Economy
The most important sectors of Italy’s economy in 2018 were wholesale and retail trade, transport, accommodation and food services (21.4%), industry (19.4%) and public administration, defence, education, human health and social work activities (16.6%). Currency: EURO GDP Per Capita: 33,189.6 USD (2019) GDP Growth Rate: 0.3% annual change (2019) Gross Domestic Product: 2,147,421.95 million (2019) GNI Per Capita: 43,260 PPP dollars (2018)
Italy
Foreign Trade
Italy’s main export partners are Germany, France, and the US while its main import partners are Germany, France, and China. Exports: The top exports of Italy are Packaged Medicaments($20.2B), Cars ($17.2B), Refined Petroleum ($16.1B), Vehicle Parts($15.2B), and Valves ($8.27B). The top imports of Italy are Crude Petroleum ($41.9B), Cars ($32.4B), Petroleum Gas ($18.2B), Packaged Medicaments ($16.9B), and Refined Petroleum ($10.3B). Italy exports mostly to Germany ($67.8B), France ($56.4B), United States ($50.6B), Spain ($28B), and United Kingdom ($27.7B), and imports mostly from Germany ($81.2B), France ($42.9B), China ($35.6B), Spain ($25.4B), and Netherlands ($25.1B). In 2018, Italy exported $540B and imported $509B, resulting in a positive trade balance of $30.4B. In 2018, Italy’s exports per capita were $8.93k and its imports per capita were $8.43k
Finances with European Union
Breakdown of Italy’s finances with the EU: Total EU spending in Italy is 10.337 billion. Total EU spending as % of Italian gross national income (GNI) is 0.58%, total Italian contribution to the EU budget is 15.215 billion Italian contribution to the EU budget as % of its GNI is 0.89%