Part 365

Diplomatic representation in US: chief of mission: Ambassador Ferdinando SALLEO chancery: 1601 Fuller Street NW, Washington, DC 20009 telephone: (202) 328-5500 FAX: (202) 483-2187 consulate(s) general: Boston, Chicago, Houston, Miami, New York, Los Angeles, Philadelphia, San Francisco consulate(s): Detroit and New Orleans

US diplomatic representation: chief of mission: Ambassador Reginald BARTHOLOMEW embassy: Via Veneto 119/A, 00187-Rome mailing address: PSC 59, Box 100, Rome; APO AE 09624 telephone: (6) 46741 FAX: (6) 488-2672 consulate(s) general: Florence, Milan, Naples

Flag: three equal vertical bands of green (hoist side), white, and red; similar to the flag of Ireland, which is longer and is green (hoist side), white, and orange; also similar to the flag of the Cote d'Ivoire, which has the colors reversed - orange (hoist side), white, and green

Economy -------

Economic overview: Since World War II, the Italian 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 private companies, and an undeveloped agricultural south, dominated by large public enterprises. Most raw materials needed by industry and over 75% of energy requirements must be imported. In the second half of 1992, Rome became unsettled by the prospect of not qualifying to participate in EU plans for economic and monetary union later in the decade; thus, it finally began to address its huge fiscal imbalances. Subsequently, the government has adopted fairly stringent budgets, abandoned its inflationary wage indexation system, and started to scale back its generous social welfare programs, including pension and health care benefits. Monetary officials were forced to withdraw the lira from the European monetary system in September 1992, when it came under extreme pressure in currency markets. For the 1990s, Italy faces the problems of pushing ahead with fiscal reform, refurbishing a tottering communications system, curbing pollution in major industrial centers, and adjusting to the new competitive forces accompanying the ongoing expansion and economic integration of the EU.

GDP: purchasing power parity - $1.0886 trillion (1995 est.)

GDP real growth rate: 3.2% (1995 est.)

GDP per capita: $18,700 (1995 est.)

GDP composition by sector: agriculture: 2.9% industry: 31.6% services: 65.5% (1994)

Inflation rate (consumer prices): 5.4% (1995)

Labor force: 23.988 million by occupation: services 58%, industry 32.2%, agriculture 9.8% (1988)

Unemployment rate: 12.2% (January 1995)

Budget: revenues: $339 billion expenditures: $431 billion, including capital expenditures of $NA (1994 est.)

Industries: tourism, machinery, iron and steel, chemicals, food processing, textiles, motor vehicles, clothing, footwear, ceramics

Industrial production growth rate: 5.5% (1995 est.)

Electricity: capacity: 61,630,000 kW production: 209 billion kWh consumption per capita: 4,033 kWh (1993)

Agriculture: fruits, vegetables, grapes, potatoes, sugar beets, soybeans, grain, olives; meat and dairy products; fish catch of 525,000 metric tons in 1990

Illicit drugs: important gateway country for Latin American cocaine and Southwest Asian heroin entering the European market

Exports: $190.8 billion (f.o.b., 1994) commodities: metals, textiles and clothing, production machinery, motor vehicles, transportation equipment, chemicals partners: EU 53.4%, US 7.8%, OPEC 3.8% (1994)

Imports: $168.7 billion (c.i.f., 1994) commodities: industrial machinery, chemicals, transport equipment, petroleum, metals, food, agricultural products partners: EU 56.3%, OPEC 5.3%, US 4.6% (1994)

External debt: $67 billion (1993 est.)

Economic aid: donor: ODA, $3.043 billion (1993)

Currency: 1 Italian lira (Lit) = 100 centesimi

Exchange rates: Italian lire (Lit) per US$1 - 1,583.8 (January 1996), 1,629.6 (1995), 1,612.4 (1994), 1,573.7 (1993), 1,232.4 (1992), 1,240.6 (1991)

Fiscal year: calendar year

Transportation --------------

Railways: total: 18,961 km standard gauge: 17,981 km 1.435-m gauge; Italian Railways (FS) operates 16,118 km of the total standard gauge routes (10,560 km electrified) narrow gauge: 113 km 1.000-m gauge (113 km electrified); 867 km 0.950-m gauge (144 km electrified)

Highways: total: 305,388 km (including 45,076 km major roads, 112,111 km secondary roads, 6,301 km motorways) paved: 271,674 km unpaved: 33,714 km (1991 est.)