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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.
Map of metropolitan regions in the European Union in 2018. A metropolitan region 's gross domestic product , or GDP , is one of several measures of the size of its economy. Similar to GDP , GMP is defined as the market value of all final goods and services produced within a metropolitan region in a given period of time.
Own work based on California Economic Strategy Panel Regions (PDF). California Labor Workforce and Development Agency (October 2006). Archived from the original on 2011-10-01. Retrieved on March 1, 2010. Author: Own work Based on File:California county map (labeled).svg by User:Thadius856: Other versions
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 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 ...
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Lombardy is the first [13] region of Italy in terms of economic importance, [14] contributing to approximately a fifth of the national gross domestic product (GDP). [ 15 ] [ 16 ] Lombardy is a member of the Four Motors for Europe , an international economical organization whose other members are Baden-Württemberg in Germany, Catalonia in Spain ...