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ITALY Tenders




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Capital Rome
ISO 3166 Code IT
Population 60,782,027
Area, Sq KM 301,230
Currency Euro
Official Language Italian
GDP, Billion USD 21,49,485
GDP Growth Rate, % -0.2
Inflation, Avg CP, % Chng N/A
Interest Rates, % N/A
Unemployement Rate, % 12.4
Exchange Rate, 1 USD Equals .88
International dial code 39
Time Zone GMT+01:00
Internet TLD .it

Italy is officially known as the Italian Republic and is a unitary parliamentary republic which is located in Southern Europe. The country covers a total area of 301,338 square kilometers. The country has 61 million inhabitants and it is the 4th most populous EU member state. Italy is an extremely developed country and it also has the world’s eighth largest economy and third largest in the Eurozone. The history of Italy can be traced back to the ancient times when various cultures have blossomed which was then eventually absorbed and adopted by Rome. The Italian culture thrived during the Renaissance in particular and it produced artists, scholars and polymaths like Leonardo da Vinci, Michelangelo and Galileo. After several unsuccessful attempts, the second and the third wars that took place in order to achieve independence resulted in the amalgamation of most of present-day Italy between the years 1859–66. Since late19th century and early 20th century, the country began to industrialize and obtained a colonial empire, thus becoming a Great Power. However despite its victory in the World War I, Italy suffered from a period of social turmoil as well as economic crisis which led to the establishment of a Fascist dictatorship. However, with time Italy managed to abolish the monarchy and reinstate democracy after which it witness prolonged economic boom and became one of the most developed nations and world’s 5th largest economy in the year 1990. Italy is also known to be an essential regional power as it plays a significant role in global as well as European military, diplomatic and cultural affairs. It also happens to be one of the founding and leading members of the European Union along with being a member of various international institutions like the UN, NATO, WTO, the OECD, the OSCE and the DAC along with the G6, G7, G8, G10 and G20 among many other. Italy is known to be the sixth largest manufacturing country and there are numerous small and medium sized industries in the country operating quite successfully. Italy is regarded as one of the most industrialized nations in the world. It is also a leading country in exports and world trade. Being an extremely developed nation, Italy has the 8th highest quality of life in the world and ranks 25th in the Human Development Index. The per capita GDP in terms of purchasing power parity is reported to be approximately EU 27 on an average despite undergoing an economic crisis. The country is also known for its creative as well as innovative business.

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