Italy

Description of Italy

Italy is a country deeply rooted in history, culture, and innovation. Known for its rich artistic heritage, mouth-watering cuisine, and picturesque landscapes, Italy stands as a beacon of European civilization. Beyond its iconic landmarks and world-renowned cities, Italy boasts a diverse economy with strengths in industries such as fashion, automotive manufacturing, and tourism. With a blend of tradition and modernity, Italy continues to play a significant role in shaping global trends and developments. Join us as we delve into the intricate tapestry of Italy's economic landscape and explore the factors that drive this fascinating nation forward.

Population And Age Structure

Italy's total population of 59,438,851 is above the average of 40,097,746. Italy ranks 24th out of 194 countries in total population.

The percentage of population aged 0-14 in Italy is 12.86%, below the average of 27.34%. Italy ranks 190th out of 194 countries in this age group.

Italy's total population aged 0-14 is 7,642,651, below the average of 10,327,380. Italy ranks 55th out of 194 countries in this category.

With 63.77% of the total population aged 15-64, Italy is just slightly above the average of 63.44%. Italy ranks 111th out of 194 countries in this age group.

The percentage of the population aged 65 and above in Italy is 23.37%, significantly above the average of 9.22%. Italy ranks 3rd out of 194 countries in this age group.

Italy's total population aged 65 and above is 13,892,091, well above the average of 3,766,959. Italy ranks 10th out of 194 countries in this category.

Summary

Italy has a total population above the global average, with a higher proportion of elderly citizens compared to the average. This demographic composition, with a significant percentage of the population aged 65 and above, could have implications for healthcare systems, pension funds, and overall economic productivity in Italy.

Population Miscellaneous

Italy's rural population stands at 17,214,086, which is below the attribute average of 18,044,041. Italy ranks 33 out of 190 countries in this category.

With a rural population (% of total population) of 28.961%, Italy is below the attribute average of 41.158%. The country ranks 126 out of 190 countries in this aspect.

Italy's urban population is 42,224,765, significantly higher than the attribute average of 22,425,747. Italy ranks 20 out of 194 countries in urban population.

Regarding urban population (% of total population), Italy's value of 71.039% surpasses the average of 59.691%. Italy holds the 69th rank out of 194 countries.

Italy's age dependency ratio (% of working-age population) is 56.81%, slightly below the average of 59.22%. The country ranks 84 out of 194 in this aspect.

Italy's crude birth rate of 6.8 per 1,000 people is significantly lower than the average of 19.38. Italy ranks 189 out of 192 countries in this category.

With a crude death rate of 12.5 per 1,000 people, Italy surpasses the average of 8.21. The country holds the 18th rank out of 192 countries in this metric.

Italy's total fertility rate of 1.24 births per woman is below the attribute average of 2.60. Italy's rank in this category is 184 out of 190 countries.

Summary

Italy's rural population, rural population (% of total population), and total fertility rate are below global averages, indicating a shift towards urbanization and potentially decreasing birth rates. Italy also has a lower crude birth rate and higher crude death rate compared to the global average, suggesting an aging population and potential demographic challenges. These indicators are important as they highlight Italy's demographic structure, sustainability of its population growth, and potential future economic challenges related to an aging population.

Military

Italy's military expenditure of 32,929,093,810.56 USD is significantly above the average of 12,904,993,617.17 USD, ranking 11th out of 149 countries.

The percentage of GDP spent on military by Italy is 1.74%, slightly below the average of 1.90%. Italy ranks 62nd out of 148 countries in this aspect.

Italy's arms imports of 201,000,000 USD are below the average of 205,522,123.89 USD, placing it in 26th position out of 113 countries.

With arms exports amounting to 848,000,000 USD, Italy exceeds the average of 705,705,882.35 USD, ranking 6th out of 34 countries.

Italy's total armed forces personnel of 338,000 surpass the average of 165,908, ranking 20th out of 164 countries.

Having 1.35% of its total labor force as armed forces personnel, Italy is slightly above the average of 1.28%, placing it 46th out of 164 countries.

Summary

Italy's military expenditure, arms exports, and total armed forces personnel are all above global averages, indicating a significant investment in defense capabilities. However, the percentage of GDP spent on the military is slightly below average. These indicators highlight Italy's substantial military presence and industry, showcasing both its commitment to defense and potential economic implications of such expenditures.

Natural Resources

Italy has a Forest area of 95,661.3 sq. km, which is below the average of 211,606.11 sq. km, ranking 55th out of 191 countries in the dataset.

With a Land area of 295,717 sq. km, Italy falls below the average of 665,166.51 sq. km, placing 72nd out of 194 countries included in the data.

Italy's Surface area of 302,068 sq. km is also below the average of 689,779.56 sq. km, ranking 71st out of 194 countries.

For Arable land, Italy has 7,199,414 hectares, slightly below the average of 7,329,543.16 hectares, and ranks 35th out of 190 countries.

When it comes to Land under cereal production, Italy's 3,011,730 hectares are below the average of 4,206,011.63 hectares, placing it 45th out of 174 countries.

Italy receives an Average precipitation of 832 mm per year, which is lower than the average of 1,157.83 mm per year, ranking 102nd out of 178 countries.

With Renewable internal freshwater resources totaling 182.5 billion cubic meters, Italy is below the average of 240.41 billion cubic meters, ranking 38th out of 178 countries in the dataset.

