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The economy of Italy is a highly developed social market economy. [31] It is the third-largest national economy in the European Union, the 8th-largest economy in the world by nominal GDP, and the 11th-largest by PPP-adjusted GDP. The country has the second-largest manufacturing industry in Europe, which is also the 7th-largest in the world.
The greatest cases of inequity typically would involve an impoverished and politically unstable country neighbouring a resource-rich and relatively stable one, although neither may be recognised as a high-income economy. As an extreme example, the GDP per capita for Saudi Arabia, is over 42 times greater to that of its neighbour Yemen.
The economy of Ohio nominally would be the 20th largest global economy (behind Turkey and ahead of Switzerland) according to The World Bank as of 2022. [8] The state had a GDP of $822.67 billion in 2022, which is 3.23% of the United States total, [ 9 ] ranking 7th in the nation behind Pennsylvania and ahead of Georgia. [ 10 ]
Italy is considered a high-tax country, with a tax-to-GDP ratio of nearly 43%—well above the OECD average of 34%. However, the issue is the distribution of taxes, which distorts how much some ...
In the recent decades, however, Italy's economic growth has been particularly stagnant, with an average of 1.23% compared to an EU average of 2.28%. Previously, Italy's economy had accelerated from 0.7% growth in 1996 to 1.4% in 1999 and continued to rise to about 2.90% in 2000, which was closer to the EU projected growth rate of 3.10%.
New economic data puts the California economy at $2.747 trillion — bigger than most nations. The ranking puts in fifth in the world, just ahead of the United Kingdom, which is on $2.625 trillion.
Italy will probably balance its primary budget this year, excluding interest payments on government debt, the economy minister said on Friday, as Rome prepares a medium-term fiscal plan for ...
For easy comparison, all the GRDP figures are converted into US$ according to annual average exchange rates. [ 2 ] [ n 1 ] All values are rounded to the nearest hundred. Note: Trentino-Alto Adige has separate values measured for the two self-governing provinces that make up the region—the Province of Trento, commonly known as Trentino , and ...