Italy ranks as the 4th largest economy in Europe and 8th largest in the world.
GDP of Italy is $2.147 trillion nominal.
Italy is the founding member of Eurozone, the European Union, the OECD, G7 and the G8 groups. Italy has the 3rd largest reserve of gold in the world and gold is the third net contributor to the budget of Italy. The PPP GDP of Italy is 12th largest in the world. Italy is the largest producer of wine in the world. The GDP growth 0.3% in Q1 2015. Per capita GDP is $35,925 (nominal). Services is the major contributor to the economy at 74% followed by industry at 24% and agriculture at 2%. The country is well known for its influential and innovative business economic sector, a competitive agricultural sector, and for prowess in creative and superior quality automobiles, industrial, naval, appliance, fashion and design. Inflation was at 1.2%. Population below poverty line is 6.8%. The size of the labour force is 25.7 million. Majority of the labour in employed in services sector (68%). Unemployment is at 12.4% Italy ranks 56th in the ease of doing business index. The 2000’s recession hit Italy very hard. The massive government spending to revive the economy led to a sever rise in public debt. Italian living standards have a considerable North–South divide: the average GDP per capita in Central and Northern Italy significantly exceeds the EU average, whilst some regions and provinces in Southern Italy are dramatically below