Gross domestic product (GDP) in Italy 2021

This statistic shows the gross domestic product (GDP) in Italy from 1984 to 2019, with projections up until 2021. 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 2019, the GDP in Italy was about 2.45 trillion international 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 2021

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Release date

April 2020



Survey time period

1984 to 2019

Supplementary notes

According to the source, due to the high level of uncertainty in current global economic conditions, the IMF projections for these indicators are provided only through 2021.

"International dollar" is a hypothetical currency that has a comparable purchase power parity to the U.S. dollar at any given time, i.e. one international dollar would buy a comparable amount of goods and services in the respective country to the amount one U.S. dollar would buy in the United States.

* Estimate.

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

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Statistics on "Italy"

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