Search results
Results from the WOW.Com Content Network
Italy is the world's seventh-largest manufacturing country, [40] characterised by a smaller number of global multinational corporations than other economies of comparable size and many dynamic small and medium-sized enterprises, notoriously clustered in several industrial districts, which are the backbone of the Italian economy. Italy is a ...
Italy was the first among the countries of Europe to be affected by the COVID-19 pandemic, [87] which in the months after February 2020 expanded to the rest of the world. The economy suffered a very severe shock as a result of the lockdown of most of the country's economic activity. By the end of May 2020, however, the epidemic was under ...
The IMF also warned Italy that the passing of their proposed budget could result in a recession that could last until the mid 2020s. [7] Italy's economy has been in turmoil since 2008 and the IMF predicts that at the current growth rate the anti-EU government will prolong Italy in reaching the economic prosperity it had prior to the collapse.
Italy's great power strength includes a vast advanced economy [15] [16] (in terms of national wealth, net wealth per capita and national GDP), a strong manufacturing industry (ranking 7th on the list of countries by manufacturing output), [17] a large luxury goods market, [18] a large national budget and the third largest gold reserve in the world.
Italy was admitted to the United Nations in 1955, and it is a member and a strong supporter of a wide number of international organisations, such as the Organisation for Economic Co-operation and Development (OECD), the General Agreement on Tariffs and Trade and World Trade Organization (GATT and WTO), the Organization for Security and Co ...
[7] [8] Since China's transition to a socialist market economy through controlled privatisation and deregulation, [9] [10] the country has seen its ranking increase from ninth in 1978, to second in 2010; China's economic growth accelerated during this period and its share of global nominal GDP surged from 2% in 1980 to 18% in 2021.
A developed country with an advanced economy, Italy has the ninth-largest nominal GDP in the world, the second-largest manufacturing industry in Europe, [24] and plays a significant role in regional [25] and global [26] economic, military, cultural, and diplomatic affairs.
Downtown Milan in the 1960s. The Italian economic miracle or Italian economic boom (Italian: il miracolo economico italiano or il boom economico italiano) is the term used by historians, economists, and the mass media [1] to designate the prolonged period of strong economic growth in Italy after World War II to the late 1960s, and in particular the years from 1958 to 1963. [2]