Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, 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 17% of GDP. These activities are most common within the agriculture, construction, and service sectors. 

 

GDP - real growth rate: -2.3% (2012 est.)

GDP - per capita (PPP): $30,100 (2012 est.)
 
Labor force: 25.28 million (2012 est.)
Labor force - by occupation: agriculture: 3.9%, industry: 28.3%, services: 67.8% (2011)

 

Inflation rate (consumer prices): 3% (2012 est.)

Agriculture - products: fruits, vegetables, grapes, potatoes, sugar beets, soybeans, grain, olives; beef, dairy products; fish
Industries: tourism, machinery, iron and steel, chemicals, food processing, textiles, motor vehicles, clothing, footwear, ceramics
 
Exports: $483.3 billion (2012 est.)
Exports - commodities: engineering products, textiles and clothing, production machinery, motor vehicles, transport equipment, chemicals; food, beverages and tobacco; 
Exports - partners: Germany 13.3%, France 11.8%, US 5.9%, Spain 5.4%, Switzerland 5.4%, UK 4.7% (2011)
 
Imports: $469.7 billion (2012 est.)
Imports - commodities: engineering products, chemicals, transport equipment, energy products, minerals and nonferrous metals, textiles; food, beverages, and tobacco
Imports - partners: Germany 16.5%, France 8.8%, China 7.7%, Netherlands 5.5%, Spain 4.7% (2011)