Italy


Italy Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Italy; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank Bank of Italy
Italy is part of the Eurosystem and the European Central Bank
International Reserves US$ 169.872 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 2.067 trillion (2011 estimate)
GDP (Purchasing Power Parity) 1.835 trillion of International dollars (2011 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
1.8% 0.5% 0% 1.5% 0.7% 2% 1.5% -1.2%
2009 2010 2011 2012*
-5.5% 1.8% 0.4% -1.9%

*Estimate

GDP per capita - current prices US$ 33,942 (2010 estimate)
GDP per capita - PPP $30,133 International Dollars (2010 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
4.47% 4.16% 3.32% 2.41% 1.98%

**Forecast

GDP - composition by sector
  • agriculture: 1.9% 
  • industry: 25.2% 
  • services: 72.9% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) 1.26% (2010)

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
0.8%(2008) 1.6% 2.9% 2.5%

*Estimate

Unemployment rate
2009 2010 2011 2012*
7.8% 8.4% 8.4%(2009) 9.5%

*Estimate

Household saving rates 3.6% (Net saving; 2012 forecast)

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
105.8% 116.1% 118.7% 120.1% 123.4%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
-2.7% -5.4% -4.5% -3.9% -2.4%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: BBB+

Moody's rating: Baa2

Moody's outlook: NEG

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
US$317.3 billion US$318.1 billion US$431.5 billion
Largest companies in Italy Finmeccanica (Aerospace and defense), Prada (Apparel/Accessories), Fiat Group (Auto & Truck Manufacturers), Pirelli & C (Auto & Truck Parts), Mediaset (Broadcasting & Cable), Italmobiliare (Construction Materials), Generali Group (Diversified Insurance), Fondiaria-SAI (Diversified Insurance), Unipol (Diversified Insurance), Cattolica Assicurazioni (Diversified Insurance), ENEL (Electric Utilities), Edison (Electric Utilities), Terna (Electric Utilities), A2A (Electric Utilities), Fiat Industrial (Heavy Equipment), EXOR (Investment services), Mediolanum (Life & Health Insurance), Intesa Sanpaolo (Major Banks), UniCredit Group (Major Banks), Banca MPS (Major Banks), ENI (Oil & Gas Operations), Saras (Oil & Gas Operations), Atlantia (Other Transportation), Mediobanca (Regional Banks), Banco Popolare (Regional Banks), UBI Banca (Regional Banks), Banca Popolare dell'Emilia (Regional Banks), Banca Carige (Regional Banks), Banca Popolare di Milano (Regional Banks), Credito Emiliano (Regional Banks), Banca Popolare di Sondrio (Regional Banks), Credito Valtellinese (Regional Banks), Luxottica Group (Specialty Stores), Telecom Italia (Telecommunications Services) (2012)
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ -45.9 billion (2011 estimate)(After 2008)
Current account balance by percentage of GDP -2.2% of GDP (2011 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

26.7% (2010)

(Data released on April 2012)

Shares in world total merchandising export 2.87%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 2.52% (2011)(2007)

(Data were released in 2012)

Total exports US$483.3 billion (2012 estimate) 
Export commodities engineering products, textiles and clothing, production machinery, motor vehicles, transport equipment, chemicals; food, beverages and tobacco; minerals, and nonferrous metals
Total imports US$469.7 billion (2012 estimate) 
Import commodities engineering products, chemicals, transport equipment, energy products, minerals and nonferrous metals, textiles and clothing; food, beverages, and tobacco
Exports - major partners Germany 13.3%, France 11.8%, US 5.9%, Spain 5.4%, Switzerland 5.4%, UK 4.7% (2011)
Imports - major partners Germany 16.5%, France 8.9%, China 7.7%, Netherlands 5.5%, Spain 4.7% (2011)
FDI inflows
2009 2010 2011
US$20,077 million US$9,178 million(2009) US$29,059 million(2009)
FDI outflows
2009 2010 2011
US$21,275 million US$32,655 million US$47,210 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
US$21,358 million US$17,505 million(2009) US$-6,193 million(2009) US$4,176 million
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 73 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 84 out of 185 countries(2009)

Enforcing Contracts: 160 out of 185 countries

Registering Property: 39 out of 185 countries

Getting credit: 104 out of 185 countries

Protecting investors: 49 out of 185 countries

Trading across border: 55 out of 185 countries

Paying Taxes: 131 out of 185 countries

Dealing with Construction Permits: 103 out of 185 countries

Getting Electricity: 107 out of 185 countries

Resolving Insolvency: 31 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
42

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 92 Score: 58.8 (Mostly Unfree) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC+1
Total area 301,318 km2 (2006)
Capital Rome (2009)
Currency euros (EUR) (2009)
Government type republic (2009)
Languages Italian (official), German (parts of Trentino-Alto Adige region are predominantly German speaking), French (small French-speaking minority in Valle d'Aosta region), Slovene (Slovene-speaking minority in the Trieste-Gorizia area)
Religions Roman Catholic 90% (approximately; about one-third practicing), other 10% (includes mature Protestant and Jewish communities and a growing Muslim immigrant community)
Total population
1980 1990 2000 2012* 2017**
56.39 million 56.69 million 57.04 million 60.9 million 61.98 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
59.4% 66.6% 67.2% 68.4%
Population median age 43 years (2010)
Population growth rate 0.5% (2011)
Life expectancy 82 years (2010)
Adult literacy 99% (2005/2010)
% of population living on less than $2 a day N/A
Inequality of wealth distribution (Gini index)

