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The economy of Italy is a highly developed social market economy. [31] It is the third-largest national economy in the European Union, the 8th-largest economy in the world by nominal GDP, and the 11th-largest by PPP-adjusted GDP. The country has the second-largest manufacturing industry in Europe, which is also the 7th-largest in the world.
The IMF also warned Italy that the passing of their proposed budget could result in a recession that could last until the mid 2020s. [7] Italy's economy has been in turmoil since 2008 and the IMF predicts that at the current growth rate the anti-EU government will prolong Italy in reaching the economic prosperity it had prior to the collapse.
Main: Post-World War II economic growth and increased industrial production in Italy The Fiat 500, launched in 1957, is considered a symbol of Italy's postwar economic miracle. [45] Programma 101, developed in 1965 by Olivetti, is considered one of the first programmable calculators ever and was an economic success internationally. [46] [47]
Italy will probably balance its primary budget this year, excluding interest payments on government debt, the economy minister said on Friday, as Rome prepares a medium-term fiscal plan for ...
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In 2019, Rome introduced a 3% levy on revenue from internet transactions for digital companies with annual sales of at least 750 million euros ($788.40 million) if at least 5.5 million are made in ...
Italy's great power strength includes a vast advanced economy [15] [16] (in terms of national wealth, net wealth per capita and national GDP), a strong manufacturing industry (ranking 7th on the list of countries by manufacturing output), [17] a large luxury goods market, [18] a large national budget and the third largest gold reserve in the world.
The world economy or global economy is the economy ... Germany, India, Indonesia, Italy, Japan ... 2007–2008 world food price crisis; Economic impact of the COVID ...