Italy’s gross domestic product expanded by 0.2% quarter-on-quarter in the last three months of 2023, the same pace of growth as in the previous period and matching the preliminary estimate. This increase was due to net exports (0.4%) as domestic demand (-0.2%) remained weak. Meanwhile, gross fixed capital formation and general government expenditure also made a positive contribution to GDP of 0.5% and 0.1%, respectively. On the production side, industry (1.1%) expanded, while agriculture (-0.3%) and services (-0.1%) contracted. Annually, Italy's economy advanced by 0.6%, exceeding the initial forecast of 0.5% rise. In the entire 2023, a workday-adjusted GDP grew by 0.9%, marginally above the most recent estimate of 0.8%. Moving forward, the Treasury predicts a growth rate of 1.2% for 2024. However, most independent bodies anticipate a more modest figure ranging between 0.6% and 0.8%, similar to the one observed in 2023. source: National Institute of Statistics (ISTAT)

The Gross Domestic Product (GDP) in Italy expanded 0.17 percent in the fourth quarter of 2023 over the previous quarter. GDP Growth Rate in Italy averaged 0.57 percent from 1960 until 2023, reaching an all time high of 14.09 percent in the third quarter of 2020 and a record low of -11.84 percent in the second quarter of 2020. This page provides - Italy GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Italy GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.

The Gross Domestic Product (GDP) in Italy expanded 0.17 percent in the fourth quarter of 2023 over the previous quarter. GDP Growth Rate in Italy is expected to be 0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Italy GDP Growth Rate is projected to trend around 0.30 percent in 2025 and 0.20 percent in 2026, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-01-30 09:00 AM QoQ Adv Q4 0.2% 0.1% 0% 0.1%
2024-03-05 09:00 AM QoQ Final Q4 0.2% 0.2% 0.2% 0.2%
2024-04-30 08:00 AM QoQ Adv Q1 0.2% 0.2% 0.1%


Related Last Previous Unit Reference
Full Year GDP Growth 0.90 4.00 percent Dec 2023
GDP Growth Rate YoY 0.64 0.51 percent Dec 2023
GDP Constant Prices 448551.10 447810.00 EUR Million Dec 2023
GDP from Agriculture 7637.50 7664.00 EUR Million Dec 2023
GDP from Construction 23331.20 22283.00 EUR Million Dec 2023
GDP from Manufacturing 76232.50 76125.00 EUR Million Dec 2023
GDP from Services 298738.10 298945.00 EUR Million Dec 2023
GDP Growth Rate 0.17 0.24 percent Dec 2023
Gross Fixed Capital Formation 101298.50 98928.00 EUR Million Dec 2023

Italy GDP Growth Rate
Italy is the ninth largest economy in the world and the third largest in the Euro Zone. The country has a diversified industrial base driven in large part by manufacturing of high-quality consumer goods. Composition of the GDP on the expenditure side: household consumption (61 percent), government expenditure (19 percent) and gross fixed capital formation (17 percent). Exports of goods and services account for 30 percent of GDP while imports for 27 percent, adding 3 percent to total GDP.
Actual Previous Highest Lowest Dates Unit Frequency
0.17 0.24 14.09 -11.84 1960 - 2023 percent Quarterly
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News Stream
Italy GDP Growth Confirmed at 0.2% in Q4
Italy’s gross domestic product expanded by 0.2% quarter-on-quarter in the last three months of 2023, the same pace of growth as in the previous period and matching the preliminary estimate. This increase was due to net exports (0.4%) as domestic demand (-0.2%) remained weak. Meanwhile, gross fixed capital formation and general government expenditure also made a positive contribution to GDP of 0.5% and 0.1%, respectively. On the production side, industry (1.1%) expanded, while agriculture (-0.3%) and services (-0.1%) contracted. Annually, Italy's economy advanced by 0.6%, exceeding the initial forecast of 0.5% rise. In the entire 2023, a workday-adjusted GDP grew by 0.9%, marginally above the most recent estimate of 0.8%. Moving forward, the Treasury predicts a growth rate of 1.2% for 2024. However, most independent bodies anticipate a more modest figure ranging between 0.6% and 0.8%, similar to the one observed in 2023.
2024-03-05
Italy Q4 Growth Beats Forecasts
Italy’s gross domestic product expanded by 0.2 percent quarter-on-quarter in the last three months of 2023, following a 0.1 percent growth in the previous period and surpassing expectations that expected a stall, preliminary data showed. This growth was solely due to net exports as domestic demand remained weak. Industry and services contributed to the growth, while agriculture contracted. On an annual basis, Italy's economy expanded by 0.5 percent, exceeding the consensus of 0.3 percent. Regarding the full 2023, preliminary figures for indicate a workday-adjusted GDP expansion of 0.7 percent. Moving forward, the Treasury predicts a growth rate of 1.2 percent for 2024. However, most independent bodies anticipate a more modest figure ranging between 0.6 percent and 0.8 percent, similar to the rate observed in 2023.
2024-01-30
Italy GDP Revised Higher in Q3
The Italian GDP edged up by 0.1% from the previous quarter in the three months up to September 2023, coming slightly above the preliminary estimate of 0% and following the 0.4% contraction in the three months to June, final reading showed. The revision was linked to strong net foreign demand (1% vs -0.7%) and firm household consumption (0.4% vs 0%). Both fixed investment (0% vs -0.4%) and government spending (0% vs -0.2%) were unchanged. On the other hand, the fall in inventories contributed negatively to the GDP by 1.3%. On the production side, industry (0.3%) and services (0.1%) recorded timid increases, while the primary agricultural sector decreased by 1.2%. Yearly, the GDP went up by 0.1%, compared the previous estimate of 0% and after 0.3% expansion in the second quarter.
2023-12-01