The Italian gross domestic product grew by 0.7% in 2024, the same as the previous year, and indicating an upward revision from earlier aggregates that indicated a growth rate of 0.5%, which were adjusted for four less working days in the year. The result compared to the Bank of Italy’s forecast that the economy would expand by 0.5% but missed the government’s initial forecast of 1% as higher power costs eroded household spending and difficulties in deploying EU pandemic recovery funds delayed public projects. Household consumption rose by 0.4% from the previous year and government expenditure rose by a sharper 1.1%. In the meantime, gross fixed investment advanced by 0.5%, and net external demand had a positive impact on the GDP as exports rose by 0.4% and imports contracted by 0.7%. source: National Institute of Statistics (ISTAT)
Full Year GDP Growth in Italy remained unchanged at 0.70 percent in 2024 from 0.70 percent in 2023. Full Year GDP Growth in Italy averaged 0.72 percent from 1996 until 2024, reaching an all time high of 8.90 percent in 2021 and a record low of -8.90 percent in 2020. This page includes a chart with historical data for Italy Full Year GDP Growth. Italy Full Year GDP Growth - data, historical chart, forecasts and calendar of releases - was last updated on September of 2025.
Full Year GDP Growth in Italy remained unchanged at 0.70 percent in 2024 from 0.70 percent in 2023. Full Year GDP Growth in Italy is expected to reach 0.70 percent by the end of 2025, according to Trading Economics global macro models and analysts expectations. In the long-term, the Italy Full Year GDP Growth is projected to trend around 0.90 percent in 2026 and 0.80 percent in 2027, according to our econometric models.