Summary

Italy's land and natural resource indicators, such as forest area, arable land, and renewable internal freshwater resources, are below global averages and rank modestly among countries. These statistics are crucial as they reflect Italy's environmental capacity, agricultural potential, and water sustainability compared to other nations, highlighting areas for potential development and resource management improvements.

Resource Rents

Italy's total natural resources rents account for 0.056% of its GDP, significantly below the average of 4.630%. This places Italy at rank 153 out of 175 countries for this attribute.

Italy's forest rents make up 0.010% of its GDP, well below the average of 1.526%. Italy ranks 152 out of 174 countries in this aspect.

In terms of oil rents, Italy's value is 0.040% of its GDP, much lower than the average of 2.505%. Italy ranks 78 out of 117 countries for oil rents.

Italy's natural gas rents represent 0.006% of its GDP, significantly under the average of 1.253%. This places Italy at rank 74 out of 96 countries for natural gas rents.

Summary

Italy's total natural resources rents, forest rents, oil rents, and natural gas rents all fall below global averages, placing the country at relatively low ranks compared to other nations. This indicates a potential lack of resource abundance and exploitation opportunities in Italy's economy. As natural resources are often key drivers of economic growth and development, Italy may face challenges in leveraging these assets for revenue generation, infrastructure development, and overall economic competitiveness.

Commodities

Italy's cereal production of 16,945,440 metric tons is slightly below the average of 17,249,945.93 metric tons, ranking 30th out of 174 countries.

Aquaculture production in Italy is significantly lower than the average, with 125,790.26 metric tons compared to the average of 679,642.92 metric tons, ranking 34th out of 180 countries.

Italy's capture fisheries production of 141,207.22 metric tons falls below the average of 467,453.06 metric tons, placing Italy at the 67th rank out of 190 countries.

The total fisheries production in Italy is also below average at 266,997.48 metric tons compared to the average of 1,153,914.85 metric tons, ranking 50th out of 182 countries.

Italy's fertilizer consumption of 129.28 kilograms per hectare of arable land is below the average of 159.04 kilograms per hectare, positioning Italy at the 78th rank out of 187 countries.

Summary

Italy's agricultural sector faces challenges as it falls below average in key production metrics such as cereal, aquaculture, and fisheries. Additionally, the country's lower-than-average fertilizer consumption indicates potential limitations in maximizing agricultural productivity. These findings are crucial as they highlight areas where Italy may need to focus on improving efficiency and competitiveness within the global market to enhance its economic development and food security.

Intellectual Property

Italy's industrial design applications by nonresidents are below the average of 1415.83, ranking 53rd out of 112 countries in the dataset.

For industrial design applications by residents, Italy exceeds the average of 9799.58, ranking 6th out of 113 countries.

Italy's patent applications by nonresidents are significantly below the average of 6538.40, ranking 32nd out of 129 countries.

In terms of patent applications by residents, Italy falls below the average of 19037.56, ranking 11th out of 117 countries.

Italy's trademark applications by nonresidents are also below average at 15878.93, ranking 38th out of 130 countries.

For trademark applications by residents, Italy is below the average of 111055.78, ranking 14th out of 129 countries.

Italy's scientific and technical journal articles production is well above the average of 15103.76, ranking 8th out of 192 countries.

Regarding charges for the use of intellectual property (BoP, current US$), Italy's payments are significantly above the average of 3218843494.39, ranking 20th out of 143 countries.

On the other hand, Italy's receipts for the use of intellectual property are also above average at 3191687117.58, ranking 15th out of 122 countries.

Italy's number of researchers in R&D per million people is slightly above the average of 2556.45, ranking 28th out of 72 countries.

Summary

Italy displays a mixed performance across key macroeconomic indicators related to innovation and intellectual property. While excelling in scientific and technical journal articles production, the country lags behind in patent applications by both residents and nonresidents. Italy's above-average payments for the use of intellectual property suggest a strong reliance on foreign intellectual assets. These indicators are crucial as they reflect Italy's innovation capacity, competitiveness in the global market, and the effectiveness of its intellectual property rights protection.

Broad Economy Attributes

Italy's GDP (current US$) is $1,897,461,635,591.91, significantly above the average of $442,870,224,838.68, ranking 8th out of 189 countries.

Italy's GDP, PPP (current international $) stands at $2,627,330,094,323.51, well above the average of $734,141,122,350.78, ranking 11th out of 181 countries.

Italy's GDP per capita (current US$) is $31,922.92, higher than the average of $15,462.11, placing it 29th out of 190 countries.

Italy's GDP per capita, PPP (current international $) is $44,202.24, above the average of $21,251.89, ranking 29th out of 181 countries.

Italy's GNI (current US$) amounts to $1,921,655,176,693.23, significantly surpassing the average of $452,040,815,370.70, ranking 8th out of 185 countries.

Italy's GNI, PPP (current international $) stands at $2,660,829,806,481.82, well above the average of $730,698,223,823.47, ranking 11th out of 181 countries.

Italy's GNI per capita, PPP (current international $) is $44,770, higher than the average of $20,615.75, placing it 27th out of 181 countries.

Summary

Broad Value Added

Italy's Gross value added at basic prices (GVA) is $1,716,561,758,052.61, ranking 7th out of 176 countries. This is significantly above the average GVA of $360,070,943,595.12.

Italy's Agriculture, forestry, and fishing value added (% of GDP) is 2.01%, ranking 147th out of 182 countries. This percentage is below the average of 10.86%.

