EPIC) – European Union". europa.eu. Europa. Archived from the original on 18 June 2016. Retrieved 2 December 2016.
  196. ^ "Increasing absolute poverty due to inflation" (PDF) (in Italian). Archived (PDF) from the original on 25 October 2023. Retrieved 27 October 2023.
  197. ^ "Oltre il 63% delle famiglie italiane fatica ad arrivare a fine mese" [Over 63% of Italian families struggle to make ends meet. Eurostat, the European average is 45.5%] (in Italian). 21 October 2023. Archived from the original on 27 October 2023. Retrieved 27 October 2023.
  198. ^ Redazione (10 May 2024). "Stipendio medio Italia: ultimi dati 2024, lordo e netto". Partitaiva.it (in Italian). Retrieved 14 May 2024.

External links[edit]