Main article: Italy
GDP
Main article: Italy's GDP
Financial system
Non-financial debt
2022: Aggregate non-financial debt
National debt
Main article: Italian State Debt
Inflation
2023: 8.1% in May
2022
Inflation in November - 11.8%
Inflation in July - 7.9%
July
2021: December inflation - 4.2%
Inflation in December 2021 in Italy reached its highest level in more than a decade, as rising energy costs contribute to higher prices.
In December, it was 4.2% compared to a year ago, while in the previous month price growth was 3.9%, the Italian statistical institute Istat said in a statement.
Key rate
Budget
2024: Budget deficit over 4% of GDP
Georgia Prime Minister Italy Meloni's government is set to reduce Italy's budget deficit to below 3% over the next two years to reassure Brussels officials checking the country's huge debts, sources said. It is unclear how the government will achieve this result.
2023: Budget deficit over €30bn per month
Italy's budget deficit in March 2023 reached the indicator that was during the economic shutdown in COVID-19.
2021: EU support program after COVID-19 pandemic
EU The Next Generation program - 750 billion euros (915 billion) dollars in grants and loans aimed at stimulating economic recovery - will begin in June 2021, with Southern countries receiving the lion's share. Europe
According to Bloomberg Economics, the program will allocate funding equivalent to almost 1% of the eurozone's GDP annually from 2022 to 2024, with spending gradually increasing from the second half of 2021.
2019: Cloud service providers taxed in Italy
At the end of December 2019, the Italian parliament passed a bill that introduces a 3% tax on the income of digital service providers (including cloud), which receive more than $831 million in revenue worldwide and at least $6 million in Italy. Read more here.
Investments
2023
Reduced foreign investment
Italy creates a state fund to invest in AI startups
On May 30, 2023, Deputy Foreign Minister Italy Alessio Butti announced that a specialized investment fund had been formed in the country to support startups in the region. artificial intelligence More. here
Stock market
2024: Issuers capitalization 40% of GDP
Taxes
R&D
2020: R&D spending - $29.6 billion
Foreign trade
2024
The trade turnover of Russia and Italy over the year decreased by 5 times
In mid-October 2024, it became known about a sharp reduction in trade between Italy and Russia. Russian Ambassador to Italy Aleksei Paramonov said the following:
 | I must admit that Russia did not expect from Italy such a hasty, and most importantly, absolutely self-destructive rejection of the status of a privileged economic partner. Moscow Some jealous allies of Italy have been working hard to upset or destroy the Russian-Italian economic idyll. Not by washing, so rolling this goal has been achieved. We trade less and less, mutual trade fell almost five times, to a modest $7-8 billion, expected by the end of 2024. |  |
According to Paramonov, it will be extremely difficult for Russia and Italy to return to their previous positions and restore the volume of mutual trade.
| | Fortunately, in Italy, as in Russia, realists and optimists have not yet translated. There are especially many of them among representatives of the business community. I would like to believe that they, as it was in the past, will play their role in bilateral relations again, "he added.[1] | |
Direct deliveries to Russia with indication in the documents of Kyrgyzstan
In April 2024, exports to Russia through third countries in Central Asia continue to remain at a record level. Kyrgyzstan is a key hub for transshipment, with exports from European countries never arriving in Bishkek. Kyrgyzstan is what is indicated in the bill, but these goods go directly to Russia.
2023: 3x jump in exports to China
In a little more than a year, according to the results of February 2023, Italy's exports to China tripled. The problem is that even experts find it difficult to explain why.
In February, the volume of supplies to China exceeded 3 billion euros (3.3 billion) dollars , which is 131% more than a year earlier. That followed another 137% jump a month earlier. For comparison, in January 2022 Italy , exported goods and services worth about 1 billion euros to economy No. 2 in the world.
2022
Germany is the largest export destination
Trade deficit with China
2021
Seventh largest importer to Russia
Italy is among the largest arms exporters in 5 years with a share of 3.1%
2019
5th place in terms of imports to the Russian Federation
Exporting Computer Devices
The Impact of US President Trump's Administration's Trade Restrictions
2015: Top ten global apple exporters with 13.7% share
Information Technology
IT market
2022: Italy sets up €4 billion fund to boost chip production
In early March 2022, Italy created a €4 billion fund to develop chip production. With these funds, the country's leadership seeks to attract more investment from technology companies such as Intel. Read more here.
