Economy of Italy
Currency	Euro (EUR)
Fiscal year	Calendar year
Trade organisations	EU, WTO (via EU membership) and OECD
Statistics
GDP (PPP)	$1.8tn (2007 est.) (7th)
GDP growth	1.9% (2007 est.)
GDP per capita	$31,000 (2007 est.)
GDP by sector	agriculture (2%), industry (29.1%), services (69%) (2006)
Inflation (CPI)	2.3% (2006 est.)
Population below poverty line	12% (2002)
Gini index	36 (2000)
Labour force	24.63m (2006 est.)
Labour force by occupation	services (63%), industry (32%), agriculture (5%) (2005)
Unemployment	6.7% (2007)
Main industries	tourism, commerce, communications, machinery, iron and steel, chemicals, food processing, textiles, automobiles, home appliances, clothing, footwear, ceramics
External
Exports	$474.8bn (2007)
Export goods	engineering products, textiles and clothing, production machinery, motor vehicles, electric goods, transport equipment, chemicals; food, beverages and tobacco; minerals, nonferrous metals
Main export partners	Germany 13.6%, France 12.3%, U.S. 8.0%, Spain 7.2%, UK 6.9%, Switzerland 4.2%
Imports	$483.6bn (2006)
Import goods	engineering products, chemicals, transport equipment, energy products, minerals and nonferrous metals, textiles and clothing; automobiles, electronics, food, beverages, tobacco
Main import partners	Germany 18%, France 10.9%, Netherlands 5.9%, Spain 4.6%, Belgium 4.4%, UK 4.3%, the People's Republic of China 4.2%
Public finances
Public debt	(107.8% of GDP) (2006 est.)
Revenues	$832.9bn (2006 est.)
Expenses	$925bn (2006 est.)
Economic aid	donor: $2.48 billion, 0.15% of GDP (2004) [1]
Main data source: CIA World Factbook All values, unless otherwise stated, are in US dollars
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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 both the World Bank and the International Monetary Fund as the world's seventh largest economy in USD exchange-rate terms and either the ninth (World Bank) or tenth (IMF and the CIA World Factbook) largest in terms of purchasing power parity (PPP). More recently, Italy has faced sluggish economic growth and reduced international competitiveness. However, statistics as of 2007 show signs of acceleration in GDP growth, estimated at 2% in 2006, a record high since 2000. Image File history File links Size of this preview: 800 × 241 pixelsFull resolution (1000 × 301 pixel, file size: 126 KB, MIME type: image/jpeg) File historyClick on a date/time to view the file as it appeared at that time. ... For other uses, see Euro (disambiguation). ... WTO redirects here. ... The Organization for Economic Co-operation and Development (OECD) is an international organization of those developed countries that accept the principles of representative democracy and a free market economy. ... GDP is an acronym which can stand for more than one thing: (in economics) an abbreviation for Gross Domestic Product. ... PPP of GDP for the countries of the world (2003). ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... There are three lists of countries of the world sorted by their gross domestic product (GDP) (the value of all final goods and services produced within a nation in a given year). ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... It has been suggested that this article be split into multiple articles accessible from a disambiguation page. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... Map of countries showing percentage of population who have an income below the national poverty line The poverty line is the level of income below which one cannot afford to purchase all the resources one requires to live. ... 2002 is a common year starting on Tuesday of the Gregorian calendar. ... The Gini coefficient is a measure of inequality developed by the Italian statistician Corrado Gini and published in his 1912 paper Variabilità e mutabilità. It is usually used to measure income inequality, but can be used to measure any form of uneven distribution. ... This article is in need of attention. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... 2005 is a common year starting on Saturday of the Gregorian calendar. ... CIA figures for world unemployment rates, 2006 Unemployment is the state in which a person is without work, available to work, and is currently seeking work. ... 2007 is a common year starting on Monday of the Gregorian calendar. ... Tourist redirects here. ... This article does not cite any references or sources. ... The term communications is used in a number of disciplines: Communications, also known as communication studies is the academic discipline which studies communication, generally seen as a mixture between media studies and linguistics. ... A machine is any mechanical or electrical device that transmits or modifies energy to perform or assist in the performance of tasks. ... The chemical industry comprises the companies that produce industrial chemicals. ... This article is about the type of fabric. ... Car redirects here. ... Home appliances are electrical/mechanical appliances which accomplish some household functions, such as cooking or cleaning. ... A baby wearing many items of winter clothing: headband, cap, fur-lined coat, shawl and sweater. ... High-heeled shoe Footwear consists of garments worn on the feet. ... Ancient Egyptian ceramic art: Louvre Museum. ... 2007 is a common year starting on Monday of the Gregorian calendar. ... For other uses of terms redirecting here, see US (disambiguation), USA (disambiguation), and United States (disambiguation) Motto In God We Trust(since 1956) (From Many, One; Latin, traditional) Anthem The Star-Spangled Banner Capital Washington, D.C. Largest city New York City National language English (de facto)1 Demonym American... 2006 is a common year starting on Sunday of the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... One thousand million (1,000,000,000) is the natural number following 999,999,999 and preceding 1,000,000,001. ... GDP is an acronym which can stand for more than one thing: (in economics) an abbreviation for Gross Domestic Product. ... USD redirects here. ... Combatants Allied powers: China France Great Britain Soviet Union United States and others Axis powers: Germany Italy Japan and others Commanders Chiang Kai-shek Charles de Gaulle Winston Churchill Joseph Stalin Franklin Roosevelt Adolf Hitler Benito Mussolini Hideki Tōjō Casualties Military dead: 17,000,000 Civilian dead: 33,000... The World Bank logo The World Bank (the Bank) is a part of the World Bank Group (WBG), is a bank that makes loans to developing countries for development programs with the stated goal of reducing poverty. ... IMF redirects here. ... USD redirects here. ... In finance, the exchange rate (also known as the foreign-exchange rate, forex rate or FX rate) between two currencies specifies how much one currency is worth in terms of the other. ... World Factbook 2004 cover The World Factbook is an annual publication by the Central Intelligence Agency of the United States with basic almanac-style information about the various countries of the world. ... PPP of GDP for the countries of the world (2003). ...