Italy's Agriculture, forestry, and fishing value added is $38,104,575,951.44, ranking 18th out of 182 countries. It surpasses the average value of $19,924,732,828.07.

Italy's Services value added (% of GDP) stands at 66.90%, above the average of 56.72%. Italy ranks 36th out of 183 countries.

Italy's Services value added in current US$ is $1,269,384,785,563.43, ranking 8th out of 183 countries. This value is notably higher than the average of $295,837,711,130.69.

Italy's Industry (including construction) value added is $409,072,396,537.74, ranking 10th out of 183 countries. This exceeds the average of $118,421,095,413.50.

Summary

Italy demonstrates a strong performance in terms of Gross Value Added (GVA), with a figure of $1,716,561,758,052.61, ranking 7th globally. Its Services sector contributes significantly to its economy, standing at 66.90% of GDP and $1,269,384,785,563.43 in current US$, both figures exceeding the global averages. However, the country's Agriculture, forestry, and fishing sector lags behind, with a value added of 2.01% of GDP, ranking 147th. These indicators are vital as they showcase Italy's economic diversification and areas that may require further development to enhance overall economic stability and growth.

Manufacturing Value Added

- Manufacturing, value added (current US$): Italy's value of $276,922,933,783.35 is significantly higher than the average of $76,207,179,589.66. Italy ranks 7th out of 173 countries.

- Manufacturing, value added (% of GDP): Italy's value of 14.59% is higher than the average of 11.90%. Italy ranks 54th out of 173 countries.

- Medium and high-tech manufacturing value added (% manufacturing value added): Italy's value of 42.35% is notably higher than the average of 24.49%. Italy ranks 24th out of 149 countries.

- Chemicals (% of value added in manufacturing): Italy's value of 9.81% is below the average of 11.56%. Italy ranks 43rd out of 89 countries.

- Food, beverages and tobacco (% of value added in manufacturing): Italy's value of 12.43% is lower than the average of 24.51%. Italy ranks 73rd out of 92 countries.

- Machinery and transport equipment (% of value added in manufacturing): Italy's value of 29.28% is higher than the average of 16.85%. Italy ranks 17th out of 93 countries.

- Textiles and clothing (% of value added in manufacturing): Italy's value of 7.94% is higher than the average of 6.33%. Italy ranks 23rd out of 93 countries.

- Other manufacturing (% of value added in manufacturing): Italy's value of 40.53% is slightly below the average of 42.13%. Italy ranks 48th out of 94 countries.

Summary

Italy excels in medium and high-tech manufacturing, machinery, and transport equipment production, positioning itself competitively on a global scale. However, there is untapped potential in the chemicals and food, beverages, and tobacco sectors where Italy lags behind the global average. Diversifying and strengthening these industries could lead to increased economic resilience and competitiveness for Italy in the international market.

Money

Italy's consumer price inflation rate stands at -0.14%, significantly lower than the average of 8.26%. With a rank of 138 out of 165 countries, Italy's inflation rate is one of the lowest among the dataset.

Regarding GDP deflator inflation, Italy's rate is 1.58%, below the average of 6.90%. This places Italy at the 109th position out of 188 countries, indicating a relatively moderate inflation level compared to other nations in the dataset.

Summary

Italy exhibits lower consumer price inflation at -0.14% and GDP deflator inflation at 1.58% compared to the dataset averages of 8.26% and 6.90% respectively. This positions Italy with relatively low inflation rates globally. The significance of these figures lies in Italy's potential price competitiveness, stable purchasing power for consumers, and the country's macroeconomic stability in comparison to other nations.

Consumption Expenditure

Italy's final consumption expenditure amounts to $1,493,310,048,330.74, which is significantly above the average of $381,630,252,515.38, ranking 8th out of 159 countries in the dataset.

The country's final consumption expenditure as a percentage of GDP is 78.70%, slightly below the average of 82.37%, placing Italy at rank 89 out of 159 countries.

Italy's general government final consumption expenditure stands at $392,331,799,266.93, substantially higher than the average of $93,676,578,238.03, ranking 7th out of 158 countries.

With general government final consumption expenditure at 20.68% of GDP, Italy surpasses the average of 18.71%, securing the 52nd rank out of 158 countries.

The country's household and NPISHs final consumption expenditure is $1,100,978,249,063.82, well above the average of $290,127,571,157.69, ranking 8th out of 158 countries.

Italy's households and NPISHs final consumption expenditure as a percentage of GDP is 58.02%, lower than the average of 63.68%, placing Italy at rank 99 out of 158 countries in the dataset.

Summary

In summary, Italy has a high final consumption expenditure compared to the global average, ranking 8th in total final consumption expenditure and household consumption. However, the country's final consumption expenditure as a percentage of GDP falls slightly below the average, indicating potential room for increased economic efficiency and investment in other sectors. These indicators are important as they reflect Italy's domestic demand, government spending, and economic structure relative to other countries, providing insights into its economic health and development priorities.

Equities

Italy's S&P Global Equity Indices had an annual % change of 2.68%, which is above the attribute average of 2.06%. This places Italy at rank 36 out of 79 countries included in the data.

Summary

Italy's S&P Global Equity Indices saw a positive annual % change of 2.68%, surpassing the attribute average of 2.06%. This places Italy at rank 36 out of 79 countries analyzed. These findings indicate that Italy's equity market performance is relatively strong compared to other nations, potentially reflecting positive economic growth, investor confidence, and overall market stability.

