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GDP Contribution ofServices in ItalyReport

Submitted by:

Zahra Ali

Shiza Khan

Submitted to

Wajhia Faisal

Source of information:internet

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Introduction of Italy:

Italy, officially the Italian Republic, is located on the Italian Peninsula in Southern Europe,

and on the two largest islands in the Mediterranean Sea, Sicily and Sardinia. Italy shares

its northern Alpine boundary with France, Switzerland, Austria and Slovenia. The Capital

of Italy is Rome.Italy is subdivided into 20 regions. It is further divided into 109 provinces

(province) and 8,101 municipalities.

It is a democratic republic and a developed country with the 8th-highest Quality-of-

life index rating in the world. It is a founding member of what is now the European Union

(having signed the Treaty of Rome in 1957), and a founding member of the North Atlantic

Treaty Organization (NATO). It is a member of the G8 (having the world's 7th largest

nominal GDP), Organization for Economic Co-operation and Development (OECD), World

Trade Organization (WTO), the Council of Europe, the Western European Union. It has the

world's 7th largest defense budget and shares NATO's nuclear weapons. On 1 January

2010, Italy began a two year term as a non-permanent member of the United Nations

Security Council. Literacy Rate 98.4% (male: 98.8%, female: 98%) as per 2001 census.

POPULATION OF ITALY:

Its population has surpassed 60 million as per the 2009 estimates. It is the forth-largest populated country of

Europe and ranks twenty third in the world chart. Italy stands fifth all over Europe.It has the high birth rate of

9.78 births and low death rate of 9.82 deaths.Some of the largest populated cities of Italy are

Rome,

Naples,

Turin, Palermo

Genoa.

FLAG OF ITALY:

The flag of Italy is a tricolor featuring three equally sized vertical pales of green, white, and red and green.

Its current form has been in use since 19 June 1946 and was formally adopted on 1 January 1948. The

color chosen by the Republic were red and white, the color of the flag of Milan, and green, which was the

color of the uniform of the Milanese civic guard.

ECONOMY:

The economy of Italy has changed dramatically since the end of World War II. From

an agriculturally based economy, it has developed into an industrial country ranked by

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both the World Bank and the International Monetary Fund as the world's sixth largest

economy in USD exchange-rate terms and either the ninth (World Bank) or tenth (IMF

and the CIA World Fact book) largest in terms of purchasing power parity (PPP).

The country belongs to the Group of eight (G8) industrialized nations; it is a member of

the European Union and the OECD. This capitalistic economy remains divided into a

developed industrial north, dominated by private companies, and a less-developed,

welfare-dependent, agricultural south.

The country's main economic strength has been its large base of small- and medium-

sized companies. Italian industry is envied for its advanced design and style, which often

capitalizes on the country's formidable artistic patrimony.

GDP Contribution in country:

In 2010 Italys gross domestic product (GDP) was estimated at $1.782 trillion, or about $30,073.50 per

capita. GDP is a measure of the total value of the goods and services a country produces. Industry (including

manufacturing, mining, and construction) contributed 27 percent to the GDP, services (including wholesale and

trade(10%), banking(12%), and government (14.5%) ,transportation (5%), educational and health

services(11%), professional business services(10.5%) and other services(8% ) 71 percent, and agriculture

(including forestry and fishing) a scant 2 percent. Italy essentially has a private-enterprise economy, although

the government formerly held a controlling interest in a number of large commercial and manufacturing

enterprises, such as the oil industry (through the Italian state petroleum company) and the principal

transportation and telecommunication systems. And other some GDP Factor as discussed below :GDP (official

exchange rate in 2010 is $2.037 trillion. The GDP of real growth rate is 1.1 % in 2010 and the coutr y

comparison of the world is 177 in the world and in 2009 real the growth rate of the GDP - 5.1%. GDP-per capita

(ppp) is 30,700 in 2010 and the country comparison in the world is 43. Labor force in Italy is approximately

25.05 million in 2010 and the country comparison in the world 23. Unemployment rate of Italy is 8.4% in 2010and country comparison in the world is in 97TH position and 7.8% rate in 2009 .household income or

consumption by the percentage share is lowest to 10%:2.3% and highest to 10%:26.8% in 2000.inflation rate

(consumer prices) in 2010 is 1.4% and ranking in the world is in 33rd position and in 2009 the inflation rate is

approximately 0.8% . central bank discount rate is up to 1.75% till December 31 2009 and 3% in 2008.this is

the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the

euro area and commercial bank lending rate is 10.26% in December 31st 2009 and 11.31% in December 31st

2008. The main Agriculture product are fruits, vegetables, grapes, potatoes, sugar beets, soybeans, grain, olives

beef, dairy products; fish and the industries of the Italy are tourism, machinery, iron and steel, chemicals, food

processing, textiles, motor vehicles, clothing, footwear, ceramics and the industry production growth rate is

about 0.5%. The exports of the Italian country play an vital role in the GDP and the total exports are round of458.4 billion in 2010 and 407.2 billion in 2009 , export commodities are engineering products, textiles and

clothing, production machinery, motor vehicles, transport equipment, chemicals; food, beverages and tobacco;

minerals, and nonferrous metals and the exporting partners of the Italy is mostly are European countries

Germany 12.6% France 11.57%, US 5.92%, Spain 5.69%, UK 5.13%, Switzerland 4.69% (2009).imports is

about 459.7 billion in 2010 and 403.9 billion in 2009 some of the commodities which Italy import from their

partner countries like engineering products, chemicals, transport equipment, energy products, minerals and

nonferrous metals, textiles and clothing; food, beverages, and tobacco and import partner are Germany 16.68%,

France 8.82%, China 6.53%, Netherlands 5.63%, Spain 4.3%, Russia 4.12%, Belgium 4.08% in 2009.

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Pie Chart of GDP: