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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.
According to the California Department of Food and Agriculture, "California agriculture is a $42.6 billion dollar industry that generates at least $100 billion in related economic activity." [ 37 ] The state's agricultural sales first exceeded $30 billion in 2004, [ 33 ] making it more than twice the size of any other state's agriculture industry.
Malta is the smallest economy in the eurozone as well as the European Union, and is the fastest growing European economy in the Commonwealth of Nations. Moldova is the fastest growing economy in Europe, but is also one of Europe's poorest countries, with the lowest GDP (nominal) per capita of any European state.
“California is the fifth largest economy in the world for the seventh consecutive year, with a nominal GDP of nearly $3.9 trillion in 2023 and a growth rate of 6.1% since the year prior ...
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 ...
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%.
Il sorpasso ([il sorˈpasso]; Italian for "the overtaking") is a term used by Italian press and commentators to designate Italy's 1987 overtaking of Britain's economy in nominal GDP terms. [1] Italy's per capita income reached $15,120 by 1989, compared with Britain's $14,160 (and the USA's $20,630). [2]