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Gross domestic product (GDP) per capita in Italy 2024

This statistic shows the gross domestic product (GDP) per capita in Italy from 1984 to 2018, with projections up until 2024. 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 2018, the GDP per capita in Italy was around 34,320.75 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 1984 to 2024

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Source

Release date

October 2019

Region

Italy

Survey time period

1984 to 2018

Supplementary notes

Due to the high level of uncertainty in current global economic conditions, the IMF does not offer projections for this economic indicator at this time. Data will be updated as soon as they are available.

* Estimate.

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

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Statistics on "Italy"

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