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Italy enjoys one of the largest economies in the Euro-11, ranking third behind France and Germany. Italy was unified in 1861 following nearly 1400 years of domination by city-states, foreign powers, and the Papal See. During these years, different cultures developed in the north and south, leading to great economic disparities as the north, with its Venetian, Milanese and Florentine heritages, developed a strong industrial economy. By comparison, the south, formerly dominated by Naples and the Kingdom of the Two Sicilies, remains rural and undeveloped.
GDP and GDP Per Capita,
Italy's GDP for 2001 was 1,217 billion Euros, or 1,095 billion dollars at the average exchange rate for 2001. (Economist Intelligence Unit, January 7, 2003.) Estimated GDP for 2002 was $1.438 trillion after adjustments for Purchasing Power Parity, with a 2002 per capita GDP of 25,000 after a similar adjustment. (The World Factbook, 2002) GDP per capita was 18,800 in 2001, while GDP per...
This was up from 25,230 in 2000 and 24,025 in 1999. Overall GDP grew an average of 2% between 1997 and 2001. (Economist Intelligence Unit, January 7, 2003.) Purchasing power adjustments used by the Economist and the CIA's World Factbook differ slightly.
Income Distribution
Income distribution in Italy is surprisingly egalitarian; in economic terms, the country has a favorable Lorenz Curve and a low Gini Coefficient. Although income distribution is not as egalitarian as that in Scandinavian countries, it favors the poor and middle class more than in the United Kingdom and United States. Wage and income distribution favors the industrial north to the agrarian south of Italy, which has roughly 20% unemployment. In 2000, the top 10% of the population earned 27% of the GDP, whereas the bottom 10% earned 2% of GDP. (The World Factbook, 2002). A report published by the European Foundation for the…
The World Factbook 2002:Italy CIA 2002, www.cia.gov
European Foundation for the Improvement of Living and Working Conditions. "Income distribution developments since the 1993 incomes policy agreement." 2002.
The Economist. Currency Exchange Rates: April 14, 2003. www.economist.com
Italy and USA Analysis COUNTRY A: Italy Introduce country PEST-C Political Environment Legal Environment Economic Environment Business Environment and Activities Analysis of Exports and Imports Balance of Payments and Exchange Rates Social Environment and Demographics Technological Environment Cultural Environment Hofstede's Country Characteristics Power Distance Index Individualism/Collectivism Masculine/Feminine Uncertainty Avoidance Index Long-Term Orientation Realistic Idea Rationale and Support COUNTRY B: United States Introduce Country PEST-C Political Environment Legal Environment Economic environment Business environment and activities Analysis of exports and imports Balance of payments and exchange rates Social environment and demographics Technological Environment Cultural Environment Hofstede's Country Characteristics Power Distance Index Individualism/Collectivism score91 13 Masculine/Feminine 13 Uncertainty Avoidance Index
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