Until 1945, the Italian economy was largely agricultural.
From then on, Italy entered into a period of rapid industrial development.
This development peaked in the years between 1958 - 1963, the years of the "economic miracle".
Italy is compelled to import all the oil that it needs.
Neither is Italy rich in other natural resources and has to import most raw materials that are needed for industry.
Among its natural resources. Italy does have limited deposits of mercury, potash, marble and sulfur.
The center and north of the country are industrialized while agriculture is concentrated more in the south.
The unemployment rate in southern Italy is comparatively high.
Among Italian agricultural products, the most prominent are wheat for export, sugar, potatoes and sweet corn - and of course, grapes that are used for the Italian wine industry which is known all over the world A total of some 7% of the Italian labor force is employed in agriculture.
In 2024 the unemployment rate in Italy is 7.5%.



Among the notable industrial export products are industrial equipment, cars, aircraft, chemical products and there is a highly developed textile and clothing industry.
In the main, Italian exports to the countries of the European Union that provide a market for some 56% of these goods, with Germany being the main export destination.
Import to Italy is also mainly from the EU states (in excess of 60%) and here too Germany is the leading country.
Despite the critical problem of total lack of oil and the need to import most raw materials for industry, Italy is considered the sixth largest industrial economy in the world, indisputably a considerable achievement.

When compared to the 11 founding nations of the EMU (the Economic Monetary Union) the rate of inflation is within acceptable limits.
The rate of growth of the GDP in 2024 is 0.9% with an inflation rate of 1.6% .

Italy's GDP for 2023 is $58,754 per capita.
Italy's main export partners in 2024 were Germany,France and Spain.
In 2024 Italy's main imports were from Germany, France and Netherlands.
Italy is a member of a number of important international organizations in addition to the EU.
It is also a member of NATO.