Italy’s gross domestic product grew by 0.1 percent on the quarter in the three months leading to March of 2022, following an upwardly revised 0.7 percent rise in the previous period and compared to preliminary estimates of a 0.2 percent contraction. It marked the fifth consecutive quarter of expansion, carried by a 3.9 percent advance in gross fixed investments. Further, inventories were neutral to the total value. On the other hand, national consumption contracted by 0.6 percent, while imports were up 4.3 percent and exports gained 3.5 percent, bringing the net foreign demand to subtract 0.3 percentage points to growth. Year-on-year, the economy advanced 6.2 percent, ahead of previous estimates of 5.8 percent growth and compared to a 6.4 percent expansion in the prior period. source: National Institute of Statistics (ISTAT)

GDP Growth Rate in Italy averaged 0.57 percent from 1960 until 2022, reaching an all time high of 16.10 percent in the third quarter of 2020 and a record low of -12.60 percent in the second quarter of 2020. This page provides - Italy GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Italy GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.

GDP Growth Rate in Italy is expected to be -0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Italy GDP Growth Rate is projected to trend around 0.40 percent in 2023, according to our econometric models.

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Italy GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-04-29 08:00 AM QoQ Adv Q1 -0.2% 0.7% -0.2% -0.5%
2022-05-31 08:00 AM QoQ Final Q1 0.1% 0.7% -0.2% -0.2%
2022-07-29 08:00 AM QoQ Adv Q2 0.1% -0.1%


Related Last Previous Unit Reference
GDP Growth Rate 0.10 0.70 percent Mar 2022
GDP Annual Growth Rate 6.20 6.20 percent Mar 2022
GDP Constant Prices 428312.30 428598.50 EUR Million Mar 2022
Gross Fixed Capital Formation 90338.00 86542.60 EUR Million Mar 2022
Full Year GDP Growth 6.60 -9.00 percent Dec 2021
GDP From Services 281697.60 281264.10 EUR Million Mar 2022
GDP From Manufacturing 75595.10 76358.70 EUR Million Mar 2022
GDP From Construction 21635.70 20260.90 EUR Million Mar 2022
GDP From Agriculture 7869.40 7729.40 EUR Million Mar 2022

Italy GDP Growth Rate
Italy is the ninth largest economy in the world and the third largest in the Euro Zone. The country has a diversified industrial base driven in large part by manufacturing of high-quality consumer goods. 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
0.10 0.70 16.10 -12.60 1960 - 2022 percent Quarterly
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News Stream
Italy GDP Revised to Show Expansion in Q1
Italy’s gross domestic product grew by 0.1 percent on the quarter in the three months leading to March of 2022, following an upwardly revised 0.7 percent rise in the previous period and compared to preliminary estimates of a 0.2 percent contraction. It marked the fifth consecutive quarter of expansion, carried by a 3.9 percent advance in gross fixed investments. Further, inventories were neutral to the total value. On the other hand, national consumption contracted by 0.6 percent, while imports were up 4.3 percent and exports gained 3.5 percent, bringing the net foreign demand to subtract 0.3 percentage points to growth. Year-on-year, the economy advanced 6.2 percent, ahead of previous estimates of 5.8 percent growth and compared to a 6.4 percent expansion in the prior period.
2022-05-31
Italy GDP Contracts as Expected
Italy’s gross domestic product contracted by 0.2 percent quarter-on-quarter in the three months to March of 2022, following an upwardly revised 0.7 percent expansion in the previous period and in line with market expectations. It was the first month of contraction following four consecutive months of growth, as the Italian economy was impacted by soaring inflation, mainly through surging energy bills and higher food prices, largely due to the war in Ukraine. Higher imports led net external demand to contribute negatively to the GDP, while domestic demand was higher. Looking ahead, Prime Minister Draghi’s government forecasts 3.1 percent in growth for the Italian economy in 2022, downwardly revised from the 4.7 percent estimate amid a highly uncertain macroeconomic backdrop.
2022-04-29
Italy GDP Growth Confirmed at 0.6%
Italy’s gross domestic product grew by 0.6 percent on the quarter in the three months leading to December of 2021, following a downwardly revised 2.5 percent rise in the previous period and matching preliminary estimates. It was the fourth consecutive quarter of expansion, as consumption rose 0.2 percent and gross fixed capital formation advanced 2.8 percent. Further, inventories swung to a net positive and added 1.1 percentage points to the GDP growth. Meanwhile, imports were up by 4.2 percent while exports were held constant, bringing the net foreign demand to subtract 1.2 percentage points to growth. Year-on-year, the economy advanced 6.2 percent, below the preliminary estimate of 6.4 percent. Considering the full 2021, Italy’s economy expanded 6.6 percent, partially rebounding from 2020’s 9 percent contraction brought by the pandemic.
2022-03-04