2021: Introduction of fines for users of pirated online cinemas in Italy
In early September 2021 Italy , they began to fine users and subscribers pirate online cinemas who used the services. IPTV More. here
2020: European tech companies attracting the most investment in 5 years
Video Surveillance (Italian Market)
2022: More than 10,000 CCTV cameras on the roads
Telecommunications
2023: Italy passed a law on fines of 5 thousand euros for watching pirated videos on the Internet
On July 27, 2023, the authorities Italy passed a new law aimed at combating piracy on the Internet. Users caught watching illegal streaming video services will be fined €5,000. More. here
Real estate
2023: Commercial property deal volume collapse
In the second quarter of 2023, the volume of commercial real estate transactions in Europe fell by 58% to the lowest level since 2010.
The office segment suffered the most - the fall was 68%, while in the hotel segment the fall was 36%. In all major markets, there was a significant decrease in the volume of transactions.
Salaries
2022: Real wages below 2000 levels
2018: Salaries of top officials in government management
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2017: Average monthly salary
Labour market and unemployment
2024
2023
Youth unemployment 21.3%
The decline in the number of employees aged 15 to 64 years
2022
The proportion of employees aged 65 or more - above 5%
Unemployment rate - 8.1%
2020: Unemployment rate - 11%
2019: Average labor productivity - $56.09 per hour
Pensions
2023: Minimum retirement age is 67
2020: Average retirement age for women - 61, for men - 62
Retail
2023: Retail slump as pressure attempts on Russia
2018: CRAI is the largest retail chain
Consumption
Tea
2018: Per capita tea consumption per kg per year
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Milk
2018: Milk consumption in litres per year per person
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Meat
2023: Pork is the most consumed type of meat
2019: Pork is the most consumed type of meat
Beer
2019: Beer consumption in litres per year per person
Foreign exchange reserves
Energy carriers
2023
Azerbaijan is the largest oil supplier and second gas importer
As of mid-2024, he Italy Azerbaijan became the main supplier of oil and the second importer of gas. For Baku, Italians are one of the main trading partners: trade between the countries reaches $16 billion.
State contributions to pay for energy by citizens and companies reached 5% of GDP
2021: Natural gas is the main source of energy in the country
2020: Energy consumption per capita
and
Energy supplies
Gasoline price
Lighting
Industry
2021:217 robots for 10,000 employees
Food industry
2021: Cheese production - 23.3 kg per capita
Agriculture
2019: Average use of pesticides in agriculture
Tourism
2022: Reduced number of foreign tourists to 50 million
2020:55 UNESCO-protected World Heritage Sites
2019: More than 15% of the population went on tourist trips. Spain is the most popular country
2018: Italy is among the top countries in terms of tourism revenue
Alcohol market
2023:17% reduction in wine production
In 2023, the volume of wine production in Italy decreased by 17%. One of the main reasons for such a sharp drop is unfavorable climatic conditions. This is stated in the material of The Drinks Business, which TAdviser got acquainted with at the end of October 2024.
It is noted that the summer To Europe of 2023 in became the hottest in the previous 2000 years. This negatively affected the harvest of grapes, and also led to a significant drop in the production of all agricultural products in Italy. In particular, local farms recorded an annual decline in production by 3.9%, while the production of grapes, fruits and olives decreased by 11.1%.
Wine
| | Adverse weather conditions at different times [2023], as well as a series of extreme events that affected many of the most important crops, had a negative impact on the industry, the publication said. | |
Fruit cultivation has been hampered by spring frosts and hail, according to the ISTAT National Bureau of Statistics. And severe drought in southern Italy, on the islands of Sicily and Sardinia led to the death of crops and the loss of livestock.
| | The decline in wine production in Italy by 17% in 2023 serves as a harsh reminder of the impact of climate change on traditional industries, notes the Vinetur resource. | |
However, natural phenomena are not the only reason that provoked a sharp decline in wine production in Italy. Among other factors affecting the industry, international tensions, inflation and a decrease in the purchasing power of citizens are named. In addition, changes in the lifestyle of people are mentioned: in many regions there is a decrease in the consumption of alcoholic beverages, including wine.[2]
Minimum age to purchase alcoholic beverages
Transport
2021: Average train speed - 169.9 km/h
Cars
2023: Ninth in the world in terms of the number of cars sold - 1.8 million units
2021: 440,000 cars produced
Diasporas in countries of the world
See also
Notes
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