36.03 (2000)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:1
Civil Liberties:1 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

186.48% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 56.8% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Rome: 34th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

6.653 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST TREASURY & CASH MANAGEMENT BANKS & PROVIDERS

2013:
  • REGIONAL WINNERS/Best Overall Bank for Cash Management UniCredit (Central and Eastern Europe, 2013)
  • REGIONAL WINNERS/Best Bank for Payments and Collections UniCredit (Central and Eastern Europe, 2013)
2012:
  • Best Overall Bank for Cash Management UniCredit (National, 2012)
  • Best Bank for Payments and Collections UniCredit (National, 2012)
2011:
  • Best Overall Bank for Cash Management UniCredit (National, 2011)
  • Best Bank for Liquidity Management UniCredit (National, 2011)
  • Best Bank for Payments and Collections UniCredit (National, 2011)
2010:
  • Best Overall Bank for Cash Management UniCredit (Global, 2010)
  • Best Bank for Liquidity Management UniCredit (Global, 2010)
  • Best Bank for Payments and Collections UniCredit (National, 2010)
2009:
  • Best Bank for Payments and Collections UniCredit Group (National, 2009)

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2013:
  • REGIONAL WINNERS UniCredit (Central and Eastern Europe, 2013)
  • COUNTRY WINNERS UniCredit (National, 2013)
2012:
  • COUNTRY WINNERS Intesa Sanpaolo (National, 2012)
2011:
  • REGIONAL WINNERS UniCredit Group (National, 2011)
  • COUNTRY WINNERS Intesa Sanpaolo (2011)
2010:
  • REGIONAL WINNERS UniCredit (National, 2010)
  • COUNTRY WINNERS Intesa Sanpaolo (National, 2010)
2009:
  • REGIONAL WINNERS UniCredit (Central and Eastern Europe, 2009)
  • COUNTRY WINNERS Intesa Sanpaolo (National, 2009)

WORLD'S BEST DEVELOPED MARKET BANKS

(ranking of the 50 safest banks in the world; the first is the safest)
2012:
  • Intesa Sanpaolo (Asia Pacific and Middle East, 2012)
2011:
  • UniCredit (National, 2011)
2010:
  • Intesa Sanpaolo (National, 2010)
2009:
  • Intesa Sanpaolo (Central and Eastern Europe, 2009)

WORLD'S BEST SUPPLY CHAIN FINANCE PROVIDERS

2011:
  • REGIONAL WINNERS UniCredit (National, 2011)
2010:
  • REGIONAL WINNERS UniCredit (Central and Eastern Europe, 2010)

WORLD'S BEST INTERNET BANKS

2012:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2012)
2011:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2011)
2010:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2010)
2009:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (Global, 2009)

WORLD'S SAFEST BANKS

2011:
  • OVERALL SAFEST Cassa Depositi e Prestiti (National, 2011)
  • OVERALL SAFEST Intesa Sanpaolo (National, 2011)
2010:
  • OVERALL SAFEST Intesa Sanpaolo (National, 2010)
2009:
  • OVERALL SAFEST InteS.A. S.A.npaolo (National, 2009)

WORLD'S BEST SUB CUSTODIANS

2012:
  • COUNTRY WINNERS Intesa Sanpaolo (Masaaki Shirakawa, 2012)
2011:
  • REGIONAL WINNERS UniCredit (National, 2011)
  • COUNTRY WINNERS Intesa Sanpaolo (National, 2011)
2010:
  • REGIONAL WINNERS UniCredit (National, 2010)
  • COUNTRY WINNERS Intesa Sanpaolo (National, 2010)
2009:
  • COUNTRY WINNERS Intesa Sanpaolo (Global, 2009)

WORLD'S BEST INVESTMENT BANKS

2013:
  • DEALS OF THE YEAR / Best Debt Deal Ministero dell ’Economia e delle Finanze (€18 billion) (Global, 2013)
  • DEALS OF THE YEAR / Bookrunners/Lead Managers Monte dei Paschi (Global, 2013)
  • DEALS OF THE YEAR / Bookrunners/Lead Managers UniCredit (Global, 2013)
  • COUNTRY WINNERS Mediobanca (National, 2013)
2012:
  • COUNTRY WINNERS Intesa San Paolo (National, 2012)
2011:
  • COUNTRY WINNERS Mediobanca (Asia, 2011)
2010:
  • COUNTRY WINNERS Mediobanca (Masaaki Shirakawa, 2010)
2009:
  • COUNTRY WINNERS Mediobanca (Global, 2009)

CENTRAL BANKER REPORT CARD

2010:

WORLD'S BIGGEST BANKS

2012:
  • OVERALL BIGGEST UniCredit (National, 2012)
  • OVERALL BIGGEST Intesa Sanpaolo (National, 2012)
2011:
  • OVERALL BIGGEST UniCredit (National, 2011)
  • OVERALL BIGGEST Intesa Sanpaolo (National, 2011)
2010:
  • OVERALL BIGGEST UniCredit (2010)
  • OVERALL BIGGEST Intesa Sanpaolo (National, 2010)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2013:
  • COUNTRY WINNERS UniCredit (National, 2013)
2012:
  • COUNTRY WINNERS UniCredit (2012)
2011:
  • COUNTRY WINNERS UniCredit (National, 2011)
2010:
  • COUNTRY WINNERS UniCredit (Global, 2010)
2009:
  • COUNTRY WINNERS UniCredit (National, 2009)
  • REGIONAL WINNERS UniCredit (Global, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE