Italy ranked 8/197 by economy size with a GDP of $2.38T and 29/197 by GDP per capita at $40,385. Italy has $3.22T in government debt, with a debt-to-GDP ratio of 135.3%.
In 2024, Italy made up 2.15% of the world's economy, compared to 3.07% in 1960.
Italy GDP & GDP growth by year
| Year | GDP | GDP growth |
|---|---|---|
| 2024 | $2,380,825,077,244 | 0.69% |
| 2023 | $2,316,727,999,333 | 0.98% |
| 2022 | $2,104,067,630,319 | 4.82% |
| 2021 | $2,179,207,773,596 | 8.93% |
| 2020 | $1,907,481,094,079 | -8.87% |
| 2019 | $2,019,606,796,584 | 0.43% |
| 2018 | $2,099,435,266,459 | 0.83% |
| 2017 | $1,970,720,904,585 | 1.6% |
| 2016 | $1,887,111,188,177 | 1.24% |
| 2015 | $1,845,428,048,839 | 0.89% |
| 2014 | $2,173,255,507,986 | -0.001% |
| 2013 | $2,153,225,581,941 | -1.82% |
| 2012 | $2,097,929,495,122 | -3.13% |
| 2011 | $2,306,974,020,278 | 0.7% |
| 2010 | $2,144,936,254,535 | 1.53% |
| 2009 | $2,209,484,319,013 | -5.31% |
| 2008 | $2,417,508,414,187 | -1.02% |
| 2007 | $2,222,524,108,128 | 1.46% |
| 2006 | $1,958,563,654,386 | 1.8% |
| 2005 | $1,864,982,261,287 | 0.76% |
| 2004 | $1,812,808,753,295 | 1.47% |
| 2003 | $1,582,930,016,539 | 0.07% |
| 2002 | $1,281,746,271,196 | 0.27% |
| 2001 | $1,172,041,488,806 | 2.01% |
| 2000 | $1,149,661,363,439 | 3.88% |
| 1999 | $1,255,004,736,464 | 1.68% |
| 1998 | $1,272,729,786,997 | 1.8% |
| 1997 | $1,244,988,176,444 | 1.93% |
| 1996 | $1,314,776,508,972 | 1.35% |
| 1995 | $1,177,369,428,266 | 2.89% |
| 1994 | $1,101,750,159,702 | 2.15% |
| 1993 | $1,067,412,587,671 | -0.85% |
| 1992 | $1,323,204,350,354 | 0.83% |
| 1991 | $1,249,092,439,519 | 1.54% |
| 1990 | $1,183,945,130,899 | 1.99% |
| 1989 | $930,801,709,004 | 3.39% |
| 1988 | $893,663,934,841 | 4.19% |
| 1987 | $807,570,134,449 | 3.19% |
| 1986 | $641,862,313,287 | 2.86% |
| 1985 | $453,259,761,687 | 2.8% |
| 1984 | $438,896,930,791 | 3.23% |
| 1983 | $444,063,496,940 | 1.17% |
| 1982 | $428,257,421,618 | 0.41% |
| 1981 | $431,695,533,981 | 0.84% |
| 1980 | $478,356,755,596 | 3.43% |
| 1979 | $394,584,507,108 | 5.96% |
| 1978 | $315,784,469,541 | 3.24% |
| 1977 | $258,190,019,750 | 2.56% |
| 1976 | $225,235,205,862 | 7.13% |
| 1975 | $228,220,643,535 | -2.09% |
| 1974 | $200,024,444,775 | 5.5% |
| 1973 | $175,896,529,392 | 7.13% |
| 1972 | $145,594,833,997 | 3.69% |
| 1971 | $124,959,712,859 | 1.82% |
| 1970 | $113,656,669,765 | 5.31% |
| 1969 | $100,996,667,239 | 6.1% |
| 1968 | $91,485,448,148 | 6.54% |
| 1967 | $84,401,995,573 | 7.18% |
| 1966 | $76,622,444,787 | 5.98% |
| 1965 | $70,717,012,186 | 3.27% |
| 1964 | $65,720,771,779 | 2.8% |
| 1963 | $60,035,924,618 | 5.61% |
| 1962 | $52,413,872,628 | 6.2% |
| 1961 | $46,649,487,320 | 8.21% |
| 1960 | $42,012,422,612 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/italy | CC BY 
Italy GDP per capita by year
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 2024 | $40,385 | $62,014 |
| 2023 | $39,277 | $60,030 |
| 2022 | $35,654 | $57,261 |
| 2021 | $36,853 | $49,825 |
| 2020 | $32,091 | $44,436 |
| 2019 | $33,813 | $46,662 |
| 2018 | $34,904 | $43,387 |
| 2017 | $32,844 | $42,142 |
| 2016 | $31,392 | $40,483 |
| 2015 | $30,640 | $37,384 |
| 2014 | $36,028 | $36,666 |
| 2013 | $35,702 | $36,459 |
| 2012 | $34,854 | $36,281 |
| 2011 | $38,432 | $36,392 |
| 2010 | $35,857 | $34,974 |
