We'll assume you're ok with this, but you can opt-out if you wish. However since 2007, Spain’s clothing exports have increased by more than €4bn. The economy of Spain is the world's thirteenth-largest by nominal GDP as well as one of the largest in the world by purchasing power parity.The country is a member of the European Union, the Organization for Economic Co-operation and Development and the World Trade Organization. Italy. Explore similarities and differences. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. Altogether, non-financial (consolidated) private sector debt amounts to 113% of GDP in Italy, as opposed to 139% in Spain. The problem is that, currently, Spanish fiscal policy has very little margin for expansive strategies in the future. Nevertheless, if current conditions were maintained the outcome would be more constrained, and not put at risk the stability of countries like Spain. Countries . Spain’s total output is 35 per cent larger than in 2000. level of public debt as a percentage of GDP. Italy vs Spain. Thus, although the burden of debt is less in Spain, our fiscal margin in case of a stress scenario would be less. Italy became a nation-state in 1861 when the regional states of the peninsula, along with Sardinia and Sicily, were united under King Victor EMMANUEL II. Three pieces of data demonstrate its strengths: its capacity for financing reaches 2.7% of GDP, compared to 2.2% for Spain; its current account surplus will exceed 2.5% in 2018 and 2019, while Spain’s is estimated at 1.5%; and the deficit on its net international investment position rises to -7.8% of GDP (far from the -35% limit set by Brussels for being considered unbalanced) as opposed to 80,2%. Italy is the world’s third-largest exporter of apparels and clothing, while Spain is the eighth. The difference can be justified in terms of the gap in growth between the two country’s in the current expansion. Keep abreast of significant corporate, financial and political developments around the world. Spain. Now “the waters appear to have calmed”, and in fact last Thursday’s emission of Italian debt was not the centre  of attention. called into question the Euro project in the Eurozone’s third largest economy. Stay informed and spot emerging risks and opportunities with independent global reporting, expert © Consejeros del Capital Social CDC Group. The economy of Italy is the third-largest national economy in the European Union, the eighth-largest by nominal GDP in the world, and the 12th-largest by GDP (PPP). In addition, these levels of household debt in Italy enjoy an additional cushion in the margin of savings, which reaches 9,7% of gross disposable income in Q1 2018, as opposed to 5% for Spain. Italy has to keep its deficit below the threshold ceiling of 3.0% as this is one of the EU convergence criteria, also known as Maastricht criteria. The second major question that favors our country is the level of public debt as a percentage of GDP. Now, What about Spain? Finally, the external perspective also favors Italy. Country comparison Spain vs Italy 2020. 0.6 years longer life expectancy at birth? Country comparison, you can compare any two countries and see the data side by side. But the key is the capacity for future growth. Doubts about the country grew, rapidly revaluing the credit risk assigned to its sovereign debt. As someone who as lived in both countries (Madrid in Spain and Milan in Italy) I can tell you the following things: 1. The key moment is likely to come at the end of the summer or in the autumn when the drafting of the Italian budget will coincide with the revision of the opinions of the ratings agencies. After a career break, how do I get into the environmental sector? Information about your device and internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. An era of parliamentary government came to a close in the early 1920s when Benito MUSSOLINI established a Fascist dictatorship. This site is managed by the Directorate-General for Communication, Aid, Development cooperation, Fundamental rights, Follow the European Commission on social media. Are we really better than Italy? First, we have to understand that European countries can be A)“Great Powers” B)“Middle Powers” C) “Small powers”. Economic forecast for Italy; Economic forecast for Italy. GDP per capita (Euros) Spain vs Italy comparison. You can change your choices at any time by visiting Your Privacy Controls. Italy is a founding member of the European Union, the Eurozone, the OECD, the G7 and the G20; it is the eighth-largest exporter in the world, with $514 billion exported in 2016. In principle, this situation should be seen as a scenario for tension rather than rupture, in other words “we don’t expect blood in the river”, although contagion to other peripheral economies could be possible. Italy: At a glance. Find out more about how we use your information in our Privacy Policy and Cookie Policy. The weak bases for growth in the Italian economy are shown in its GDP performance this century: Italy has grown 4.5% compared to 36% in Spain. For various reasons. A sunny country Economic … 85.2 years vs 85 years; This is shown in simulations carried out by the Independent Authority for Fiscal Responsibility (Airef). Italy and Spain living comparison. 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