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Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, welfare-dependent, agricultural south, with high unemployment. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family-owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 15% of GDP.
Economy of Italy
Currency Euro
Fiscal Year 01 January - 31 December
GDP (PPP) $1.76 trillion (2009 est.)
GDP (per capita) $30,300 (2009 est.)
Exports $369 billion (2009 est.)
Imports $358.7 billion (2009 est.)
Main Industries Tourism, Machinery, Iron and Steel, Chemicals, Food Processing, Textiles, Motor Vehicles, Clothing, Footwear, Ceramics
Exports - Commodities Engineering Products, Textiles and Clothing, Production Machinery, Motor Vehicles, Transport Equipment, Chemicals; Food, Beverages and Tobacco; Minerals, and Nonferrous Metals
Imports - Commodities Engineering Products, Chemicals, Transport Equipment, Energy Products, Minerals and Nonferrous Metals, Textiles and Clothing; Food, Beverages, and Tobacco
Exports Partners Germany 12.7%, France 11.2%, Spain 6.5%, US 6.2%, UK 5.2% (2008)
Imports Partners Germany 15.9%, France 8.5%, China 6.2%, Netherlands 5.3%, Libya 4.6%, Russia 4.2% (2008)