Statistics for Italy
Crude oil :
Production: 99,200 bbl/day (2011 est.)
country comparison to the world: 49
Exports: 6,300 bbl/day (2010 est.)
country comparison to the world: 60
Imports: 1.591 million bbl/day (2010 est.)
country comparison to the world: 7
Petroleum:
Consumption: 1.454 million bbl/day (2011 est.)
country comparison to the world: 16
Production: 1.887 million bbl/day (2010 est.)
country comparison to the world: 12
Exports: 628,000 bbl/day (2010 est.)
country comparison to the world: 11
Imports: 70.37 billion cu m (2011 est.)
country comparison to the world: 5
According to the CIA Factbook and the U.S Energy Information Administration Italy is number 5 in importing Petroleum imports compared to other countres in the world. Italy is also number 7 in importing crude oil in the world. Furthermore from looking at these websites I learned that Italy is behind the United States in Petroleum consumption and production. Compared to the United States, which comes in at number 1 for Petroleum consumption and production Italy is number 16 for consumption and number 12 for production. However, from looking at U.S Energy Information Administration website I was able to see that Italy has increased in production in crude oil production from 1980 to 2012. Therefore I believe Italy is on the rise on production and consumption of crude oil. Also from looking at these websites I was able to compare Italy with Europe and see that Italy is behind Europe in production and consumption of crude oil as well. In addition I found out that Italy is dependent on other countries to meet its energy needs. I also learned that Italy has the second largest crude oil refining capacity in Europe behind Germany.
From learning more about energy used in Italy I came up with the following questions which are listed below.
Please feel free to comment with your answers below.
1. How could Italy increase its crude oil production to match that of the United States?
2. Why do you think Italy needs to export and import crude oil? How does this energy affect their country and in what ways is it used?
Crude oil :
Production: 99,200 bbl/day (2011 est.)
country comparison to the world: 49
Exports: 6,300 bbl/day (2010 est.)
country comparison to the world: 60
Imports: 1.591 million bbl/day (2010 est.)
country comparison to the world: 7
Petroleum:
Consumption: 1.454 million bbl/day (2011 est.)
country comparison to the world: 16
Production: 1.887 million bbl/day (2010 est.)
country comparison to the world: 12
Exports: 628,000 bbl/day (2010 est.)
country comparison to the world: 11
Imports: 70.37 billion cu m (2011 est.)
country comparison to the world: 5
According to the CIA Factbook and the U.S Energy Information Administration Italy is number 5 in importing Petroleum imports compared to other countres in the world. Italy is also number 7 in importing crude oil in the world. Furthermore from looking at these websites I learned that Italy is behind the United States in Petroleum consumption and production. Compared to the United States, which comes in at number 1 for Petroleum consumption and production Italy is number 16 for consumption and number 12 for production. However, from looking at U.S Energy Information Administration website I was able to see that Italy has increased in production in crude oil production from 1980 to 2012. Therefore I believe Italy is on the rise on production and consumption of crude oil. Also from looking at these websites I was able to compare Italy with Europe and see that Italy is behind Europe in production and consumption of crude oil as well. In addition I found out that Italy is dependent on other countries to meet its energy needs. I also learned that Italy has the second largest crude oil refining capacity in Europe behind Germany.
From learning more about energy used in Italy I came up with the following questions which are listed below.
Please feel free to comment with your answers below.
1. How could Italy increase its crude oil production to match that of the United States?
2. Why do you think Italy needs to export and import crude oil? How does this energy affect their country and in what ways is it used?
Italy has a diverse industrial economy and is dominated by private companies. In addition the economy of Italy is driven in large part by the manufacture of high quality consumer products. From research I also learned that Italy has an economic freedom score of 60.6 making it the 83rd free country in the 2013 index. Another item I learned about is how Italy is driven my medium and small family owned enterprises, which produce high quality consumer products. From reading on the CIA fact book I learned that the main industries include tourism, machinery, clothing, and food processing. Furthermore I learned about Italy`s agriculture which includes grapes,sugar beets, and potatoes. I also learned about Italy`s labor force which is 25.6 million people or 25th in the world overall. In addition I learned about Italy`s export partners. These partners include France,Germany, the United States, the United Kingdom, and Switzerland. Overall Italy has a strong economy with an unemployment rate of only 10.6 percent or 114 in the world.
