Background - One of the top world economies

In terms of GDP, Italy ranks sixth in the OECD area and fourth in the EU. In 2002, Italian production accounted for 13.7% of the overall GDP of the European Union.

Italy´s economic structure is similar to that of the major European economies with 27.7% of production in manufacturing and construction and almost 70% in services. Within the latter, commerce, transport and communications constitute a slightly higher portion of GDP than the European average.

Historically, Italy has been characterised by diverse levels of economic development, with more sustained growth in the Central-Northern regions as opposed to the South. In recent years, the gap has been gradually reduced. During the growth years between 1995 and 2002, Southern Italy increased its share of national GDP by approximately 0.5%.