Investment

Italy's foreign direct investment (FDI) net inflows stand at -17.05 billion USD, significantly below the average of 5.75 billion USD. Italy ranks 178th out of 182 countries for this attribute.

Italy's FDI net outflows are at 4.74 billion USD, slightly lower than the average of 5.71 billion USD. Italy ranks 26th out of 156 countries for this attribute.

Foreign direct investment net inflows as a percentage of GDP in Italy is at -0.90%, which is below the average of 2.61%. Italy ranks 160th out of 178 countries for this measure.

Italy's FDI net outflows as a percentage of GDP are at 0.25%, lower than the average of 1.00%. Italy ranks 73rd out of 155 countries regarding this indicator.

Italy's portfolio investment net is remarkably high at 130.21 billion USD, well above the average of 0.68 billion USD. Italy ranks 2nd out of 159 countries for this key financial metric.

For portfolio equity net inflows, Italy has -3.14 billion USD, below the average of 9.20 billion USD. Italy ranks 110th out of 125 countries in this category.

Summary

Italy demonstrates a significant disparity in its foreign direct investment (FDI) net inflows and outflows compared to global averages, ranking poorly for both metrics. However, the country excels in portfolio investment net, ranking 2nd globally, despite lagging behind in portfolio equity net inflows. These indicators are crucial as they reflect Italy's attractiveness to foreign investors, its investment patterns, and its financial market strength, providing insights into the country's economic stability and potential for growth.

Broad Trade Attributes

Trade (% of GDP): Italy's trade value is 55.27% of its GDP, below the average of 82.34%. With a rank of 111 out of 163 countries, Italy is positioned in the lower range for this indicator.
Merchandise trade (% of GDP): Italy's merchandise trade is at 48.84% of its GDP, below the average of 60.01%. Ranking 102 out of 186 countries, Italy is performing slightly below the average in this aspect.
Trade in services (% of GDP): Italy's trade in services stands at 9.49% of its GDP, significantly below the average of 24.63%. With a rank of 124 out of 171 countries, Italy lags behind in this category.
External balance on goods and services (current US$): Italy's balance is $68,286,765,471.60, substantially higher than the average of $3,405,509,011.13. Italy holds the 8th position out of 163 countries, indicating a strong performance in this area.
External balance on goods and services (% of GDP): Italy's balance as a percentage of GDP is 3.60%, above the average of -5.97%. Ranked 38th out of 163 countries, Italy showcases a positive external balance relative to its GDP.

Summary

Italy's trade sector is characterized by a trade value and merchandise trade below global averages, with a notable lag in trade in services. However, Italy's strong external balance on goods and services, both in absolute terms and as a percentage of GDP, positions the country as a significant player in the global market, ranking competitively against other nations.

These indicators are crucial as they reflect Italy's economic openness and competitiveness in the international trade arena. The positive external balance signifies that Italy is effectively managing its trade relationships, potentially indicating a stable economy with strong export capabilities.

Net Trade

Current account balance (BoP, current US$): Italy's current account balance of 75,096,663,920.9716 is significantly above the average of 1,443,864,831.49. This places Italy at rank 5 out of 170 countries included in the data.

Current account balance (% of GDP): With a value of 3.96%, Italy's current account balance as a percentage of GDP is above the average of -2.36%. Italy ranks 33 out of 170 countries in this metric.

Net trade in goods and services (BoP, current US$): Italy's net trade value of 69,265,580,610.0111 is well above the average of 2,604,730,003.57. This places Italy at rank 7 out of 171 countries.

Net primary income (BoP, current US$): Italy's net primary income is significantly higher at 24,540,579,339.5196 compared to the average of -903,807,529.74. Italy is ranked 6 out of 170 countries in this category.

Net secondary income (BoP, current US$): Italy's net secondary income is below the average at -18,708,211,644.54. Italy ranks 164 out of 170 countries for this attribute.

Net trade in goods (BoP, current US$): Italy's net trade in goods value is significantly higher at 78,587,904,913.843 compared to the average of 1,302,831,005.68. Italy is ranked 7 out of 171 countries for this metric.

Net capital account (BoP, current US$): Italy's net capital account value is above the average at 1,249,025,593.3711. Italy holds the 11th rank out of 159 countries for this attribute.

Net financial account (BoP, current US$): Italy's net financial account value of 84,483,657,675.695 is well above the average of -469,840,994.63. Italy ranks 4 out of 170 countries for this specific metric.

Summary

Italy showcases strong economic performance in terms of its current account balance, net trade in goods and services, net primary income, and net financial account. These indicators reveal Italy's significant trade surplus, positive income flows, and strong financial position compared to global averages. Such robust economic performance is crucial for Italy's overall economic stability, growth, and ability to attract investments from abroad.

Broad Export Attributes

Italy's Exports of goods, services and primary income amount to $637.81 billion, ranking 11 out of 170 countries. This is significantly above the average of $146.24 billion for this attribute.

Italy's Exports of goods and services total $559.95 billion, also ranking 11 out of 170 countries. This value is notably higher than the average of $122.94 billion.

Italy's Exports of goods and services (BoP) are $558.47 billion, ranking it 11 out of 163 countries. This figure exceeds the average of $129.60 billion for this attribute.

Italy's Exports of goods and services as a percentage of GDP stand at 29.43%, placing it at rank 86 out of 163 countries. This percentage is below the average of 38.19%.

Italy's Goods exports are valued at $474.60 billion, ranking 8 out of 171 countries. This is significantly higher than the average of $93.31 billion.

