Italy`s Economic Crisis: A Tough Road Ahead

In 2017, the Gross Domestic Product (GDP) of Italy was about US$1.94 trillion and Italy was the world’s ninth biggest economy. The country was divided into two parts – a highly-industrialized and developed northern part, which produced approximately 75% of the nation’s wealth, and a less-developed, more agriculture-dependent southern part. Its economic structure revolved mainly around services and manufacturing. The services sector, which employed around 65% of the country’s total workforce, contributed almost three-quarters of the total GDP. The industry sector accounted for a quarter of Italy’s total production and engaged around 30% of the total workforce, while agriculture employed around 4.0% of the total workforce. The manufacturing sector, an important sub-sector within the industry sector, was run mainly by small and medium-sized enterprises...