OECD Economic Surveys: Italy 2019

Abstract

This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.

The economic situation and policies of Italy were reviewed by the Committee on 4 February 2019. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 13 March 2019.

The Secretariat’s draft report was prepared for the Committee by Mauro Pisu and Tim Bulman under the supervision of Sebastian Barnes. Statistical research assistance was provided by Federico Giovannelli, and editorial support was provided by Heloise Wickramanayake.

The previous Survey of Italy was issued in February 2017.

Information about the latest as well as previous Surveys and more information about how Surveys are prepared is available at www.oecd.org/eco/surveys.

Basic statistics of Italy

(Data refer to 2017 or latest available. Numbers in parentheses refer to the OECD average)1

LAND, PEOPLE AND ELECTORAL CYCLE
Population (million)	62.0		Population density per km²	205.3	(37.2)
Under 15 (%)	13.8	(17.9)	Life expectancy (years, 2016)	83.3	(80.6)
Over 65 (%)	21.9	(17.0)	Men	81.0	(77.8)
Foreign-born (%, 2016)	9.6		Women	85.6	(83.2)
Latest 5-year average growth (%)	0.4	(0.6)	Latest general election	March	2018
ECONOMY
Gross domestic product (GDP)			Value added shares (%)
In current prices (billion USD)	1 944		Primary sector	2.1	(2.5)
In current prices (billion EUR)	1 726		Industry including construction	24.1	(27.0)
Latest 5-year average real growth (%)	0.4	(2.1)	Services	73.8	(70.5)
Per capita (000 USD PPP)	40.9	(44.3)
GENERAL GOVERNMENT
Per cent of GDP
Expenditure	48.8	(41.0)	Gross financial debt	154.0	(109.5)
Revenue	46.4	(38.8)	Net financial debt	125.0	(70.8)
EXTERNAL ACCOUNTS
Exchange rate (EUR per USD)	0.89		Main exports (% of total merchandise exports)
PPP exchange rate (USA = 1)	0.70		Machinery and transport equipment	36.3
In per cent of GDP			Miscellaneous manufactured articles	17.9
Exports of goods and services	31.3	(55.4)	Manufactured goods	17.7
Imports of goods and services	28.4	(51.0)	Main imports (% of total merchandise imports)
Current account balance	2.8	(0.4)	Machinery and transport equipment	28.7
Net international investment position	-6.7		Chemicals and related products, n.e.s.	15.6
			Manufactured goods	15.5
LABOUR MARKET, SKILLS AND INNOVATION
Employment rate for 15-64 year-olds (%)	58.0	(67.7)	Unemployment rate, Labour Force Survey (age 15 and over) (%)	11.2	(5.8)
Men	67.0	(75.4)	Youth (age 15-24, %)	34.8	(11.9)
Women	48.9	(60.1)	Long-term unemployed (1 year and over, %)	6.5	(1.7)
Participation rate for 15-64 year-olds (%)	65.4	(72.1)	Tertiary educational attainment 25-64 year-olds (%)	18.7	(36.9)
Average hours worked per year	1 723	(1 744)	Gross domestic expenditure on R&D (% of GDP, 2016)	1.3	(2.3)
ENVIRONMENT
Total primary energy supply per capita (toe)	2.5	(4.1)	CO2 emissions from fuel combustion per capita (tonnes, 2016)	5.3	(9.1)
Renewables (%)	17.0	(10.2)	Water abstractions per capita (1 000 m³, 2008)	0.9
Exposure to air pollution (more than 10 g/m3 of PM2.5, % of population, 2015)	97.2	(75.2)	Municipal waste per capita (tonnes, 2016)	0.5	(0.5)
SOCIETY
Income inequality (Gini coefficient, 2016)	0.328	(0.313)	Education outcomes (PISA score, 2015)
Relative poverty rate (%, 2016)	13.7	(11.7)	Reading	485	(493)
Median disposable household income (000 USD PPP, 2016)	22.8	(23.1)	Mathematics	490	(490)
Public and private spending (% of GDP)			Science	481	(493)
Health care	8.9	(8.8)	Share of women in parliament (%, 2016)	31.0	(28.7)
Pensions (2015)	17.1	(8.5)	Net official development assistance (% of GNI)	0.30	(0.38)
Education (primary, secondary, post sec. non tertiary, 2015)	3.0	(3.5)

Better life index: www.oecdbetterlifeindex.org

1. Where the OECD aggregate is not provided in the source database, a simple OECD average of latest available data is calculated where data exist for at least 29 member countries.

Source: Calculations based on data extracted from the databases of the following organisations: OECD, International Energy Agency, World Bank, International Monetary Fund and Inter-Parliamentary Union.