The country belongs to the Group of nine (G9) industrialized nations; it is a member of the European Union and the OECD. G9 has several uses including: G9 Crampon G9 star, a subclass of G-class stars G9 Hotel in Tallinn, Estonia Air Arabia IATA airline designator Gaia Online donation item GOL Transportes Aeros (Brazil) IATA airline designator Group 9 element of the periodic table NATO code for the Assistant Chief-of... The Organization for Economic Co-operation and Development (OECD) is an international organization of those developed countries that accept the principles of representative democracy and a free market economy. ...

Italy's economic strength is in the processing and the manufacturing of goods, primarily in small and medium-sized family-owned firms. The country has been less successful in terms of developing world class multinational corporations. In addition, the small and medium-sized firms typically manufacture products that are technologically moderately advanced and therefore increasingly face crushing international competition. However, Italy's Institute for Foreign Trade, has initiated the "Machines Italia" program, in conjunction with leading Italian machinery manufacturers' associations to promote Italian manufacturers' recognized attributes for creativity, flexibility and innovation in bringing customized solutions to their clients. Currently the Machines Italia program operates in various foreign markets as the United States, Canada and Mexico.

Recent economic development

Since 1991, economic policy in Italy has focused primarily on reducing government budget deficits and reining in the national debt. Successive Italian governments have adopted annual austerity budgets with cutbacks in spending, as well as new revenue raising measures. Italy has enjoyed a primary budget surplus, net of interest payments, for the last 7 years. The deficit in public administration declined to 1.4% of GDP in 2000, down from 7% in 1995. Italy joined the Economic and Monetary Union in May 1998. The national debt, which stood at roughly 124% of GDP in 1995, declined steadily until about 2002, but is rising again because of slow growth. The deficit-to-GDP ratio is likely going to be higher than the EU limit of 3.0% in 2005, and estimates of up to 5.1% have appeared. For the concept in general, see economic and monetary union. ...

