Official Name:Italian Republic
Capital:Rome
Total area:301 338 km2
GDP per capita:$30,136
Native Language:Italian
Government:Unitary parliamentary constitutional republic
Population:59,685,227
Major Religion:Roman Catholicism
Monetary Unit:Euro (EUR)
Italy is mainly mountainous, with the exception of the Po Valley in the north, stretching from the Alps to the central Mediterranean. It includes the islands of Sicily, Sardinia, Elba and about 70 other smaller ones. There are two small independent states on the Italian peninsula: the Vatican City in Rome and the Republic of San Marino.
Italy has a bicameral parliament consisting of the Senate (Senato della Repubblica) or Upper House and the Chamber of Deputies (Camera dei Deputati). Elections take place every five years.
The main economic sectors in the country are tourism, fashion, engineering, chemicals, motor vehicles and food. The northern regions of Italy are among the richest in Europe per capita.
The center of the vast Roman Empire, which left behind a vast archaeological, cultural and literary heritage, the Italian peninsula witnessed the birth of medieval humanism and the Renaissance. This further helped shape European political thought, philosophy and art through figures such as Machiavelli, Dante, Leonardo da Vinci and Galileo.
The list of famous Italian artists is long and includes Giotto, Botticelli, Leonardo, Michelangelo, Tintoretto and Caravaggio. The country has also produced opera composers such as Verdi and Puccini and filmmaker Federico Fellini.
Italian cuisine is one of the most refined and varied in Europe, from the savory flavors of Naples and Calabria to the pesto dishes of Liguria and the cheese and risotto dishes of the Italian Alps.
Health & Wellbeing
The National Health Service provides free medicines to all citizens.
Economy & Jobs
Agriculture, Forestry, Fisheries, Mining, Manufacturing and Energy.
Main attraction
Rome, the Amalfi Coast, the city of Assisi, the city of Florence, the city of Milan, the historic center of Naples, the city of Siena and Venice.
Business
Italy has a market economy characterized by high GDP per capita and low unemployment rates. In 2012 it was the 9th largest economy in the world and 5th largest in Europe in terms of nominal GDP, and the 10th largest economy in the world and 4th largest in Europe in terms of PPP. It is a founding member of the G7, G8, the Eurozone and the OECD.
After World War II, Italy rapidly transformed from an agriculture-based economy into one of the most industrialized nations in the world and a leading country in world trade and exports. It is a developed country with the 8th highest quality of life in the world in 2005 and the 25th Human Development Index. Despite the recent global economic crisis, Italy's GDP per capita in purchasing power parity remains roughly above the EU average, while the unemployment rate (8.5%) is one of the lowest in the EU. The country is known for its influential and innovative business sector, a hardworking and competitive agricultural sector (Italy is the world's largest wine producer), and for its creative and high quality automotive, industrial, appliance and fashion design.
Italy is part of a monetary union, the euro zone, and the EU internal market.
Italy has a smaller number of global multinationals than other economies of comparable size, but there are large numbers of small and medium-sized companies, notoriously located in multiple industrial districts, that form the backbone of Italy's industry. This has created a manufacturing sector, often focused on exporting niche markets and luxury products, that while on the one hand is less able to compete with volume, on the other hand is better able to compete from China and other emerging Asian economies based on lower labor costs, with higher quality products.
The country was the seventh largest exporter in the world in 2009. Italy's closest commercial links are with the other countries of the European Union, with which it does around 59% of its total trade. The largest EU trading partners, in order of market share, are Germany (12.9%), France (11.4%) and Spain (7.4%). Finally, tourism is one of the fastest growing and most profitable sectors of the economy: with 43.6 million international tourist arrivals and total revenue estimated at US$38.8 billion in 2010, Italy is both the fifth most visited country and the country with the highest tourism revenue in the world.
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