| 2009 | $37,100 | $34,502 |
| 2008 | $40,829 | $35,422 |
| 2007 | $37,826 | $34,108 |
| 2006 | $33,537 | $32,454 |
| 2005 | $32,063 | $30,138 |
| 2004 | $31,348 | $29,581 |
| 2003 | $27,578 | $29,249 |
| 2002 | $22,451 | $28,833 |
| 2001 | $20,570 | $28,134 |
| 2000 | $20,190 | $27,152 |
| 1999 | $22,050 | $25,655 |
| 1998 | $22,365 | $25,075 |
| 1997 | $21,884 | $23,937 |
| 1996 | $23,123 | $23,101 |
| 1995 | $20,712 | $22,446 |
| 1994 | $19,382 | $21,369 |
| 1993 | $18,782 | $20,485 |
| 1992 | $23,297 | $20,196 |
| 1991 | $22,007 | $19,596 |
| 1990 | $20,874 | $18,680 |
| 1989 | $16,424 | - |
| 1988 | $15,781 | - |
| 1987 | $14,268 | - |
| 1986 | $11,341 | - |
| 1985 | $8,009 | - |
| 1984 | $7,758 | - |
| 1983 | $7,851 | - |
| 1982 | $7,574 | - |
| 1981 | $7,640 | - |
| 1980 | $8,476 | - |
| 1979 | $7,006 | - |
| 1978 | $5,623 | - |
| 1977 | $4,614 | - |
| 1976 | $4,042 | - |
| 1975 | $4,116 | - |
| 1974 | $3,629 | - |
| 1973 | $3,213 | - |
| 1972 | $2,677 | - |
| 1971 | $2,311 | - |
| 1970 | $2,112 | - |
| 1969 | $1,886 | - |
| 1968 | $1,718 | - |
| 1967 | $1,595 | - |
| 1966 | $1,459 | - |
| 1965 | $1,357 | - |
| 1964 | $1,272 | - |
| 1963 | $1,171 | - |
| 1962 | $1,030 | - |
| 1961 | $923 | - |
| 1960 | $837 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/italy | CC BY
Italy has a GDP per capita of $40,385, ranking 29/197, a GDP per capita based on purchasing power parity (PPP) of $62,014, ranking 31/197, and a median annual after tax income of $23,800, ranking 35/197.
Italy GDP rankings by year
| Year | Rank | ||
|---|---|---|---|
| GDP | GDP per capita | GDP per capita, PPP | |
| 2024 | 8 | 26 | 27 |
| 2023 | 8 | 29 | 27 |
| 2022 | 10 | 31 | 27 |
| 2021 | 8 | 31 | 30 |
| 2020 | 8 | 30 | 31 |
| 2019 | 8 | 30 | 29 |
| 2018 | 8 | 30 | 30 |
| 2017 | 9 | 30 | 32 |
| 2016 | 8 | 29 | 32 |
| 2015 | 8 | 30 | 34 |
| 2014 | 8 | 31 | 34 |
| 2013 | 9 | 31 | 32 |
| 2012 | 9 | 30 | 32 |
| 2011 | 8 | 29 | 31 |
| 2010 | 8 | 28 | 32 |
| 2009 | 7 | 28 | 31 |
| 2008 | 7 | 27 | 29 |
| 2007 | 7 | 27 | 30 |
| 2006 | 7 | 29 | 29 |
| 2005 | 7 | 26 | 29 |
| 2004 | 7 | 24 | 28 |
| 2003 | 7 | 24 | 27 |
| 2002 | 7 | 25 | 26 |
| 2001 | 7 | 27 | 24 |
| 2000 | 7 | 28 | 25 |
| 1999 | 6 | 23 | 25 |
| 1998 | 6 | 21 | 24 |
| 1997 | 6 | 25 | 23 |
| 1996 | 6 | 21 | 22 |
| 1995 | 6 | 21 | 23 |
| 1994 | 6 | 22 | 23 |
| 1993 | 5 | 19 | 21 |
| 1992 | 5 | 18 | 22 |
| 1991 | 5 | 16 | 22 |
| 1990 | 5 | 19 | 22 |
| 1989 | 5 | 21 | - |
| 1988 | 6 | 21 | - |
| 1987 | 5 | 20 | - |
| 1986 | 5 | 22 | - |
| 1985 | 6 | 28 | - |
| 1984 | 6 | 29 | - |
| 1983 | 6 | 29 | - |
| 1982 | 6 | 29 | - |
| 1981 | 6 | 29 | - |
| 1980 | 6 | 28 | - |
| 1979 | 6 | 28 | - |
| 1978 | 6 | 30 | - |
| 1977 | 6 | 31 | - |
| 1976 | 6 | 32 | - |
| 1975 | 6 | 30 | - |
| 1974 | 6 | 31 | - |
| 1973 | 6 | 30 | - |
| 1972 | 6 | 29 | - |
| 1971 | 6 | 28 | - |
| 1970 | 6 | 27 | - |
| 1969 | 6 | 21 | - |
| 1968 | 6 | 21 | - |
| 1967 | 6 | 20 | - |
| 1966 | 7 | 21 | - |
| 1965 | 6 | 21 | - |
| 1964 | 6 | 21 | - |
| 1963 | 6 | 21 | - |
| 1962 | 6 | 21 | - |
| 1961 | 7 | 22 | - |
| 1960 | 7 | 21 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/italy | CC BY
Compared with 2000, in 2024 Italy is ranked 8th out of 182 by GDP (down from 7th), 26th by GDP per capita (up from 28th), and 27th by GDP per capita PPP (down from 25th).