Italy entered an economic crisis in 1999, with GDP growth at about zero, although GDP has started to grow again as of 2005. Previously, Italy's economy had accelerated from 0.7% growth in 1996 to 1.4% in 1999 and continued to rise to about 2.90% in 2000, which was closer to the EU projected growth rate of 3.10%. Domestic demand and exports were the dominant factors in GDP growth, but it nevertheless remains one of the lowest among industrialised countries. Since 2002, growth has gradually slowed, reaching recession conditions. The opposition blamed Silvio Berlusconi's government for incompetence, especially the minister of economy Giulio Tremonti. A report of the Economist, entitled Addio, dolce vita ("Farewell, sweet life") parallels current status of Italian economy to that of the Republic of Venice in 1797, a country with "many attractions" but living "a slow, long decline". Italy was called "the real sick man of Europe" in a 2005 report of The Economist. Import growth continues to outpace export growth, resulting in a trade deficit in 2000 of $1.3 billion, down from $14 billion in 1999 and $60 billion in 1996. Also see: 2002 (number). ... In macroeconomics, a recession is a decline in a countrys real gross domestic product (GDP), or negative real economic growth, for two or more successive quarters of a year. ... LUnione (The Union in English) is a Italian left-wing coalition of parties. ...   (born 29 September 1936) is an Italian politician, entrepreneur, media proprietor, and is expected to be appointed President of the Council of Ministers of Italy, a position he has held twice before. ... ÁÁGiulio Tremonti (August 18, 1947, Sondrio, Lombardy) is an Italian politician and economist, and the current Italian minister of Economy and Finance under the government of Silvio Berlusconi. ... The Economist is an English-language weekly news and international affairs publication owned by The Economist Newspaper Ltd and edited in London. ... Borders of the Republic of Venice in 1796 Capital Venice Language(s) Venetian, Latin, Italian Religion Roman Catholicism Government Republic Doge  - 1789–97 Ludovico Manin History  - Established 697  - Treaty of Zara June 27, 1358  - Treaty of Leoben April 17, 1797 * Traditionally, the establishment of the Republic is dated to 697. ... The term Sick Man of Europe is a nickname associated with a European country experiencing a time of economic difficulty and/or poverty. ...

With respect to inflation of forms, Italy is now firmly within norms specified for Economic and Monetary Union (EMU), a major achievement for this historically inflation-prone country. Consumer inflation fell from 3.9% in 1996 to 1.7% in 1999 but did rise again to 2.5% in 2000. The 1992 agreement on wage adjustments, which has helped keep wage pressures on inflation low, remains in effect. Tight monetary policy by the Bank of Italy also has helped bring inflation expectations down. Since 1999, a combination of the introduction of the euro and a house price boom are blamed for a rate of inflation estimated by academics as at least 15%, although officially it is around 2.5% [2]. Most Italians maintain that with the euro, prices doubled overnight. This was not due to the new currency in itself (widely reviled especially from the political right, since it was Romano Prodi, the center-left's leader, who headed UE's efforts in that direction), but to massive dishonesty on part of pricemakers and resellers, in damage of fixed wage perceivers and pensioners. This has furthermore widened an already worrying division of Italian society, heading towards the "haves vs. have nots" model. For other uses, see Euro (disambiguation). ... Prodi redirects here. ...