Italy's International tourism receipts account for 3.65% of total exports, ranking it 57 out of 120 countries. This percentage is below the average of 9.74% for this attribute.

Italy's ICT goods exports as a percentage of total goods exports stand at 2.20%, placing it at rank 43 out of 142 countries. This percentage is below the average of 3.81%.

Summary

Italy stands out globally with its robust exports performance, ranking highly in various categories such as total exports, goods exports, and international tourism receipts. Despite its strong export figures, Italy's exports as a percentage of GDP are slightly lower than the global average, signaling potential room for growth in leveraging its export potential to drive economic development and prosperity.

Merchandise Exports

Italy's merchandise exports amount to $499.79 billion, ranking 7th out of 187 countries in the dataset, significantly exceeding the average of $89.54 billion.

Italy's agricultural raw materials exports account for 0.72% of its merchandise exports, ranking 100th out of 151 countries, well below the average of 2.97%.

Food exports constitute 10.66% of Italy's merchandise exports, placing it at 99th out of 152 countries, below the average of 24.06%.

Italy's fuel exports represent 2.14% of its merchandise exports, ranking 88th out of 147 countries, significantly lower than the average of 13.70%.

Ores and metals exports constitute 2.37% of Italy's merchandise exports, placing it at 90th out of 152 countries, below the average of 9.10%.

Italy's residual merchandise exports account for 1.36% of total merchandise exports, ranking 53rd out of 166 countries, below the average of 3.20%.

Summary

Italy's export profile showcases a diverse range of products, with significant strengths in merchandise exports overall. However, the country underperforms in agricultural raw materials, food, fuel, and ores and metals exports compared to global averages. This highlights potential areas for Italy to focus on in order to enhance its export competitiveness and diversification, ensuring sustainable economic growth and resilience against market fluctuations.

Technology Exports

Italy's Manufactures exports account for 80.74% of its merchandise exports, which is above the average of 42.62%. Italy ranks 19th out of 152 countries in this attribute data.

The value of High-technology exports in Italy is $32,892,825,253, significantly higher than the average of $16,655,934,078. Italy ranks 18th out of 151 countries in this data set.

Italy's High-technology exports as a percentage of manufactured exports stand at 8.59%, below the average of 10.15%. This places Italy at 61st out of 150 countries.

Italy's Medium and high-tech exports as a percentage of manufactured exports are 55.32%, higher than the average of 34.29%. Italy ranks 39th out of 149 countries in this category.

Summary

Italy excels in manufactures exports as they contribute significantly to its total merchandise exports, ranking 19th globally. The country also stands out in the value of high-technology exports, ranking 18th, showcasing its innovation and competitiveness in this sector. However, Italy's percentage of high-technology exports relative to manufactured exports is below average, indicating potential for growth and further technological advancements. The high percentage of medium and high-tech exports compared to manufactured exports demonstrates Italy's strength in producing and exporting advanced technological goods, which is crucial for economic diversification and resilience.

Service Exports

Italy's service exports amount to $85.35 billion, ranking 17th out of 171 countries in the dataset. This value is significantly above the average service export value of $28.92 billion.

Italy's ICT service exports stand at $8.84 billion, ranking 20th out of 166 countries. This value is above the average ICT service export value of $4.58 billion.

ICT service exports account for 10.36% of Italy's total service exports, placing Italy 68th out of 166 countries. This percentage is below the average of 11.75%.

Italy's communications, computer, etc. services represent 54.63% of its total service exports, ranking 61st out of 169 countries. This value is higher than the average of 45.85%.

Transport services make up 11.42% of Italy's service exports, placing Italy 108th out of 169 countries. This percentage is below the average of 21.80%.

Italy's travel services constitute 23.31% of its service exports, ranking Italy 71st out of 167 countries. This value is slightly below the average of 26.40%.

Italy's insurance and financial services in its service exports account for 10.64%, placing Italy 31st out of 161 countries. This percentage is above the average of 6.46%.

Summary

Italy performs well in service exports, ranking above average in various categories such as ICT services, communications, computer services, and insurance/financial services. However, it lags in the contribution of ICT services to its total service exports and the share of transport services in its export portfolio. These findings are important as they highlight Italy's strengths and weaknesses in different service sectors, providing insights for policymakers and businesses to focus on enhancing competitiveness and diversifying export offerings.

Commercial Service Exports

Italy's commercial service exports amount to $84.7 billion, ranking 17th out of 171 countries. This value is significantly above the average of $28.5 billion.

Italy's travel services as a percentage of commercial service exports stand at 23.48%, below the average of 27.89%. Italy ranks 78th out of 167 countries in this aspect.

In the category of computer, communications, and other services as a percentage of commercial service exports, Italy's value is 54.29%, which is notably higher than the average of 42.44%. Italy ranks 58th out of 169 countries.

Italy's insurance and financial services as a percentage of commercial service exports are at 10.72%, surpassing the average of 6.97%. Italy holds the 33rd position out of 161 countries.

For transport services as a percentage of commercial service exports, Italy records 11.51%, falling below the average of 23.37%. Italy ranks 112th out of 169 countries in this metric.

Summary

Italy excels in commercial service exports, surpassing the global average significantly. Its strengths lie in computer, communications, and other services, as well as insurance and financial services, where it outperforms the average. However, Italy lags behind in travel and transport services compared to the global average. These indicators are crucial as they showcase Italy's economic specialization and areas where it can potentially enhance its competitive edge in the international market.

