Italy is one of the most significant countries in the Mediterranean region of Europe. It has been characterized as an advanced developed country which is nevertheless troubled by quite dramatic differentials between the industrialized manufacturing regions of the north and the agrarian regions of the south where unemployment tends to be high and welfare dependency is common (Sodaro, 2004). Italy has enjoyed a long history as a center of the arts and at the same time has a history of near constant internal political conflict. As a developed economy, Italy is a major participant in importing and exporting activities. Italy's exports are $501.4 billion while its imports are $498.6 billion (Global Edge, 2009). Important exporting partners are Germany, France, Spain, the United States, and Great Britain. In terms of imports, Italy's primary partners are Germany, France, China, the Netherlands, Belgium, and Spain. Not surprisingly, most of its major import and export partners come from the European Union of which Italy is a member.
Italy exports and imports many of the same products. Its major exports are mechanical machinery, metals and metal products, transport equipment, and chemicals. It also exports food, tobacco, and beverages. Major imports are energy minerals, metals and metal products, transport equipment, and chemicals (Italy: Fact Sheet, 2009). Italy also imports a substantial amount of consumer items in areas like clothing, foods, beverages, and tobac
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