Labor

Unemployment has been steadily decreasing (6.7% in 2007, its lowest level since 1992). But is severe in the south, where average unemployment can exceed 20%. Women and youth have significantly higher rates of unemployment than men. In past years, some claimed the rigid labor market was a disincentive to job creation. After a series of unpopular flexibility measures were passed, employment improved somewhat, but there have been reports of many companies abusing these measures in a series of ways, in order to force employees to work more hours than legal, and providing less secure jobs. There is a significant underground economy, especially in the south where it partially offsets the high official unemployment rate, absorbing substantial numbers of people, working for low wages and without standard social benefits and protections. CIA figures for world unemployment rates, 2006 Unemployment is the state in which a person is without work, available to work, and is currently seeking work. ... Southern Italy, often referred to in Italian as the Mezzogiorno (a term first used in 19th century in comparison with French Midi ) encompasses six of the countrys 20 regions: Basilicata Campania Calabria Puglia Sicilia Sardinia Sicilia although it is geographically and administratively included in Insular Italy, it has a...

Unions claim to represent 40% of the work force. Most Italian unions are grouped in three major confederations: the Italian General Confederation of Labor (CGIL), the Italian Confederation of Workers’ Trade Unions (CISL), and the Union of Italian Labor (UIL), which together claim 35% of the work force. These confederations formerly were associated with important political parties (respectively the Italian Communist Party, the Christian Democracy and the Italian Socialist Party), but they have formally terminated such ties. Nowadays, the three often coordinate their positions before confronting management or lobbying the government. The three major confederations have an important consultative role on national social and economic issues. Among their major agreements are a 4-year wage moderation agreement signed in 1993, a reform of the pension system in 1995, and an employment pact, introducing steps for labor market flexibility in economically depressed areas, in 1996. The CGIL, CISL, and UIL are affiliates of the International Trade Union Confederation. Of the three unions, CGIL is the strongest in numbers. CGIL once single-handedly organized a three-million people rally in Rome. The Confederazione Italiana Sindacati Lavoratori (CISL or Cisl; Italian Confederation of Workers’ Trade Unions) is an Italian trade union association representing various Roman Catholic-inspired groups linked with Christian Democracy. ... The Partito Comunista Italiano (PCI) or Italian Communist Party emerged as Partito Comunista dItalia or Communist Party of Italy from a secession by the Leninist comunisti puri tendency from the Italian Socialist Party (PSI) during that bodys congress on 21 January 1921 at Livorno. ... Christian Democracy, (Democrazia Cristiana), the Christian democratic party of Italy, commonly called the democristiani or DC, dominated government for nearly half a century until its demise amid a welter of corruption allegations in 1992-94. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... The International Trade Union Confederation (ITUC) is the worlds largest trade union federation. ... For other uses, see Rome (disambiguation). ...

Italy's employers are represented by Confindustria, the Italian Employers' Federation. Confindustria is the Italian employers federation, founded in 1910. ...

Primary sector

The eastern part of Italy produces primarily grains, rice, maize corn, sugar beets, soybeans, meat, fruits and dairy products, while the south specializes in producing fruits, vegetables, oil and durum wheat. Italy is the third largest producer of wine in the world and one of the leading in olive oil, fruits (apples, oranges, lemons, pears, apricots, peaches, cherries, strawberries, kiwi), flowers and vegetables.

According to the Agriculture Census, there were 2.6 million farms in 2000 (down from 3 million in 1990,) covering 19.6 million hectares. The vast majority (94.7%) are family-operated and small, averaging only 5 hectares in size. Of the total surface area in agricultural use (forestry excluded,) grain fields take up 31%, olive tree orchards 8.2%, vineyards 5.4%, citrus orchards 1%, other orchards 3.8%, sugarbeets 1.7%, and horticulture 2.4%. The remainder is primarily dedicated to pastures (25.9%) and feed grains (11.6%.) Livestock includes 6 million heads of bovines, 8.6 million heads of swines, 6.8 million heads of ovines, and 0.9 million heads of caprines. Pastureland Pasture is land with lush herbaceous vegetation cover used for grazing of ungulates as part of a farm or ranch. ... ...

