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Indicators of economy in Italy

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.912 US Dollar per capita. In contrast, the GDP in Italy reached 31.770 US dollars per inhabitant, or 1,888.71 bn US Dollar in the whole country. Italy is one of the world's largest economies and is currently at rank 8. If this is calculated per inhabitant taking into account the purchasing power parity, then Italy is in the list of the world's richest countries in place 33.

Inflation in Italy was in 2021 at around 1.87%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 12.7% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Italy

Impact of the Covid-19 pandemic in 2020

The consequences of the Covid pandemic were not insignificant in Italy 2020. Overall, gross domestic product in 2020 fell from 2,009.38 billion US Dollar auf 1,888.71 billion US Dollar. With a drop of 6.0 percent, the economy in Italy suffered more significant losses than other countries.. The tourism sector alone slumped by around 61 percent. Fortunately, the unemployment rate actually fell from 9.9 to 9.2 percent. The country's gross debt increased by 8.9%. The inflation rate has fallen from 0.6 percent previously to -0.1 percent by the end of 2020.

Unemployment rates in percent 1991 - 2021

Economic performance 2020

 Italy
Total
Italy
per capita
EU
Total
EU
per capita
GDP1,888.71 bn USD31,769.97 USD15,291.93 tn USD29,710.69 USD
Gross national product1,923.56 bn USD32,356.27 USD15,330.84 tn USD29,786.28 USD


Italy ranked 20th in the Bloomberg Innovation Index in 2021. The index is calculated annually and most recently included 60 countries. The front-runner was South Korea. 23 of the 2000 largest listed companies in the world originate from Italy. This is determined annually in the Forbes Global 2000 list. The 10 largest companies in the country were in 2021:

Rank 73: Enel (Rome)
Rank 82: Intesa Sanpaolo (Turin)
Rank 135: Generali Group (Trieste)
Rank 285: Poste Italiane (Rome)
Rank 396: Telecom Italia (Rome)
Rank 461: Eni (Rome)
Rank 548: UniCredit (Milan)
Rank 690: Unipol Gruppo (Bologna)
Rank 869: Snam (San Donato Milanese)
Rank 885: Atlantia (Rome)

Development of the Gross domestic product in billion US Dollar 1960 - 2020


Household debt and deficits 2021


 Italy
Total
Italy
per capita
EU
Total
EU
per capita
Gross debt3,167.16 bn USD53,274.85 USD15,068.26 tn USD29,276.12 USD
Budget deficit151.77 bn USD2,552.96 USD799.24 bn USD1,552.84 USD


Im- and Exports 2020

 Italy
Total
Italy
per capita
EU
Total
EU
per capita
Imports485.81 bn USD8,171.88 USD7,340.01 bn USD14,260.90 USD
Exports556.45 bn USD9,360.12 USD7,939.04 bn USD15,424.75 USD


Development of imports and exports in billion US dollars 1970 - 2020

Exports
Imports



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