The Ferrari F12berlinetta. Italy is the world's 7th largest exporter of goods. Italy has a mar

Trentino-Alto Adige/Südtirol    Trento    13,607    5,254    1,036,639
Umbria    Perugia    8,456    3,265    906,675
Veneto    Venice    18,399    7,104    4,936,197
Economy

Main article: Economy of Italy


The Ferrari F12berlinetta. Italy is the world's 7th largest exporter of goods.
Italy has a market economy characterized by high per capita GDP and low unemployment rates. In 2012, it was the ninth-largest economy in the world and the fifth-largest in Europe in terms of nominal GDP,[3] and the tenth-largest economy in the world and fourth-largest in Europe in terms of PPP.[3] It is a founding member of the G7, G8, the Eurozone and the OECD.
After World War II, Italy was rapidly transformed from an agriculture based economy into one of the world's most industrialized nations[104] and a leading country in world trade and exports. It is a developed country, with the world's 8th highest quality of life in 2005[14] and the 25th Human Development Index. In spite of the recent global economic crisis, Italian per capita GDP at purchasing power parity remains approximately above to the EU average,[105] while the unemployment rate (8.5%) stands as one of the EU's lowest.[106] The country is well known for its influential and innovative business economic sector,[107] an industrious and competitive agricultural sector[107] (Italy is the world's largest wine producer),[108] and for its creative and high-quality automobile, industrial, appliance and fashion design.[107]


Italy is part of a monetary union, the Eurozone (dark blue), and of the EU single market.
Italy has a smaller number of global multinational corporations than other economies of comparable size, but there is a large number of small and medium-sized enterprises, notoriously clustered in several industrial districts, which are the backbone of the Italian industry. This has produced a manufacturing sector often focused on the export of niche market and luxury products, that if on one side is less capable to compete on the quantity, on the other side is more capable of facing the competition from China and other emerging Asian economies based on lower labour costs, with higher quality products.[109]