Italy

italy-italia-flag-of-italy-italian-flag-flag (1)

Italy

h-e-roberto-cingolani-minister-of-economic-development

H.E Roberto Cingolani

Minister for the Ecological Transition

ITALY

Location Description

Italy is a Country located in the Southern Europe at the center of the Mediterranean and member of the European Union. It borders France, Switzerland, Austria, Slovenia and San Marino and the Vatican City are enclaved in it.

Geographical Information

It is a peninsula enclosed by the Alps and the Mediterranean Sea. The Italian islands of Sicily and Sardinia, are the largest islands in the Mediterranean. Italy is mostly rugged and mountainous country with some coastal lowlands. There are two major mountain ranges, the Alps in the North that cut across the top of the country and the Apennines which form the backbone of the peninsula.

General Information

Capital: Rome;

language: Italian;

religion: Italy is a secular state. Catholicism is the dominant religion;

currency: Italy was one of the first countries to adopt Euro in January 1999.

Political Regime

Italy is a Parliamentary Republic. The President of the Republic or Head of State is elected by the Parliament for a single seven years mandate. The President of the Republic appoints the Prime Minister and, on his proposal, the ministers that form its Cabinet (Council of Ministers).

Brief on the Economy

Italy is the third-largest economy in the euro zone. Its economy is composed of a high-developed industrial sector with major private companies recognized worldwide. The Italian economy is dominated by the manufacture of high-quality consumer goods by SME and family owned businesses, as well as agriculture, construction, and service sectors.

Brief on the Energy Sector

Italy is engaged in pursuing decarbonization objectives in energy and climate fields, having established its contributions to the achievement of European targets by 2030 in the National Integrated Energy and Climate Plan – NECP and to climate neutrality in the Long Term Strategy by 2050. To reach these decarbonization goals, among other measures, Italy foresees the gradually phasing-out from coal for electricity generation mix based on a growing renewable energy share and for the remainder, gas. Italy is the second-largest natural gas importer in Europe through pipelines from Russia, Algeria, Libya, Azerbaigian. Italy is the fourth-largest energy consumer in Europe; its primary energy consumption is driven by petroleum and natural gas.

Major Indicators

Land (Sq.km): the country covers a total area of 301,340 km (116,350 sq mi);
Population: 60,48 million (2020);
Time Zone: GMT + 1;
GDP (Current billion US$): 2,469 billion USD (2020) ;
GDP per capita (Current US$): 41.108 (US Dollar/capita) (2020) ;
GDP growth (Percentage): 0.3% (2019) ;
Proven natural gas reserves (billion c.m.): 48.5 billion cubic meters;
Domestic natural gas consumption (billion c.m.): 71,036 million standard cubic meters, for the year 2020.

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