This is the 3813th most frequent Russian word.
it
The Russian word "it" does not exist; "it" is translated to Russian as "оно" (neuter), "он" (he), or "она" (she), depending on gender.
In this sentence, 'это' refers to 'this' as a demonstrative pronoun introducing an item.
Это моя книга.
This is my book.
Here, 'это' serves as the object of the verb 'нравится', referring to something liked.
Мне это нравится.
I like it.
In this example, 'это' is used in the context of stating importance, serving as a neutral subject pointing to a concept.