Broad Import Attributes

- Italy's Imports of goods and services (current US$) amount to $490.18 billion, ranking 12th out of 163 countries. This value exceeds the average of $126.19 billion.

- The Imports of goods and services (% of GDP) in Italy stand at 25.83%, ranking 125th out of 163 countries. This percentage is below the average of 44.15%.

- Italy's International tourism expenditures (% of total imports) are 2.64%, ranking 77th out of 131 countries. This value is lower than the average of 3.98%.

- In terms of ICT goods imports (% of total goods imports), Italy reports 5.71%, ranking 64th out of 143 countries. This percentage falls below the average of 6.85%.

- Italy's Goods imports (BoP, current US$) are valued at $396.01 billion, ranking 10th out of 171 countries. This value significantly surpasses the average of $92.01 billion.

- With the Imports of goods and services (BoP, current US$) totaling $490.68 billion, Italy ranks 12th out of 170 countries. This amount exceeds the average of $120.32 billion.

- Italy's Imports of goods, services, and primary income (BoP, current US$) amount to $544.00 billion, ranking 14th out of 170 countries. This figure significantly exceeds the average of $144.51 billion.

Summary

Italy's import sector plays a significant role in its economy, with the country ranking high globally in terms of both the value and percentage of imports compared to GDP. Despite being below average in some specific import categories such as tourism expenditures and ICT goods, Italy's overall import figures are above average, indicating a strong reliance on international trade to meet domestic demands and support economic growth.

Merchandise Imports

Italy's merchandise imports amount to $426.87 billion, ranking 9th out of 190 countries. This value significantly exceeds the attribute average of $89.39 billion.

Italy's manufactures imports account for 70.38% of its merchandise imports, ranking 58th out of 152 countries. It is slightly above the attribute average of 66.76%.

Italy's agricultural raw materials imports constitute 1.73% of its merchandise imports, ranking 32nd out of 152 countries. This value is higher than the attribute average of 1.27%.

Italy's food imports represent 11.12% of its merchandise imports, placing it 109th out of 152 countries. This proportion is below the attribute average of 15.89%.

Italy's fuel imports make up 8.44% of its merchandise imports, ranking 99th out of 152 countries. This value falls below the attribute average of 11.38%.

Italy's ores and metals imports account for 4.92% of its merchandise imports, ranking 20th out of 152 countries. It significantly surpasses the attribute average of 2.57%.

Italy's merchandise imports by the reporting economy residual stand at 0.42%, ranking 88th out of 180 countries. It is below the attribute average of 2.51%.

Summary

Italy has a notable position in the global market with its high value of merchandise imports, particularly led by the significant share of manufactured goods. While the country's reliance on agricultural raw materials is relatively low, it stands out for its higher-than-average imports of ores and metals. These indicators are crucial as they reveal Italy's trade dynamics, economic diversification, and industrial strengths within the global supply chain.

Service Imports

Italy's service imports amount to $94.67 billion, ranking 16th out of 171 countries, significantly above the average of $27.62 billion. Communications, computer, etc. account for 53.44% of Italy's service imports, which is higher than the average of 44.40%, placing Italy 60th out of 169 countries. Transport services, at 19.88% of service imports, are below the average of 32.90%, placing Italy 130th out of 169 countries. Italy's travel services, representing 11.48% of service imports, are also below average (14.14%), ranking 81st out of 169 countries. Furthermore, Italy's insurance and financial services in service imports, comprising 15.21%, exceed the average of 8.53%, ranking 22nd out of 169 countries.

Summary

Italy's service imports are substantial, with a focus on communications, computer services, and insurance/financial services. However, the lower proportion of transport and travel services in the import mix indicates potential areas for growth or optimization to enhance the country's overall service import portfolio and potentially boost the economy.

Commercial Service Imports

For Commercial service imports (current US$), Italy's value of $93,465,424,753.25 is notably above the average of $27,102,746,128.60. Italy ranks 16th out of 171 countries in this attribute.

Italy's Computer, communications and other services (% of commercial service imports) value of 52.84% is higher than the average of 41.71%. Italy ranks 57th out of 169 countries in this category.

Italy's Insurance and financial services (% of commercial service imports) value of 15.40% is well above the average of 8.85%. Italy ranks 24th out of 169 countries in this attribute.

For Transport services (% of commercial service imports), Italy's value of 20.13% is below the average of 34.71%. Italy ranks 131st out of 169 countries in this specific category.

In Travel services (% of commercial service imports), Italy's value of 11.63% is below the average of 14.73%. Italy ranks 83rd out of 169 countries in this attribute.

Summary

Italy stands out in its Commercial service imports with a value significantly higher than the average, ranking 16th globally. The country's emphasis on Computer, communications, and other services as well as Insurance and financial services further showcases its strength, ranking 57th and 24th respectively. However, challenges lie in the Transport services and Travel services categories where Italy ranks 131st and 83rd, indicating areas that may require attention for further development.

These findings are important as they provide insights into Italy's economic structure and specialization in different service sectors. They highlight both strengths to leverage and areas to improve upon for enhancing competitiveness and sustainability in the global market.

Infrastructure

Italy's railways carried 22,269 million passenger-km, ranking 8th out of 64 countries. This figure is below the attribute average of 32,281.92 million passenger-km.

For the transportation of goods by railways, Italy transported 20,750 million ton-km, ranking 16th out of 62 countries. This value is significantly below the attribute average of 119,231.19 million ton-km.

