Includes Italy real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Italy economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Italy best banks and safest banks are also available.
Basic Information
Government Type: Parliamentary republic
Capital City: Rome
GDP & Economic Information
Macroeconomy & Sovereign Data
| Central Bank |
Bank of Italy |
|---|---|
| Currency |
Euros (EUR) |
| International Reserves |
USD 210.69 billion (2020) World Bank, last updated 12/16/2021 |
| Gross Domestic Product – GDP | USD 2,072.2 billion (2018, estimate) |
| GDP (Purchasing Power Parity) |
USD 2,120.23 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP Data
| Real GDP growth |
2017 1.7% 2018 0.9% 2019 0.3% 2020 –8.9% (Estimate) 2021 5.8% (Estimate) |
|---|---|
| GDP per capita – current prices |
USD 35,584.88 (2021 estimate) IMF – World Economic Outlook, October 2021 |
| GDP per capita – PPP |
USD 45,267.35 (2021 estimate) IMF – World Economic Outlook, October 2021 |
| GDP (PPP) – share of world total |
1.87% (2021 estimate) IMF – World Economic Outlook, October 2021 |
| GDP – composition by sector |
agriculture: 2.0% industry: 21.5% services: 66.8% (2020) |
| Gross domestic expenditure on R&D; (% of GDP) | 1.5% (2019) |
| Inflation |
2017 1.3% 2018 1.2% 2019 0.6% 2020 –0.1% (Estimate) 2021 1.7% (Estimate) |
Italy
Capital Raising & Corporate Finance
CFO Corner: Prysmian’s Facchini Appreciates Investor Insights
Capital Raising & Corporate Finance
CFO Corner: Massimo Ferrari, Webuild
Inflation & Debt
| Inflation |
2017 1.3% 2018 1.2% 2019 0.6% 2020 –0.1% (Estimate) 2021 1.7% (Estimate) |
|---|---|
| Government Bond Ratings |
Standard & Poor’s: BBB Moody’s: Baa3 Standard & Poor’s / Moody’s (January 2022) |
| Unemployment rate |
2017 11.3% 2018 10.7% 2019 10% 2020 9.3% (Estimate) 2021 10.3% (Estimate) |
| Household saving rates |
10.2% (2020) |
| Public debt (General government gross debt as a % of GDP) |
2017 134.1% 2018 134.4% 2019 134.6% 2020 155.8% (Estimate) 2021 154.8% (Estimate) |
| Public deficit (General government net lending/borrowing as a % of GDP) |
2017 1.2% 2018 1.3% 2019 1.7% 2020 –6.2% (Estimate) 2021 –7.1% (Estimate) |
| Market value of publicly traded shares |
USD 587.3 billion (2014) |
| Largest Companies |
Enel, Intesa Sanpaolo, Generali Group, Poste Italiane, Telecom Italia, Eni, UniCredit, Unipol Gruppo, Snam, Atlantia, Mediobanca, Terna, Ferrari, Leonardo, Banca Mediolanum, Banco BPM, FinecoBank, Banca MPS, BPER Banca, Credito Emiliano, A2A, Banca Popolare di Sondrio, Cattolica Assicurazioni Forbes Global 2000 (2021) |
Import/Export
| Exports as percent of GDP (Exports of goods and services) |
29.4% (2020) |
|---|---|
| Shares in world total merchandising export |
2.8% (2020) |
| Shares in world total commercial services export |
1.7% (2020) |
| Total exports |
USD 556.9 billion (2020 estimate) |
| Export commodities |
Packaged medicines, cars and vehicle parts, refined petroleum, valves, trunks/cases, wine (2019) |
| Total imports |
USD 485.9 billion (2020 estimate) |
| Import commodities |
Crude petroleum, cars, packaged medicines, natural gas, refined petroleum (2019) |
| Exports – major partners |
Germany 12%, France 11%, United States 10%, United Kingdom 5%, Spain 5%, Switzerland 5% (2019) |
| Imports – major partners |
Germany 16%, France 9%, China 7%, Spain 5%, Netherlands 5%, Belgium 5% (2019) |
Competitiveness & Trade
| Current account balance |
USD 78.8 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
|---|---|
| Current account balance by percentage of GDP |
3.7% (2021 estimate) IMF – World Economic Outlook, October 2021 |
| FDI inflows |
2019 USD 37.7 billion 2020 USD 18 billion 2021 USD –388 million |
| FDI Outflows |
2018 USD –5 billion 2019 USD 34.3 billion 2020 USD 5.7 billion 2021 USD 5.7 billion |
| Value of cross-border M&A, by country of purchaser |
N/A United Nations Conference on Trade and Development (UNCTAD) – World Investment Report |
| Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
| Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
| Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 58 out of 190 countries Subcategories: Starting a Business: 98 out of 190 countries Dealing with Construction Permits: 97 out of 190 countries Getting Electricity: 38 out of 190 countries Registering Property: 26 out of 190 countries Getting Credit: 119 out of 190 countries Protecting Minority Investors: 51 out of 190 countries Paying Taxes: 128 out of 190 countries Trading across Borders: 1 out of 190 countries Enforcing Contracts: 122 out of 190 countries Resolving Insolvency: 21 out of 190 countries World Bank – Doing Business 2020 |
| Global competitiveness ranking |
80 out of 141 (2019) |
| Index of Economic Freedom |
Ranking: 57 / Score: 65.4 (Moderately Free) The Heritage Foundation – 2022 Index of Economic Freedom |
Population & Geographic Data
| Time Zone |
UTC+1 |
|---|---|
| Total Area |
301,340 sq km |
| Total Population |
1990 56.69 million 2000 56.92 million 2010 59.71 million 2015 60.8 million 2020 60.23 million (Estimate) |
| Urban population as % of total population |
1960 59.4% 1980 66.6% 2000 67.2% 2018 70.4% |
| Population median age |
45.8 CIA World Factbook / Population median age |
| Population growth rate |
0.16% (2018 estimate) |
| Life expectancy |
82.4 years (2018 estimate) |
| % of population living on less than $3.10 a day |
N/A |
| Inequality of wealth distribution (Gini index) |
35.4 (2015) (0=perfect equality, 100=absolute inequality) |
| Freedom House rating |
Political Rights: 1 Civil Liberties: 1 (2019) (1 represents the most free, 7 the least free rating) |
| Total telephone subscribers as % of population |
Fixed: 33.6% Mobile: 137.5% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
| Internet users as % of total population |
74.39 % (2018) |
Language & Religon
| Languages |
Italian (official), German (parts of Trentino-Alto Adige region are predominantly German speaking), French (small French-speaking minority in Valle d’Aosta region), Slovene (Slovene-speaking minority in the Trieste-Gorizia area) |
|---|---|
| Literacy |
Total population: 99.2% Male: 99.4% Female: 99% Definition: age 15 and over can read and write (2015 est.) |
| Religions |
Christian 83.3% (overwhelmingly Roman Catholic with very small groups of Jehovah’s Witnesses and Protestants), Muslim 3.7%, unaffiliated 12.4%, other 0.6% (2010 est.) |
World Rankings
| Population | 60.23 M |
|---|---|
| Mercer Cost of living index |
Milan: 45th Rome: 55th (2019) |
| C02 Emissions per capita |
5.27 metric tons per capita (2014) |
Global Finance Rankings & Awards: Italy
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000