The Italian gross domestic product expanded by 1.9% year-on-year in the first quarter of 2023, revised higher from the preliminary reading of 1.8% and speeding up from the 1.4% growth from the previous quarter. It was the fourth consecutive quarter where the Italian GDP growth surpassed expectations, underscoring some resilience of the Italian economy to higher borrowing costs by the ECB as inflation eased from its peak and both consumer and business activity showed signs of recovery. source: National Institute of Statistics (ISTAT)

GDP Annual Growth Rate in Italy averaged 2.30 percent from 1961 until 2023, reaching an all time high of 16.70 percent in the second quarter of 2021 and a record low of -17.90 percent in the second quarter of 2020. This page provides the latest reported value for - Italy GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Italy GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

GDP Annual Growth Rate in Italy is expected to be 1.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Italy GDP Annual Growth Rate is projected to trend around 1.40 percent in 2024 and 1.70 percent in 2025, according to our econometric models.

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Italy GDP Annual Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2023-04-28 08:00 AM YoY Adv Q1 1.8% 1.4% 1.4% 0.9%
2023-05-31 08:00 AM YoY Final Q1 1.9% 1.4% 1.8% 1.8%
2023-07-31 08:00 AM YoY Adv Q2 1.9% 1.6%

Related Last Previous Unit Reference
GDP Growth Rate 0.60 -0.10 percent Mar 2023
GDP Annual Growth Rate 1.90 1.40 percent Mar 2023
GDP Constant Prices 440644.80 438203.40 EUR Million Mar 2023
Gross Fixed Capital Formation 96013.00 95221.00 EUR Million Mar 2023
Full Year GDP Growth 3.70 7.00 percent Dec 2022
GDP from Services 294363.70 292023.80 EUR Million Mar 2023
GDP from Manufacturing 75428.70 75548.90 EUR Million Mar 2023
GDP from Construction 21870.10 21550.20 EUR Million Mar 2023
GDP from Agriculture 7593.70 7591.90 EUR Million Mar 2023

Italy GDP Annual Growth Rate
Italy is the second largest manufacturing economy in Europe and the third largest economy in the Euro Area. Composition of the GDP on the expenditure side: household consumption (61 percent), government expenditure (19 percent) and gross fixed capital formation (17 percent). Exports of goods and services account for 30 percent of GDP while imports for 27 percent, adding 3 percent to total GDP.
Actual Previous Highest Lowest Dates Unit Frequency
1.90 1.40 16.70 -17.90 1961 - 2023 percent Quarterly