Mineral resources and energy

Italy has few natural resources. With much of the land unsuited for farming, it is a net food importer. There are no substantial deposits of iron, coal, or oil. Proven natural gas reserves, mainly in the Po Valley and offshore Adriatic, have grown in recent years and constitute the country's most important mineral resource. Most raw materials needed for manufacturing and more than 80% of the country's energy sources are imported. Farming, ploughing rice paddy, in Indonesia Agriculture is the process of producing food, feed, fiber and other desired products by cultivation of certain plants and the raising of domesticated animals (livestock). ... General Name, symbol, number iron, Fe, 26 Chemical series transition metals Group, period, block 8, 4, d Appearance lustrous metallic with a grayish tinge Standard atomic weight 55. ... Coal Example chemical structure of coal Coal is a fossil fuel formed in ecosystems where plant remains were saved by water and mud from oxidization and biodegradation. ... Petro redirects here. ... For other uses, see Natural gas (disambiguation). ... For other uses, see Mineral (disambiguation). ...

Industry

Northern Italy (Piedmont, Lombardy, Veneto, Emilia Romagna) has traditionally made up the core of Italian industry. Key benefits include easy trade with the rest of Europe, hydroelectricity from the Alps, and workable, flat land. The FIAT factory, for example, is located in Turin. Most Italian industries, often of small size, are located in the "industrial triangle" (Milan, Turin, Genoa) and in some centres of Northeast and Emilia Romagna. Northern Italy comprises of two areas belonging to NUTS level 1: North-West (Nord-Ovest): Aosta Valley, Piedmont, Lombardy, Liguria North-East (Nord-Est): Friuli-Venezia Giulia, Veneto, Trentino-Alto Adige/Südtirol, Emilia-Romagna Friuli-Venezia Giulia, Trentino-Alto Adige/Südtirol and Aosta Valley are regions with a... Hydroelectricity is electricity produced by hydropower. ... Alp redirects here. ... For other uses, see Fiat (disambiguation). ... Torino redirects here. ...

Famous Italian foods have been brought to the rest of the world through Italian emigration, especially to the United States, Germany, France, Canada, Brazil, Argentina and Australia. Italian foods include a multitude of pasta dishes (originating in 1500s Italy), pizza (born in 1800s Naples), ice cream, parma ham, rice, parmesan cheese and wine. The most famous Italian wines are probably the Tuscan Chianti and Piedmontese Pinot Grigio. Other famous wines are Barbaresco, Barolo and Barbera (Piedmont), Brunello di Montalcino (Tuscany), Montepulciano d'Abruzzo (Abruzzo) and Nero d'Avola (Sicily). Quality goods in which Italy specialises are often DOC or 'of controlled origin'. This DOC certificate, which is attributed by the European Union, ensures that the origins and work that goes into a product are recognised. This certification is considered important by producers and consumers alike, in order to avoid confusion with low-quality mass-produced ersatz products, such as Cambozola, a German copy of Gorgonzola. A memorial statue in Hanko, Finland, commemorating the thousands of emigrants who left the country to start a new life in the United States Emigration is the act and the phenomenon of leaving ones native country or region to settle in another. ... Percentages are relative to US recommendations for adults. ... For other uses, see Pizza (disambiguation). ... Location of the city of Naples (red dot) within Italy. ... Missing image Ice cream is often served on a stick Boxes of ice cream are often found in stores in a display freezer. ... Prosciutto is a dry-cured ham from central and northern Italy and from Slovenia (Kras), where it is called pršut. ... For other uses, see Rice (disambiguation). ... It has been suggested that this article or section be merged into Parmigiano_Reggiano. ... For other uses, see Wine (disambiguation). ... For other uses, see Tuscany (disambiguation). ... Valdelsa (part of Chianti Colli Fiorentini sub-area). ... For other uses, see Piedmont (disambiguation). ... Pinot Gris is a white wine grape of species Vitis vinifera related to Pinot noir which goes by a lot of other names: Pinot Grigio (Italy) Pinot Beurot (Loire Valley, France) Ruländer (Austria and Germany, Romania, sweet) Grauburgunder or Grauer burgunder (Austria and Germany, dry) Grauklevner (Germany) Malvoisie (Loire... Denominazione di origine controllata is an Italian quality assurance label for food products and especially wines (an appellation). ... A certificate is an official document affirming some fact. ... Ersatz is a German word literally meaning substitute or replacement. ... Cambozola is a cheese that is a combination of French Camembert and Italian Germany during the 1970s. ... Gorgonzola is a village in the Lombardy region of northern Italy, formerly with a separate identity, but now part of the Milan metropolitan area. ...

