Please Paste this Code in your Website
||1961 - 2015
Italy is the second largest manufacturing economy in Europe and the third largest economy in the Euro Area. It has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17 percent of GDP. Public debt has been high for years and increased steadily since 2007, hitting 132 percent of GDP in 2014. However, investor concerns about Italy crisis eased in 2013, bringing down Italy's borrowing costs on sovereign government debt from Euro Area records. In 2014, after two years of contraction, economic expansion and labor market conditions continued to deteriorate, with growth at -0.4 percent and unemployment rising to 12.7 percent. Italy's GDP is now 9 percent below its 2007 pre-crisis level, mainly due to a 30 percent contraction of fixed investment in the country. Household expenditure is the main component of GDP and accounts for 61 percent of its total use, followed by government consumption (19 percent) and gross fixed capital formation (17 percent). Also, external balance of exports and imports accounts for 3 percent of total GDP. 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. Content for - Italy GDP Annual Growth Rate - was last refreshed on Friday, October 9, 2015.