Countries
Italy
Key Economic Indicators
$3.66 trillion
$62,014
0.69%
0.98%
6.39%
$2.373 trillion (2024 est.)
<strong>note:</strong> Italy reports its data on public debt according to guidel
$25.77 billion
Economic Overview
<p>high-income, core EU economy; strong services, manufacturing, and tourism sectors; modest growth supported by net exports, low inflation, and public investments via EU funds; tight labor market with aging workforce and shortages in specialized skills; high public debt levels</p>
All Economic Data
Agricultural products
milk, wheat, grapes, tomatoes, maize, olives, apples, oranges, sugar beets, rice (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Average household expenditures
On alcohol and tobacco:
3.8% of household expenditures (2023 est.)
On food:
14.7% of household expenditures (2023 est.)
Budget
Expenditures:
$1.104 trillion (2023 est.)
Note:
<b>note:</b> central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated
Revenues:
$935.038 billion (2023 est.)
Currency
code:
EUR
name:
euro (EUR) [€]
Current account balance
$25.77 billion
Current account balance 2022:
-$36.325 billion (2022 est.)
Current account balance 2023:
$3.261 billion (2023 est.)
Current account balance 2024:
$26.76 billion (2024 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Exchange rates
Currency:
euros (EUR) per US dollar -
Exchange rates 2020:
0.876 (2020 est.)
Exchange rates 2021:
0.845 (2021 est.)
Exchange rates 2022:
0.95 (2022 est.)
Exchange rates 2023:
0.925 (2023 est.)
Exchange rates 2024:
0.924 (2024 est.)
Exports
$773.89 billion
Exports 2022:
$737.083 billion (2022 est.)
Exports 2023:
$774.311 billion (2023 est.)
Exports 2024:
$778.898 billion (2024 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
packaged medicine, garments, cars, refined petroleum, vehicle parts/accessories (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
Germany 11%, USA 11%, France 10%, Spain 5%, UK 5% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$26.9 billion
GDP - composition, by end use
Exports of goods and services:
33.5% (2023 est.)
Government consumption:
17.8% (2023 est.)
Household consumption:
58.3% (2023 est.)
Imports of goods and services:
-32.1% (2023 est.)
Investment in fixed capital:
22.5% (2023 est.)
Investment in inventories:
0.4% (2023 est.)
Note:
<b>note:</b> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
2% (2024 est.)
Industry:
21.7% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
65.6% (2024 est.)
GDP (official exchange rate)
$2.373 trillion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$40,385
Gini Index coefficient - distribution of family income
35.9 (2017)
Gini Index coefficient - distribution of family income 2022:
33.7 (2022 est.)
Note:
<b>note:</b> index (0-100) of income distribution; higher values represent greater inequality
GNI (gross national income)
$2.37 trillion
GNI per capita
$38,590
Gross domestic investment
23 % of GDP
Household income or consumption by percentage share
Highest 10%:
25.3% (2022 est.)
Lowest 10%:
2.5% (2022 est.)
Note:
<b>note:</b> % share of income accruing to lowest and highest 10% of population
Imports
$721.84 billion
Imports 2022:
$775.518 billion (2022 est.)
Imports 2023:
$739.646 billion (2023 est.)
Imports 2024:
$717.278 billion (2024 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
natural gas, crude petroleum, cars, packaged medicine, garments (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
Germany 15%, France 9%, China 8%, Netherlands 6%, Spain 5% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
0.2% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
tourism, machinery, iron and steel, chemicals, food processing, textiles, motor vehicles, clothing, footwear, ceramics
Inflation rate (consumer prices)
0.98%
Inflation rate (consumer prices) 2022:
8.2% (2022 est.)
Inflation rate (consumer prices) 2023:
5.6% (2023 est.)
Inflation rate (consumer prices) 2024:
1% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
25.828 million (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
25.58 million persons
Labor force - by occupation
agriculture:
3.35%
industry:
26.43%
services:
70.23%
Population below poverty line
20.1% (2021 est.)
note:
<b>note:</b> % of population with income below national poverty line
Public debt
Note:
<strong>note:</strong> Italy reports its data on public debt according to guidelines set out in the Maastricht Treaty; general government gross debt is defined in the Maastricht Treaty as consolidated general government gross debt at nominal value, outstanding at the end of the year, in the following categories of government liabilities (as defined in ESA95): currency and deposits (AF.2), securities other than shares excluding financial derivatives (AF.3, excluding AF.34), and loans (AF.4); the
Public debt 2017:
131.8% of GDP (2017 est.)
Real GDP (purchasing power parity)
$3.66 trillion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2022:
$3.088 trillion (2022 est.)
Real GDP (purchasing power parity) 2023:
$3.11 trillion (2023 est.)
Real GDP (purchasing power parity) 2024:
$3.133 trillion (2024 est.)
Real GDP growth rate
0.69%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2022:
4.8% (2022 est.)
Real GDP growth rate 2023:
0.7% (2023 est.)
Real GDP growth rate 2024:
0.7% (2024 est.)
Real GDP per capita
$62,014
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2022:
$52,300 (2022 est.)
Real GDP per capita 2023:
$52,700 (2023 est.)
Real GDP per capita 2024:
$53,100 (2024 est.)
Remittances
$11.15 billion
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2022:
0.5% of GDP (2022 est.)
Remittances 2023:
0.5% of GDP (2023 est.)
Remittances 2024:
0.5% of GDP (2024 est.)
Reserves of foreign exchange and gold
$290.55 billion
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2022:
$224.581 billion (2022 est.)
Reserves of foreign exchange and gold 2023:
$247.396 billion (2023 est.)
Reserves of foreign exchange and gold 2024:
$290.547 billion (2024 est.)
Revenue (excl grants)
39 % of GDP
Tax revenue
25 % of GDP
Taxes and other revenues
24.8% (of GDP) (2023 est.)
note:
<b>note:</b> central government tax revenue as a % of GDP
Unemployment rate
6.39%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
8.1% (2022 est.)
Unemployment rate 2023:
7.7% (2023 est.)
Unemployment rate 2024:
6.8% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
24.8% (2024 est.)
Male:
19.9% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
21.8% (2024 est.)
World Bank Indicators
Currency
euro (EUR) (2025)
Gini Index
35.90 (2017)
Languages
Italian, Catalan (2025)
Economic Rankings
GDP (Nominal)
#8
Imports
#11
GDP (PPP)
#12
Reserves
#12
Exports
#12
GDP per Capita
#30
Unemployment Rate
#62
Gini Index
#99
Inflation Rate
#105
GDP Growth Rate
#105
Quick Facts
Industries
tourism, machinery, iron and steel, chemicals, food processing, textiles, motor vehicles, clothing, footwear, ceramics
Agricultural products
milk, wheat, grapes, tomatoes, maize, olives, apples, oranges, sugar beets, rice (2023)
Labor force
25.828 million (2024 est.)
Exports - partners
Germany 11%, USA 11%, France 10%, Spain 5%, UK 5% (2023)
Imports - partners
Germany 15%, France 9%, China 8%, Netherlands 6%, Spain 5% (2023)
Exchange rates
euros (EUR) per US dollar -
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