Italy's air freight transport stood at 978.76 million ton-km, ranking 23rd out of 126 countries. This is below the attribute average of 1384.37 million ton-km.

With 99,250 registered carrier departures worldwide, Italy's rank is 32nd out of 149 countries. This value is below the attribute average of 134,365.61 departures.

Italy carried 7,801,490 air passengers, ranking 36th out of 149 countries. This falls below the attribute average of 11,848,242.70 passengers carried.

Italy handled 10,696,962 TEUs in container port traffic, ranking 16th out of 110 countries. This volume exceeds the attribute average of 6,907,110.27 TEUs.

With a total of 17,255.6 railway lines, Italy ranks 11th out of 66 countries. This is above the attribute average of 12,204.74 total route-km.

Summary

Italy's transportation sector performs below the attribute averages in terms of railways passenger-km, railways goods transport, air freight transport, registered carrier departures, and air passengers carried, while exceeding the average in container port traffic and railway lines. These indicators are crucial as they provide insights into the efficiency, connectivity, and competitiveness of Italy's transportation infrastructure compared to other countries, highlighting areas that may require improvement to enhance the country's logistics capabilities and trade facilitation.

Information Technology Infrastructure

Italy has 1,229,028 secure internet servers, which is significantly higher than the average of 458,294. Italy ranks 11th out of 193 countries in this attribute data.

With 20,677.18 secure internet servers per 1 million people, Italy surpasses the average of 14,067.17. It holds the 38th rank out of 193 countries in this aspect.

70.48% of Italy's population uses the internet, slightly higher than the average of 64.77%. Italy ranks 99th out of 180 countries in this indicator.

Italy boasts 18,128,787 fixed broadband subscriptions, far exceeding the average of 6,591,956. Italy is ranked 12th out of 185 countries in this category.

With 77,581,048 mobile cellular subscriptions, Italy surpasses the average of 42,526,463. Italy holds the 22nd rank out of 193 countries in this metric.

Summary

Italy outperforms global averages in various key macroeconomic indicators related to internet infrastructure and connectivity, including secure internet servers, internet usage, and broadband subscriptions. These statistics emphasize Italy's strong digital infrastructure and widespread adoption of internet services, positioning the country competitively in the global digital economy.

Energy Consumption

Italy's renewable energy consumption accounts for 18.69% of its total final energy consumption, which is below the average of 32.18%. The country is ranked 111th out of 191 countries in this category.

Regarding CO2 emissions, Italy emits 281,286.8 kt, significantly higher than the average of 171,895.94 kt. Italy ranks 19th out of 188 countries in terms of CO2 emissions.

Summary

Italy's renewable energy consumption percentage is below the global average, ranking relatively low among countries. In contrast, the country's CO2 emissions are considerably higher than the average, placing Italy in a notable position globally for emissions. These statistics are crucial indicators of Italy's progress towards sustainable energy practices and its environmental impact on a worldwide scale.

Government Balance Sheet

Italy's reserves and related items (BoP, current US$) amount to 4.63 billion, significantly higher than the average of 1.92 billion, ranking 21st out of 171 countries.

Italy's total reserves minus gold (current US$) stand at 61.61 billion, below the average of 74.22 billion, ranking 30th out of 161 countries.

Italy's total reserves (includes gold, current US$) are at 210.69 billion, well above the average of 85.70 billion, ranking 14th out of 161 countries.

Italy's total reserves in months of imports are 4.65, below the average of 7.09, placing Italy at the 93rd rank out of 151 countries.

Summary

Italy's reserves and related items (BoP, current US$) are higher than the global average, ranking 21st globally. However, its total reserves minus gold are below average, placing Italy at the 30th rank. In contrast, Italy's total reserves including gold are well above average, ranking 14th globally. Despite this, Italy's total reserves in months of imports are below average, positioning Italy at the 93rd rank.

These indicators are crucial as they reflect Italy's financial stability and ability to weather economic downturns. Higher reserves indicate a stronger buffer against external shocks, while lower reserves in months of imports may signify potential vulnerability to trade disruptions or economic crises.

Government Revenue

Italy's revenue, excluding grants, accounts for 40.57% of its GDP, which is above the average of 27.02%. This places Italy at rank 11 out of 122 countries in the dataset.

Grants and other revenue make up 6.11% of Italy's total revenue, significantly below the average of 23.54%. Italy ranks 100 out of 108 countries for this metric.

Social contributions in Italy represent 33.53% of its total revenue, which is higher than the average of 22.29%. Italy is ranked 20 out of 81 countries in this category.

Italy's taxes on goods and services constitute 22.64% of its revenue, below the average of 31.82%. Italy shares the 100th rank out of 122 countries for this indicator.

Other taxes in Italy contribute 4.59% to its total revenue, surpassing the average of 2.12%. Italy is ranked 13 out of 106 countries in this aspect.

Italy's taxes on income, profits, and capital gains make up 33.12% of its revenue, higher than the average of 24.66%. Italy holds the 27th rank out of 119 countries for this parameter.

Summary

Italy stands out for its revenue composition compared to global averages. It relies more on social contributions and income-related taxes, while having a lower share of revenue coming from grants, goods, and services. These indicators are crucial as they reflect Italy's fiscal sustainability, economic structure, and potential areas for policy adjustments to optimize revenue generation.

Taxes

Italy's tax revenue as a percentage of GDP stands at 24.76%, which is above the average of 16.72%. This places Italy at the 12th rank out of 123 countries in the dataset.