Italy is known also for its fashion houses; Versace, Valentino, Fendi, Gucci, Prada, Roberto Cavalli, Sergio Rossi, Dolce & Gabbana, Benetton, Armani and others. Logo of Fendi, SpA A shop of Fendi in the Landmark, Hong Kong Fendi is an Italian fashion designer brand founded in 1918. ... It has been suggested that this article be split into articles entitled Guccio Gucci and Gucci, accessible from a disambiguation page. ... For other uses, see Prada (disambiguation). ... Roberto Cavalli (born November 15, 1940) is a well-known Italian fashion designer of modern luxury clothing. ... Sergio Rossi is a leading Italian fashion designer and distributor of womens shoes and handbags, as well as a limited range of mens shoes. ... Dolce & Gabbana () is a high-end fashion house started by the Italian designers Domenico Dolce, born near Palermo, Sicily, and Stefano Gabbana, born in Milan, Italy. ... Benetton Group S.p. ... This article is about the fashion company. ...

The only Italian automaker is FIAT, specialized in utilitaries and luxury vehicles, with the brands FIAT, Lancia, Alfa Romeo, Ferrari and Maserati. The Piedmontese group has struggled in recent times due to high input costs and declining market share, although a recent revival has seen a return to profit. Italian industry also produces motorcycles and scooters, due to groups like Piaggio and Ducati.

Italy has a huge production of home appliances, especially in Lombardy (Candy), Marche (Merloni) and Northeastern regions.

The Time magazine reported in early 2008 that the mafia's purchasing power was estimated at almost $125 billion (or 15 cents per minute)

See also: Italian mafia

This article is about the organized crime groups. ...

Italian exports

Italian exports in 2005

Italy's major exports are precision machinery, motor vehicles (utilitaries, luxury vehicles, motorcycles, scooters), chemicals and electric goods, but the country's more famous exports are in the fields of food and clothing. Image File history File links Size of this preview: 800 × 351 pixelsFull resolution (1425 × 625 pixel, file size: 61 KB, MIME type: image/png)This bubble map shows the global distribution of Italian exports in 2005 as a percentage of the top market (Germany - €39,493,445,354). ... Image File history File links Size of this preview: 800 × 351 pixelsFull resolution (1425 × 625 pixel, file size: 61 KB, MIME type: image/png)This bubble map shows the global distribution of Italian exports in 2005 as a percentage of the top market (Germany - €39,493,445,354). ...

Italy's closest trade ties are with the other countries of the European Union, with whom it conducts about 59% of its total trade. Italy's largest EU trade partners, in order of market share, are Germany (19%), France (13%), and the Netherlands (6%).

See also

• OECD's Italy country Web site and OECD Economic Survey of Italy
• Economy of Europe
• Commemorative coins of Italy
• Economy of Italy under Fascism, 1922-1943

The economy of Europe comprises more than 710 million people in 48 different states. ... The commemorative coins of Italy are minted by the Instituto Poligrafico e Zecca dello Stato (IPZS) in Roma. ... This article or section does not cite any references or sources. ...

