Gross domestic product (GDP) in Italy 2024

This statistic shows the gross domestic product (GDP) in Italy from 1984 to 2018, with projections up until 2024. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. In 2018, the GDP in Italy was about 2.08 trillion U.S. dollars. See global GDP for a global comparison.

Italy's economy

After increasing significantly year-over-year, Italy’s gross domestic product (GDP) has gone through several fluctuations since the global economic crisis in 2008. The European Union’s third largest economy has experienced downturns, primarily due to inefficiency with regards to spending and incompetent leadership.

When analyzing the country’s budget balance, which is essentially the overall difference between revenues and spending, Italy has posted a negative balance, or a state deficit, every year over the past decade. However, their budget balance has improved noticeably every year since 2009. Since the country spent more than they earned, national debt continued to rise every year, most notably between 2008 and 2009, and continued to do so going into 2014. Italy’s dependency on funding from other countries will lead to further debt, unless it finds a way to decrease spending or increase revenues.

Despite the country’s ongoing recession, Italy’s GDP ranked the country in the top 10 countries with the largest gross domestic product in 2014, ahead of economically developed countries such as Canada and Australia. This implies that Italy’s economical struggles are more a result of inefficient spending rather than a lack of production.

Italy: Gross domestic product (GDP) in current prices from 1984 to 2024

GDP in billion U.S. dollars
2024*2,246.02
2023*2,182.54
2022*2,125.93
2021*2,070.11
2020*2,013.67
2019*1,988.64
20182,075.86
20171,950.7
20161,869.95
20151,833.2
20142,155.15
20132,131.16
2012 2,073.97
2011 2,278.38
2010 2,129.02
2009 2,190.7
2008 2,402.06
2007 2,206.11
2006 1,944.26
2005 1,855.66
2004 1,800.2
2003 1,572.35
2002 1,270.43
2001 1,163.11
2000 1,144.88
1999 1,250.17
1998 1,267.95
1997 1,240.4
1996 1,309.29
1995 1,171.4
1994 1,088.65
1993 1,055.48
1992 1,312.57
1991 1,236.94
1990 1,171
1989 938.27
1988 902.14
1987 814.27
1986 648.77
1985 458.07
1984 443.57
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Source

Release date

October 2019

Region

Italy

Survey time period

1984 to 2018

Supplementary notes

* Estimate.

Values have been rounded to provide a better understanding of the statistic.

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