FAX: [39] (06) 488-2672
consulate(s) general: Florence, Milan, Naples
Flag description: 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
note: inspired by the French flag brought to Italy by Napoleon in 1797
Italy Economy
Economy - overview: Italy has a diversified industrial economy with roughly the same total and per capita output as France and the UK. This capitalistic economy remains divided into a developed industrial north, dominated by private companies, and a less developed agricultural south, with more than 20% unemployment. Most raw materials needed by industry and more than 75% of energy requirements are imported. Since 1992, Italy has adopted budgets compliant with the requirements of the European Monetary Union (EMU); wage moderation agreements by representatives of government, labor, and employers have helped to bring Italy's inflation into conformity with EMU requirements. Italy's economic performance, however, has lagged behind that of its EU partners and it must work to stimulate employment, promote labor flexibility, reform its expensive pension system, and tackle the informal economy.
GDP: purchasing power parity - $1.273 trillion (2000 est.)
GDP - real growth rate: 2.7% (2000 est.)
GDP - per capita: purchasing power parity - $22,100 (2000 est.)
GDP - composition by sector: agriculture: 2.5%