This statistic shows the gross domestic product (GDP) per capita in Italy from 1987 to 2023, with projections up until 2029. 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 2023, the GDP per capita in Italy was around 38,325.84 U.S. dollars.
Italy's struggling economy
Italy’s GDP per capita has been unstable since 2008, often experiencing slight increases and decreases annually. The third largest economy of the euro area not only suffered from the global financial crisis, they were also one of the primary victims of the euro area crisis. One of the outcomes is the significant growth of Italy’s national debt, which saw continued upsurges every year over the past decade. With the collapse of investments and loss of industrial production, the Italian state was forced to resort to increase taxation and decrease spending. Additionally, Italy was forced to borrow more, which in turn increased national debt and furthermore their debt-to-GDP ratio. A debt-to-GDP ratio is significant to help determine if a country can pay off its debts without incurring more.
Increased taxation and decrease spending helped with reducing expenditures as well as raising revenues, however Italy still maintained a trade balance deficit, which has only recently< started to recover. Several reasons for Italy’s downturn as a country are unnecessary spending and incompetent leadership.
Italy: Gross domestic product (GDP) per capita in current prices from 1987 to 2029
(in U.S. dollars)
Characteristic
GDP per capita in U.S. dollars
2029*
45,095.65
2028*
43,834.55
2027*
42,604.23
2026*
41,611.85
2025*
40,700.72
2024*
39,579.56
2023
38,325.84
2022
35,043.09
2021
36,401.88
2020
31,789
2019
33,628.16
2018
34,917.56
2017
32,648.76
2016
31,190.79
2015
30,463.7
2014
35,836.18
2013
35,534.99
2012
34,743.75
2011
38,276.06
2010
35,815.59
2009
36,982.81
2008
40,818.96
2007
37,828.36
2006
33,448.06
2005
32,031.45
2004
31,342.83
2003
27,580.48
2002
22,386.26
2001
20,505.92
2000
20,153.08
1999
22,029.7
1998
22,348.05
1997
21,858.45
1996
23,094.38
1995
20,675.32
1994
19,009.47
1993
18,437.04
1992
22,947.48
1991
21,636.19
1990
20,500.67
1989
16,439.47
1988
15,817.58
1987
14,280.59
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IMF. (April 22, 2024). Italy: Gross domestic product (GDP) per capita in current prices from 1987 to 2029 (in U.S. dollars) [Graph]. In Statista. Retrieved October 03, 2024, from https://www.statista.com/statistics/263595/gross-domestic-product-gdp-per-capita-in-italy/
IMF. "Italy: Gross domestic product (GDP) per capita in current prices from 1987 to 2029 (in U.S. dollars)." Chart. April 22, 2024. Statista. Accessed October 03, 2024. https://www.statista.com/statistics/263595/gross-domestic-product-gdp-per-capita-in-italy/
IMF. (2024). Italy: Gross domestic product (GDP) per capita in current prices from 1987 to 2029 (in U.S. dollars). Statista. Statista Inc.. Accessed: October 03, 2024. https://www.statista.com/statistics/263595/gross-domestic-product-gdp-per-capita-in-italy/
IMF. "Italy: Gross Domestic Product (Gdp) per Capita in Current Prices from 1987 to 2029 (in U.S. Dollars)." Statista, Statista Inc., 22 Apr 2024, https://www.statista.com/statistics/263595/gross-domestic-product-gdp-per-capita-in-italy/
IMF, Italy: Gross domestic product (GDP) per capita in current prices from 1987 to 2029 (in U.S. dollars) Statista, https://www.statista.com/statistics/263595/gross-domestic-product-gdp-per-capita-in-italy/ (last visited October 03, 2024)
Italy: Gross domestic product (GDP) per capita in current prices from 1987 to 2029 (in U.S. dollars) [Graph], IMF, April 22, 2024. [Online]. Available: https://www.statista.com/statistics/263595/gross-domestic-product-gdp-per-capita-in-italy/