Diplomatic representation from the US: chief of mission: Ambassador Melvin SEMBLER embassy: Via Vittori Veneto 119/A, 00187-Rome mailing address: PSC 59, Box 100, APO AE 09624 telephone: [39] (06) 46741 FAX: [39] (06) 488-2672, 4674-2356 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
Economy Italy
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 20% unemployment. Most raw materials needed by industry and more than 75% of energy requirements are imported. Over the past decade, Italy has pursued a tight fiscal policy in order to meet the requirements of the Economic and Monetary Unions and has benefited from lower interest and inflation rates. Italy's economic performance has lagged behind that of its EU partners, and the current government has enacted numerous short-term reforms aimed at improving competitiveness and long-term growth. Rome has moved slowly, however, on implementing needed structural reforms, such as lightening the high tax burden and overhauling Italy's rigid labor market and expensive pension system, because of the current economic slowdown and opposition from labor unions.
GDP: purchasing power parity - $1.402 trillion (2001 est.)
GDP - real growth rate: 1.8% (2001 est.)
GDP - per capita: purchasing power parity - $24,300 (2001 est.)
GDP - composition by sector: agriculture: 2.4% industry: 30% services: 67.6% (2001 est.)
Population below poverty line: NA%
Household income or consumption by percentage share: lowest 10%: 2.1% highest 10%: 26.6% (2000)