Italy is continuing to have an industrial economy and focus on manufacturing and producing products. However their economy is much stronger than people think. In fact Italy has the 8th largest economy in the world and has been a relatively stable economy over time. Italy continues to be a dynamic economy diverse manufacturing sector. In addition Italy has a low level of private debt and other financial liabilities. However on a negative note Italy`s current economic ties with the United States are unbalanced and not strong. Furthermore a new report released by PressTV shows Italy`s economy is about to shrink. In fact the National Institute for Statistics said that the country`s gross domestic product is expected to decrease by 1.8 percent. This is due to the after facts Italy felt from the recession in 2008.
Italy has 3 economic factors which influence its economy. These are unemployment rates, taxes, and public debt. Due to having an unemployment rate of 10.6 percent Italy is able to have most of its citizens in jobs. When compared to the United States which has an unemployment rate of 7.6, Italy is around 3 percent higher. Therefore this means less jobs and less money being earned in Italy. This also means people may need more aid in Italy because 3 percent more people are out of work. Also when looking at unemployment the United Kingdom has a rate of 7.7 percent which is also lower than Italy. Another example would be looking at the unemployment rate of Germany which is only 5.5 percent. This shows that Germany has more jobs and revenue than Italy, the United States, and the United Kingdom. When comparing other economic factors you can compare the use of resource in these countries. For example the United States uses about 25 percent of the worlds natural resources. Compared to Germany and the United Kingdom who use ( ). Furthermore when looking at public debt Germany comes in at 81.9%, which compared to the world they come in at 28th. Germany compared to Italy does a lot better because Italy has 127% in public debt. This makes Italy come in at 7th in the world for public debt. When comparing Italy to the United Kingdom I found out that the Uk has a public debt of 90% or 19th in the world. This means that Italy has more public debt than both Germany and the United Kingdom. Another economic factor that influences Italy is taxes. When looking at Italy I found their takes come in at 48.3% or 17th in the world. next I compared this to Germany and the united Kingdom. I found that Germany has 45.1% in taxes , which comes to 24th in the world. I also looked at the United Kingdom which came in at 40.4% for taxes or 42nd in the world. This means that all 3 countries have similar taxes rates , but Italy comes in the highest at 48.3%. These economic factors helped me to learn more about Italy and how the economy effects this country.
GDP per capita: $30,600 ( 2012)
When comparing Italy to the world they come in at 48th.
Italy is continuing to have an industrial economy and focus on manufacturing and producing products. However their economy is much stronger than people think. In fact Italy has the 8th largest economy in the world and has been a relatively stable economy over time. Italy continues to be a dynamic economy diverse manufacturing sector. In addition Italy has a low level of private debt and other financial liabilities. However on a negative note Italy`s current economic ties with the United States are unbalanced and not strong. Furthermore a new report released by PressTV shows Italy`s economy is about to shrink. In fact the National Institute for Statistics said that the country`s gross domestic product is expected to decrease by 1.8 percent. This is due to the after facts Italy felt from the recession in 2008.
