where does italy's economy rank in the world
Economy of Italy The economy of Italy is the 3rd-largest national economy in the eurozone, the 8th-largest by nominal GDP in the world, and the 12th-largest by GDP (PPP). The country is a founding member of the European Union, the Eurozone, the OECD, the G7 and the G20. Italy is the eighth largest exporter in the world with $514 billion exported in 2016. Its closest trade ties are with the other countries of the European Union, with whom it conducts about 59% of its total trade. The largest trading partners, in order of market share, are Germany (12.6%), France (11.1%), United States (6.8%), Switzerland (5.7%), United Kingdom (4.7%), and Spain (4.4%).[14]
United States The United States is the world's oldest surviving federation. The federal republic  is a representative democracy, "in which majority rule is tempered by minority rights protected by law".[28] The United States is a founding member of the United Nations, World Bank, International Monetary Fund, Organization of American States (OAS), and other international organizations. The United States is a highly developed country, with the world's largest economy by nominal GDP and second-largest economy by PPP, accounting for approximately a quarter of global GDP.[29] The U.S. economy is largely post-industrial, characterized by the dominance of services and knowledge-based activities, although the manufacturing sector remains the second-largest in the world.[30] The United States is the world's largest importer and the second largest exporter of goods, by value.[31][32] Although its population is only 4.3% of the world total,[33] the U.S. holds 33% of the total wealth in the world, the largest share of global wealth concentrated in a single country.[34] The United States ranks among the highest nations in several measures of socioeconomic performance, including average wage,[35] human development, per capita GDP, and productivity per person.[36] The United States is the foremost military power in the world, making up a third of global military spending,[37] and is a leading political, cultural, and scientific force internationally.[38]
World's fair Expo 2020 will be held in Dubai, United Arab Emirates, as a Registered Exposition.
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