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Italian Economy

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Italy (Italia)

Gross domestic product (GDP) : The Gross Domestic Product (GDP) in Italy contracted 0.10 percent in the third quarter of 2013 over the previous quarter. GDP Growth Rate in Italy is reported by the National Institute of Statistics (ISTAT). GDP Growth Rate in Italy averaged 0.63 Percent from 1960 until 2013, reaching an all time high of 6 Percent in the first quarter of 1970 and a record low of -3.60 Percent in the first quarter of 2009. Italy has the eighth largest economy in the world and the third largest in the Euro Zone. The country has a diversified industrial base driven in large part by manufacturing of high-quality consumer goods. After joining the European Union in 1952, Italy experienced several decades of growth rates above 4 percent. Yet, after 1992, the expansion rates went below EU average. Since then, the government has been trying to revive the economy by increasing public spending. As a result, the public debt and budget deficit have reached unsustainable levels and the country is facing tough austerity measures and the second recession in four years.
The GDP in Italy was: 2127,2 in 2008; 2307,3 in 2009; 2111,2 in 2010; 2042 in 2011; 2192,4 billions USD in 2012 .Source from http://www.tradingeconomics.com/italy/gdp-growth .

GDP per capita : GDP per capita is gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Source from http://data.worldbank.org/indicator/NY.GDP.PCAP.CD?order=wbapi_data_value_2009+wbapi_data_value+wbapi_data_value-first&sort=asc .
In Italy the GDP per capita was: 35,073 in

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