Member of: AfDB, AG (observer), AsDB, Australia Group, BIS, CCC, CDB
(non-regional), CE, CEI, CERN, EBRD, EC, ECE, ECLAC, EIB, ESA, FAO, G-
7, G-10, GATT, IADB, IAEA, IBRD, ICAO, ICC, ICFTU, ICRM, IDA, IEA,
IFAD, IFC, IFRCS, ILO, IMF, IMO, INMARSAT, INTELSAT, INTERPOL, IOC,
IOM, ISO, ITU, LAIA (observer), MINURSO, MTCR, NACC, NATO, NEA, NSG,
OAS (observer), OECD, ONUSAL, OSCE, PCA, UN, UNCTAD, UNESCO, UNHCR,
UNIDO, UNIFIL, UNIKOM, UNITAR, UNMOGIP, UNOMOZ, UNTSO, UPU, WCL, WEU,
WHO, WIPO, WMO, WTO, ZC
Diplomatic representation in US: chief of mission: Ambassador Boris BIANCHERI-CHIAPPORI chancery: 1601 Fuller Street NW, Washington, DC 20009 telephone: [1] (202) 328-5500 consulate(s) general: Boston, Chicago, Houston, Miami, New York, Los Angeles, Philadelphia, San Francisco consulate(s): Detroit and New Orleans
US diplomatic representation: chief of mission: Ambassador Reginald BARTHOLOMEW embassy: Via Veneto 119/A, 00187-Rome mailing address: PSC 59, Box 100, Rome; APO AE 09624 telephone: [39] (6) 46741 FAX: [39] (6) 4882672 consulate(s) general: Florence, Milan, Naples
Flag: three equal vertical bands of green (hoist side), white, and red; similar to the flag of Ireland, which is longer and is green (hoist side), white, and orange; also similar to the flag of the Cote d'Ivoire, which has the colors reversed - orange (hoist side), white, and green
@Italy:Economy
Overview: Since World War II the Italian economy has changed from one based on agriculture into a ranking industrial economy, with approximately the same total and per capita output as France and the UK. The country is still divided into a developed industrial north, dominated by private companies, and an undeveloped agricultural south, dominated by large public enterprises. Services account for 48% of GDP, industry 35%, agriculture 4%, and public administration 13%. Most raw materials needed by industry and over 75% of energy requirements must be imported. After growing at an average annual rate of 3% in 1983-90, growth slowed to about 1% in 1991 and 1992, fell by 0.7% in 1993, and recovered to 2% in 1994. In the second half of 1992, Rome became unsettled by the prospect of not qualifying to participate in EU plans for economic and monetary union later in the decade; thus it finally began to address its huge fiscal imbalances. Subsequently, the government has adopted fairly stringent budgets, abandoned its highly inflationary wage indexation system, and started to scale back its extremely generous social welfare programs, including pension and health care benefits. Monetary officials were forced to withdraw the lira from the European monetary system in September 1992 when it came under extreme pressure in currency markets. For the 1990s, Italy faces the problems of pushing ahead with fiscal reform, refurbishing a tottering communications system, curbing pollution in major industrial centers, and adjusting to the new competitive forces accompanying the ongoing expansion and economic integration of the European Union.
National product: GDP - purchasing power parity - $998.9 billion (1994 est.)
National product real growth rate: 2.2% (1994 est.)
National product per capita: $17,180 (1994 est.)
Inflation rate (consumer prices): 3.9% (1994)