Italy country overview
Before we start to discuss Italy GDP, first we discuss Italy’s country overview, so Italy is officially called the Italian Republic. It is located in Southern Europe.
It shares its borders with France, Switzerland, Austria, and Slovakia. Rome is the capital and the largest city of Italy. Its official language is Italian. In ethnic groups, 92% Italians and 8% others live in Italy.
In religion, 81% of Christianity and 19% of other religions exist in Italy. Its government system is the Unitary parliamentary republic.
Its president’s name is Sergio Mattarella. Its prime minister’s name is Mario Draghi. Its total land area is 301,341 km2. Its land area rank is 71st in the world.
Italy’s total population is 60,317,200 in the year 2020. Its population rank is 23rd in the world. Its population density is 201/km2. Its population dn=ensity rank is 74th in the world.
Italy’s currency is called the Euro. The Italian economy is considered a developed and advanced economy with also a high-income economy.
The inflation rate in Italy is 1.7% in the year 2021. 5.7% of its population lives below the poverty line. Its HDI rate is 0.982 in the year 2019 which is considered the very high HDI rate in the world.
Its HDI rank is 29th in the world. The unemployment rate in Italy is 9% in the year 2020. Its gross external debt is $3 trillion in the year 2020. Its total foreign reserves are $200 billion in the year 2020.
Its total GDP is $2 trillion (nominal) and $2.6 trillion (PPP) in the year 2021. Its GDP rank is 8th (nominal) and 13th (PPP) in the year 2021.
Its GDP growth rate is 5.7% in the year 2021. Italy’s GDP per capita is $35,580 (nominal) and $43,260 (PPP) in the year 2021.
Its GDP per capita rank is 25th (nominal) and 29th (PPP) in the year 2021. When we talk about its GDP by sector, so agriculture 2.1%, industry, 24%, and services are 74% in the year 2017.
Italy’s total exports are $687 billion in the year 2019. Its main export goods are textile, machinery, transport, food products, minerals, and others. Its main export partners are Germany, France, the United Kingdom, and others.
Its total imports are $647 billion in the year 2019. Its main import goods are chemicals, energy, minerals, metals, food products, and others. Its main import partners are Germany, China, France, Spain, and others.
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