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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.
If Texas were a country, it would be the ninth biggest economy in the world. Give it another few years, and Texas should surpass Italy to become eighth largest, Gov. Greg Abbott says.
Texas: State United States: North America: 2,695 2024 [1] 30.5 87 England: Constituent country United Kingdom: Europe: 2,674 2022 [2] 57.1 47 New York: State United States: North America: 2,284 2024 [1] 19.6 117 Guangdong: Province China: Asia: 1,920 2022 [3] 126.0 15 Jiangsu: Province China: Asia: 1,827 2022 [3] 84.7 22 Florida: State United ...
Italy: 28,900: 100.00: Provincial GDP. All provinces and metropolitan cities of Italy by GDP and GDP per capita in 2021. [3] Province Region 2021 GDP (in mil. of Euro)
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 ...
Texas counties by GDP in 2021 (chained 2012 US$) The economy of the State of Texas is the second largest by GDP in the United States after that of California. It has a gross state product of $2.694 trillion as of 2023. [7] In 2022, Texas led the nation with the most companies in the Fortune 500 with 53 in total. [8]
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.
The United States helped with the transition from a monarchy to a republic in 1946. Italy had become a valued ally of the United States against the spread of communism in Europe during the Cold War. [18] Italy signed a Peace Treaty with the U.S. and Britain in 1947 and joined the North Atlantic Treaty Organization (NATO) in 1949.