Italy has 3 economic factors which influence its economy. These are unemployment rates, taxes, and public debt. Due to having an unemployment rate of 10.6 percent Italy is able to have most of its citizens in jobs. When compared to the United States which has an unemployment rate of 7.6, Italy is around 3 percent higher. Therefore this means less jobs and less money being earned in Italy. This also means people may need more aid in Italy because 3 percent more people are out of work. Also when looking at unemployment the United Kingdom has a rate of 7.7 percent which is also lower than Italy. Another example would be looking at the unemployment rate of Germany which is only 5.5 percent. This shows that Germany has more jobs and revenue than Italy, the United States, and the United Kingdom. When comparing other economic factors you can compare the use of resource in these countries. For example the United States uses about 25 percent of the worlds natural resources. Compared to Germany and the United Kingdom who use ( ). Furthermore when looking at public debt Germany comes in at 81.9%, which compared to the world they come in at 28th. Germany compared to Italy does a lot better because Italy has 127% in public debt. This makes Italy come in at 7th in the world for public debt. When comparing Italy to the United Kingdom I found out that the Uk has a public debt of 90% or 19th in the world. This means that Italy has more public debt than both Germany and the United Kingdom. Another economic factor that influences Italy is taxes. When looking at Italy I found their takes come in at 48.3% or 17th in the world. next I compared this to Germany and the united Kingdom. I found that Germany has 45.1% in taxes , which comes to 24th in the world. I also looked at the United Kingdom which came in at 40.4% for taxes or 42nd in the world. This means that all 3 countries have similar taxes rates , but Italy comes in the highest at 48.3%. These economic factors helped me to learn more about Italy and how the economy effects this country.
GDP per capita: $30,600 ( 2012)
When comparing Italy to the world they come in at 48th.
References:
"Central Intelligence Agency." The World Factbook. N.p., n.d. Web. 30 Oct. 2013. <https://www.cia.gov/library/publications/the-world-factbook/geos/it.html>.
"Central Intelligence Agency." The World Factbook. N.p., n.d. Web. 30 Oct. 2013. <https://www.cia.gov/library/publications/the-world-factbook/geos/uk.html>.
"Italy." Economy: Population, GDP, Inflation, Business, Trade, FDI, Corruption. N.p., n.d. Web. 30 Oct. 2013. <http://www.heritage.org/index/country/italy>.
"PressTV - Italy's economy to shrink further in 2013: Official report." PressTV - Italy's economy to shrink further in 2013: Official report. N.p., n.d. Web. 30 Oct. 2013. <http://www.presstv.ir/detail/2013/11/04/332957/italian-economy-to-shrink-in-2013/>.
Sensenbrenner, Frank. "Italy's Economy Is Much Stronger Than It Seems." The Huffington Post. TheHuffingtonPost.com, 7 June 2013. Web. 30 Oct. 2013. <http://www.huffingtonpost.com/frank-sensenbrenner/italy-economy_b_3401988.html>.
"U.S. Energy Information Administration - EIA - Independent Statistics and Analysis." Italy. N.p., n.d. Web. 30 Oct. 2013. <http://205.254.135.7/countries/country-data.cfm?fips=IT&trk=m>.
"Central Intelligence Agency." The World Factbook. N.p., n.d. Web. 30 Oct. 2013. <https://www.cia.gov/library/publications/the-world-factbook/geos/it.html>.
"Central Intelligence Agency." The World Factbook. N.p., n.d. Web. 30 Oct. 2013. <https://www.cia.gov/library/publications/the-world-factbook/geos/uk.html>.
"Italy." Economy: Population, GDP, Inflation, Business, Trade, FDI, Corruption. N.p., n.d. Web. 30 Oct. 2013. <http://www.heritage.org/index/country/italy>.
"PressTV - Italy's economy to shrink further in 2013: Official report." PressTV - Italy's economy to shrink further in 2013: Official report. N.p., n.d. Web. 30 Oct. 2013. <http://www.presstv.ir/detail/2013/11/04/332957/italian-economy-to-shrink-in-2013/>.
Sensenbrenner, Frank. "Italy's Economy Is Much Stronger Than It Seems." The Huffington Post. TheHuffingtonPost.com, 7 June 2013. Web. 30 Oct. 2013. <http://www.huffingtonpost.com/frank-sensenbrenner/italy-economy_b_3401988.html>.
"U.S. Energy Information Administration - EIA - Independent Statistics and Analysis." Italy. N.p., n.d. Web. 30 Oct. 2013. <http://205.254.135.7/countries/country-data.cfm?fips=IT&trk=m>.