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Indicators of economy in Italy

The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,230 USD per capita. GDP in Italy, on the other hand, reached USD 35,657 per capita, or 2.108 trillion USD for 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 purchasing power parity into account, then Italy ranks 31st in the list of the richest countries.

Inflation in Italy in 2021 was around 1.87%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 13.8 percent lower.
The index for perceived corruption in the public sector is 56, which is rather mediocre by global standards.


Back to overview: Italy

Impact of the COVID-19 pandemic

The consequences of the COVID pandemic were not insignificant in Italy 2020. Overall, gross domestic product in 2020 fell from 2.011 trillion US dollars to 1.897 trillion US dollars. With a drop of 5.7 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 percent. The inflation rate fell from 0.6 percent previously to -0.1 percent by the end of 2020.

Unemployment rates in percentages 1991 - 2021

Economic performance 2021

 Italy
Total
Italy
per capita
EU
Total
EU
per capita
GDP2.108 tn USD35,657.50 USD17.177 tn USD33,384.92 USD
Gross national product2.127 tn USD35,985.98 USD16.895 tn USD32,835.37 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. Out of the 2,000 largest listed companies in the world, 26 originate from Italy. This is determined annually in the Forbes Global 2000 list. The 10 largest companies in the country in 2022 were:

Rank 110: Enel (Rome)
Rank 111: Eni (Rome)
Rank 130: Intesa Sanpaolo (Turin)
Rank 160: Generali Group (Trieste)
Rank 299: UniCredit (Milan)
Rank 366: Poste Italiane (Rome)
Rank 861: Atlantia (Rome)
Rank 891: Unipol Gruppo (Bologna)
Rank 932: Snam (Milan)
Rank 1094: Telecom Italia (Rome)

Development of gross domestic product in billions of USD 1960 - 2021


Household debt and deficits 2021


 Italy
Total
Italy
per capita
EU
Total
EU
per capita
Gross debt3.167 tn USD53,581.16 USD15.068 tn USD29,285.70 USD
Budget deficit151.77 bn USD2,567.64 USD799.24 bn USD1,553.35 USD


Imports and Exports 2021

 Italy
Total
Italy
per capita
EU
Total
EU
per capita
Imports635.71 bn USD10,754.81 USD8.916 tn USD17,329.02 USD
Exports686.78 bn USD11,618.77 USD9.554 tn USD18,569.19 USD


Development of imports and exports in billions of USD 1970 - 2021

Exports
Imports



Italy: AirportsLargest airports and airlines in ItalyThe 30 biggest airports and 5 airlines in Italy with further information and data with further information on airlines and destinations
Italy: Public HolidaysPublic holidays in Italy 2023-2027Statutory and inofficial holidays in Italy for 2023 to 2027
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