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==Economy==
==Economy==
[[File:Banca Commerciale Italiana Milan.JPG|thumb|300px|Palace of the "Banca Commerciale Italiana", Milan.]]
[[File:Banca Commerciale Italiana Milan.JPG|thumb|300px|Palace of the "Banca Commerciale Italiana", Milan.]]
The Italian economy has changed dramatically since the end of World War II. From an agricultural-based economy, it has developed into an industrial state ranked as the world's sixth-largest market economy. Italy belongs to the Group of Eight (G-8) industrialized nations; it is a member of the European Union and the Organization for Economic Cooperation and Development (OECD).
The Italian economy has changed dramatically since the end of World War II. From an agricultural-based economy, it has developed into an industrial state ranked as the world's eighth-largest economy. Italy belongs to the Group of Seven (G-7) industrialized nations; it is a member of the European Union and the Organization for Economic Cooperation and Development (OECD).
Italy has few natural resources. With much land unsuited for farming, Italy is a net food importer. There are no substantial deposits of iron, coal, or oil. Proven natural gas reserves, mainly in the Po Valley and offshore Adriatic, constitute the country's most important mineral resource. Most raw materials needed for manufacturing and more than 80% of the country's energy sources are imported. Italy's economic strength is in the processing and the manufacturing of goods, primarily in small and medium-sized family-owned firms. Its major industries are precision machinery, motor vehicles, chemicals, pharmaceuticals, electric goods, and fashion and clothing.
Italy has few natural resources. With much land unsuited for farming, Italy is a net food importer. There are no substantial deposits of iron, coal, or oil. Proven natural gas reserves, mainly in the Po Valley and offshore Adriatic, constitute the country's most important mineral resource. Most raw materials needed for manufacturing and more than 80% of the country's energy sources are imported. Italy's economic strength is in the processing and the manufacturing of goods, primarily in small and medium-sized family-owned firms. Its major industries are precision machinery, motor vehicles, chemicals, pharmaceuticals, electric goods, and fashion and clothing.