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Economy of Italy

Italy, formally the Italian Republic, is a sovereign nation situated in the Southern Europe. France, Switzerland and Austria are the neighbor countries of Italy. The estimated GDP of country in terms of purchasing power parity (PPP) is $1.805 trillion as of 2013 which is the 12th largest when compared to the world. Italy has the solid economic condition courtesy of the revenues that are being generated by various industries. Rome is the capital and largest city of Italy. Italy highly depends on its industrial zone, agricultural sector for its economy, however, private and large-scale companies are also playing a vital role for the enhancing the revenues for making Italy a better place for living. Talk about largest economies, Italy takes pride for regarding as the third largest economies in the European region. However, its extraordinarily high public debit and organizational disorders to development have rendered it. A large volume of Italian people are involved with tourism, machinery, iron, steel, chemicals, food processing, textiles, automobiles, footwear, ceramics and many other little professional to run the mill. Italy has a calendar year system for handling the monetary affairs of country.

Imports of Italy

Italy is the 13th largest importer of the world with an estimated import value of $435.8 billion as of 2013. The main import commodities of Italy include manufacturing products, chemicals, transport equipment, energy products, minerals, metals, textiles, clothing, food, beverages and tobacco. The dominant import partners of Italy include Germany, France, China, Russia, Netherlands, Spain and Belgium.

Exports of Italy

With an estimated export value of $474 as of 2013, Italy lies on 11th spot in the list of countries with largest exports. The main export commodities of country include engineering products, textiles & clothing, machinery & equipment, automobiles, chemicals, beverages & tobacco and foodstuffs. The major export partners of Italy include Germany, France, US, Switzerland, United Kingdom and Spain.

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Capital
Rome
Dialing Code
+39
Fiscal Year
01 January - 31 December
Currency
Euro (EUR)
GDP
$1,823,000,000,000
Exports
$508.9 billion (2011 est.) | Engineering Products, Textiles And Clothing, Production Machinery, Motor Vehicles, Transport Equipment, Chemicals; Food, Beverages And Tobacco; Minerals, And Nonferrous Metals
Imports
$541.2 billion (2011 est.) | Engineering Products, Chemicals, Transport Equipment, Energy Products, Minerals And Nonferrous Metals, Textiles And Clothing; Food, Beverages, And Tobacco
Industries
Tourism, Machinery, Iron And Steel, Chemicals, Food Processing, Textiles, Motor Vehicles, Clothing, Footwear, Ceramics

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