When it comes to taxes on income, profits, and capital gains as a percentage of total taxes, Italy records 54.87%, significantly higher than the average of 38.40%. This places Italy at the 13th rank out of 120 countries.

Italy's applied weighted mean tariff rate for all products is 1.48%, below the average of 5.21%. Despite this, Italy ranks 125th out of 153 countries in the dataset in this aspect.

Summary

Italy's tax revenue as a percentage of GDP and its taxes on income, profits, and capital gains as a percentage of total taxes are higher than the global averages, positioning Italy among the top percentile in the dataset. However, Italy's applied weighted mean tariff rate for all products is below average, yet its ranking in this aspect is lower compared to other countries in the dataset.

These findings are crucial as they indicate that Italy relies significantly on tax revenue for its fiscal stability, which could impact its economic policies and budget allocation. Additionally, the lower ranking in applied weighted mean tariff rate suggests potential challenges in trade competitiveness and revenue generation through tariffs for Italy.

Government Expenses

Italy's Expense (% of GDP) is 50.42%, which is above the average of 31.69%. Italy ranks 10 out of 123 countries in this attribute.

Compensation of employees (% of expense) in Italy is 12.29%, below the average of 24.70%. Italy is ranked 102 out of 123 countries in this attribute.

Goods and services expense (% of expense) for Italy is 2.93%, below the average of 14.77%. Italy is ranked 119 out of 122 countries in this attribute.

Italy's Interest payments (% of expense) stand at 6.74%, slightly below the average of 6.85%. Italy holds the 49th rank out of 121 countries in this attribute.

Other expense (% of expense) in Italy is 2.38%, below the average of 8.29%. Italy's rank is 106 out of 120 countries in this attribute.

Subsidies and other transfers (% of expense) for Italy is 49.92%, above the average of 43.29%. Italy ranks 42 out of 121 countries in this attribute.

Summary

Italy's macroeconomic indicators reveal that it has a high Expense (% of GDP) compared to the average, leading to a relatively lower ranking in Compensation of employees, Goods and services expense, and Other expense categories. However, Italy's Interest payments (% of expense) are slightly below the average, contributing to a mid-ranking position in this aspect. The country stands out with a significantly higher percentage of Subsidies and other transfers expense, ranking above average.

These findings are crucial as they provide insights into Italy's fiscal priorities and economic structure. The higher Expense (% of GDP) suggests a potentially higher burden on the overall economy, while the allocation of resources towards Subsidies and other transfers may indicate government support programs or strategic investments. The lower rankings in key categories like Compensation of employees and Goods and services expense highlight areas where Italy may need to optimize its spending or policy strategies to enhance economic efficiency and competitiveness.

Top Stats

Ranks in Top Decile For:

Attribute	Rank/Total
Population ages 65 and above (% of total population)	3/194
Population ages 65 and above, total	10/194
Death rate, crude (per 1,000 people)	18/192
Military expenditure (current USD)	11/149
Industrial design applications, resident, by count	6/113
Patent applications, residents	11/117
Scientific and technical journal articles	8/192
GDP (current US$)	8/189
GDP, PPP (current international $)	11/181
GNI (current US$)	8/185
GNI, PPP (current international $)	11/181
Gross value added at basic prices (GVA) (current US$)	7/176
Agriculture, forestry, and fishing, value added (current US$)	18/182
Services, value added (current US$)	8/183
Industry (including construction), value added (current US$)	10/183
Manufacturing, value added (current US$)	7/173
Final consumption expenditure (current US$)	8/159
General government final consumption expenditure (current US$)	7/158
Household and NPISHs Final consumption expenditure (current US$)	8/158
Foreign direct investment, net (BoP, current US$)	6/169
Portfolio Investment, net (BoP, current US$)	2/159
External balance on goods and services (current US$)	8/163
Current account balance (BoP, current US$)	5/170
Net trade in goods and services (BoP, current US$)	7/171
Net primary income (BoP, current US$)	6/170
Net trade in goods (BoP, current US$)	7/171
Net capital account (BoP, current US$)	11/159
Net financial account (BoP, current US$)	4/170
Exports of goods, services and primary income (BoP, current US$)	11/170
Exports of goods and services (BoP, current US$)	11/170
Exports of goods and services (current US$)	11/163
Goods exports (BoP, current US$)	8/171
Merchandise exports (current US$)	7/187
Service exports (BoP, current US$)	17/171
Commercial service exports (current US$)	17/171
Imports of goods and services (current US$)	12/163
Goods imports (BoP, current US$)	10/171
Imports of goods and services (BoP, current US$)	12/170
Imports of goods, services and primary income (BoP, current US$)	14/170
Merchandise imports (current US$)	9/190
Service imports (BoP, current US$)	16/171
Commercial service imports (current US$)	16/171
Secure Internet servers	11/193
Fixed broadband subscriptions	12/185
Total reserves (includes gold, current US$)	14/161
Revenue, excluding grants (% of GDP)	11/122
Tax revenue (% of GDP)	12/123
Expense (% of GDP)	10/123

Ranks in Bottom Decile For:

Attribute	Rank/Total
Population ages 0-14 (% of total population)	190/194
Birth rate, crude (per 1,000 people)	189/192
Fertility rate, total (births per woman)	184/190
Foreign direct investment, net inflows (BoP, current US$)	178/182
Net secondary income (BoP, current US$)	164/170
Grants and other revenue (% of revenue)	100/108
Goods and services expense (% of expense)	119/122