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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. [32]
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.
In the recent decades, however, Italy's economic growth has been particularly stagnant, with an average of 1.23% compared to an EU average of 2.28%. Previously, Italy's economy had accelerated from 0.7% growth in 1996 to 1.4% in 1999 and continued to rise to about 2.90% in 2000, which was closer to the EU projected growth rate of 3.10%.
Italy's north-south divide is exemplified by the economic gap between the southern Calabria region, where gross domestic product per capita is about half of the EU average, and the northern ...
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 ...
Downtown Milan in the 1960s. The Italian economic miracle or Italian economic boom (Italian: il miracolo economico italiano or il boom economico italiano) is the term used by historians, economists, and the mass media [1] to designate the prolonged period of strong economic growth in Italy after World War II to the late 1960s, and in particular the years from 1958 to 1963. [2]
This is an accepted version of this page This is the latest accepted revision, reviewed on 31 January 2025. List of great powers from the early modern period to the post-Cold War era Great powers are often recognized in an international structure such as the United Nations Security Council. A great power is a nation, state or empire that, through its economic, political and military strength ...
Economic power refers to the ability of countries, businesses or individuals to improve living standards. It increases their ability to make decisions on their own that benefit them. Scholars of international relations also refer to the economic power of a country as a factor influencing its power in international relations. [1]