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- Overview: Since World War II the economy has changed from one based on
- agriculture into a ranking industrial economy, with approximately the same
- total and per capita output as France and the UK. The country is still
- divided into a developed industrial north, dominated by large private
- companies and state enterprises and an undeveloped agricultural south.
- Services account for 58% of GDP, industry 37%, and agriculture 5%.
- Most raw materials needed by industry and over 75% of energy requirements
- must be imported. The economic recovery that began in mid-1983 has continued
- through 1989, with the economy growing at an annual average rate of 3%.
- For the 1990s, Italy faces the problems of refurbishing a tottering
- communications system, curbing the increasing
- pollution in major industrial centers, and adjusting to the new
- competitive forces accompanying the ongoing economic integration of the
- European Community.
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- GDP: $803.3 billion, per capita $14,000; real growth rate 3.3% (1989 est.)
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- Inflation rate (consumer prices): 6.6% (1989 est.)
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