External links

• Banca D'Italia (Italy's Central Bank)
• National Institute of Statistic (ISTAT) (in Italian)
• International Cooperation Center for Statistics (ICSTAT)
• Sebastian Cresswell-Turner, the New Statesman, 20 September 2004, "House prices? In Italy, too, people talk of little else"
• Report about economic survey of Italy by OECD (May 2005)
• The Italian portal about patents and intellectual property
• Italian Trade Commission's Machines Italia campaign page

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WTO redirects here. ... Image File history File links Size of this preview: 800 × 370 pixelsFull resolution (1357 × 628 pixel, file size: 19 KB, MIME type: image/png)World map of World Trade Organization (WTO) members/non-members, 2005; based on Image:BlankMap-World-v2. ... Economy - overview: Antigua and Barbudas economy is service-based, with tourism and government services representing the key sources of employment and income. ... The Asian financial crisis in 1997 and 1998, coupled with fluctuations in the price of oil have created uncertainty and instability in Bruneis economy. ... Burkina Faso is one of the poorest countries in the world with an average income per capita of €250 (US$300). ... To meet Wikipedias quality standards, this article may require rewriting and/or reformatting. ... All text and figures relate to mainland China only, unless stated. ... 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(Former Yugoslav Republic of Macedonia), then its poorest republic (only 5% of the total federal output of goods and services), of its key protected markets and large transfer payments from the center. ... Economy - overview: The Gambia has no important mineral or other natural resources and has a limited agricultural base. ... This article needs to be updated. ... The Economy of Hong Kong is widely believed, and some argue incorrectly, to be the most economically free in the world. ... Currency 1 South Korean Won (W) = 100 Jeon(Chŏn) (theoretical) Fiscal year Calendar year Trade organizations APEC, WTO and OECD GDP ranking 10th by volume (at nominal) (2006); 11th by volume (at PPP) (2006); GDP (Nominal) $981. ... The Economy of New Zealand is a small but prosperous free market economy, which is greatly dependent on international trade, mainly with Australia, the United States of America and Japan. ... Papua New Guinea is richly endowed with natural resources, but exploitation has been hampered by the rugged terrain and the high cost of developing infrastructure. ... The economy of Saint Kitts and Nevis has traditionally depended on the growing and processing of sugar cane; decreasing world prices have hurt the industry in recent years. ... Saint Lucias economy depends primarily on revenue from banana production and tourism with some input from small-scale manufacturing. ... The St. ... Economy - overview: Saudi Arabia has an oil-based economy with strong government controls over major economic activities. ... To meet Wikipedias quality standards, this article may require rewriting and/or reformatting. ... A per capita GDP of $340 ranks Solomon Islands as a lesser developed nation. ... South Africa has a two-tiered economy; one rivaling other developed countries and the other with only the most basic infrastructure. ... With an economy of $27. ... Republic of China (ROC) has a dynamiccapitalist economy with gradually decreasing guidance of investment and foreign trade by the government. ... Trinidad and Tobago experienced a real growth rate of 3. ... // The United Arab Emirates has a highly industrialized economy that makes the country one the most developed in the world, based on various socioeconomic indicators such as GDP per capita, energy consumption per capita, and the HDI. At $168 billion in 2006, the GDP of the UAE ranks second in... The economy of the United States has been the worlds largest national economy since the late 1890s;[1] its gross domestic product (GDP) was estimated as $13. ... All twenty-seven member states of the European Union are also members of the WTO in their own right: Austria • Belgium • Bulgaria • Cyprus • Czech Republic • Denmark • Estonia • Finland • France • Germany • Greece • Hungary • Ireland • Italy • Latvia • Lithuania • Luxembourg • Malta • Netherlands and Netherlands Antilles • Poland • Portugal • Romania • Slovakia • Slovenia • Spain • Sweden • United Kingdom. Special Administrative Region of the People's Republic of China. Designated name for the Republic of China (Chinese Taipei)