Italy

Economy Of Italy

The economy of Italy was in 2008 the seventh-largest economy in the world and the fourth-largest in Europe, according to the International Monetary Fund. Italy belongs to the Group of Eight (G8) industrialized nations; it is a member of the European Union, OECD, and the Group of Eight (G8). The country is divided into a developed industrial north dominated by large private companies and an agricultural, state-assisted south. Italy has, according to The Economist the world's 8th highest quality of life index, has a very high standard of living, and is the world's 18th most developed country, surpassing countries such as UK, Germany, and Greece.. The country also is home to 6 of the world's 100 biggest companies. According to the World Bank, Italy has high levels of freedom for investments, business and trade. Italy has the world's 6th (7th including the European Union) highest exports, that of US$ 546, 900,000,000 (est.) in 2008. Italy, also, has the world's 24th highest oil exports, which was US$ 521, 400 in 2004, surpassing even Germany and France. Also, the country exports and produces the highest level of wine, exporting over 1, 793 tonnes. Italy was responsible for producing approximately one-fifth of world wine production in 2005. (read more)