Italy Economic Structure
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Italy’s economic structure relies mainly on its manufacturing and service sectors. The Italian economic structure is well-developed; industrialized in the north, and agricultural based in the south. Italy dominates the world in high quality and superior engineered products.
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Economic Geography
Italy is located in Southern Europe, its a peninsula extending into the central Mediterranean Sea, northeast of Tunisia. Its terrain is mostly rugged and mountainous with some plains, coastal lowlands and a predominantly Mediterranean climate.
Italy’s economic structure relies mainly on its manufacturing and service sectors. The Italian economic structure is well-developed; industrialized in the north, and agricultural based in the south. Italy dominates the world in high quality and superior engineered products.
Economic Geography
Italy is located in Southern Europe, its a peninsula extending into the central Mediterranean Sea, northeast of Tunisia. Its terrain is mostly rugged and mountainous with some plains, coastal lowlands and a predominantly Mediterranean climate.
Italy’s natural resources include coal, mercury, zinc, potash, marble, barite, asbestos, pumice, fluorspar, feldspar, pyrite (sulfur), natural gas and crude oil reserves, fish and arable land.
Population & Labor Force
Italy’s population as of 2010 was 60.206 million, 8.7 percent of which are unemployed.
Italy’s unemployment rate has been on the rise in the past few years. The unemployment rate has gone up from 6.8 percent in 2008 and 7.5 percent in 2009.
4.2 percent of the labor force is employed in agriculture, 30.7 percent in industries and 65.1 percent in services.
Industry Sectors
The service sector, as with most European economies, contributes the most to the national GDP. According to 2010 statistics, Italy’s service sector contributes 72.9 percent of the GDP and generates a 65.1 percent of the country’s total employment.
According to the 2010 statistics, the industry sector contributed 25 percent to Italy’s GDP and employed 30.7 percent of the total 24.95 million work force.
The main Italian industries are:
• Tourism
• Machinery and Chemicals
• Iron and steel
• Food processing
• Textiles, Clothing and Footwear
• Motor vehicles
• Ceramics
Agriculture remains the least contributing sector with just 2.1 percent towards GDP while employing 4.2 percent of the labor force.