Economic indicators
Italy
|
Rank | |
|---|---|---|
| Gross domestic product |
$2.38T
2024 |
8/197 |
| GDP growth |
0.69%
2023-2024 |
165/194 |
| GDP per capita |
$40,385
2024 |
29/197 |
| GDP per capita, PPP |
$62,014
2024 |
31/197 |
| Government debt |
$3.22T
2024 |
6/185 |
| Debt-to-GDP ratio |
135.3%
2024 |
8/185 |
| Government debt per person |
$54,652
2024 |
6/185 |
| Average annual personal income after taxes |
$23,800
2026 |
35/197 |
| Listed domestic companies |
290
2014 |
25/103 |
| Market capitalization of domestic companies |
$587B
2014 |
21/100 |
| Number of millionaires |
1,344,000
2025 |
9/35 |
| Millionaire frequency |
1 in 37
2025 |
19/35 |
| Number of billionaires |
74
2025 |
7/78 |
| Billionaire frequency |
1 in 662,919
2025 |
24/78 |
| Income share by richest 10% |
25.8%
2023 |
104/169 |
| Income share by poorest 10% |
2.3%
2023 |
115/169 |
| Government expenditure, % of GDP |
50.6%
2024 |
16/195 |
| Consumer prices inflation |
0.98%
2023-2024 |
172/195 |
| Unemployment rate |
6.5%
2024 |
72/196 |
| Population |
58562681
|
25/197 |
Government spending, deficit, and debt by year
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 2024 | 50.6% | 135.3% | -3.45% |
| 2023 | 54% | 134.6% | -7.24% |
| 2022 | 54.9% | 138.3% | -8.11% |
| 2021 | 56% | 145.8% | -8.88% |
| 2020 | 56.8% | 154.4% | -9.38% |
| 2019 | 48.4% | 133.9% | -1.45% |
| 2018 | 48.3% | 134.2% | -2.19% |
| 2017 | 48.8% | 133.7% | -2.51% |
| 2016 | 49% | 134.2% | -2.4% |
| 2015 | 50.2% | 134.8% | -2.46% |
| 2014 | 50.7% | 134.8% | -2.82% |
| 2013 | 50.9% | 131.9% | -2.87% |
| 2012 | 50.5% | 125.9% | -2.99% |
| 2011 | 49% | 119.1% | -3.52% |
| 2010 | 49.8% | 118.8% | -4.16% |
| 2009 | 51.1% | 116.1% | -5.06% |
| 2008 | 47.8% | 105.8% | -2.58% |
| 2007 | 46.6% | 103.5% | -1.33% |
| 2006 | 47.6% | 106.3% | -3.61% |
| 2005 | 47.1% | 106.2% | -4.1% |
| 2004 | 46.7% | 104.7% | -3.46% |
| 2003 | 47% | 105.1% | -3.23% |
| 2002 | 46.5% | 105.9% | -2.88% |
| 2001 | 47.1% | 108.5% | -3.18% |
| 2000 | 46.4% | 108.7% | -2.42% |
| 1999 | 47.1% | 113.1% | -1.77% |
| 1998 | 48% | 113.9% | -2.99% |
| 1997 | 49.3% | 116.5% | -2.98% |
| 1996 | 51.3% | 118.9% | -6.61% |
| 1995 | 51.4% | 119.1% | -7.2% |
| 1994 | 55.1% | 130.8% | -8.84% |
| 1993 | 57.8% | 124.1% | -9.76% |
| 1992 | 56.8% | 113% | -10.1% |
| 1991 | 55.3% | 105.3% | -11.1% |
| 1990 | 54.2% | 101.7% | -11.1% |
| 1989 | 51.6% | 91.8% | -11.4% |
| 1988 | 50.4% | 89.2% | -11% |
| 1987 | 49.8% | 87.4% | -11.5% |
| 1986 | 50.5% | 83.4% | -12% |
| 1985 | 49.8% | 79.1% | -12.4% |
| 1984 | 49.1% | 73.1% | -11.5% |
| 1983 | 48.9% | 67.8% | -10.1% |
| 1982 | 46.7% | 61.8% | -10% |
| 1981 | 44.6% | 57.3% | -10.9% |
| 1980 | 40.8% | 55.1% | -6.97% |
| 1979 | 40.1% | 58.9% | -8.23% |
| 1978 | 40.9% | 59.9% | -8.47% |
| 1977 | 38.5% | 56% | -6.96% |
| 1976 | 38.1% | 57.3% | -7.88% |
| 1975 | 39.1% | 57.9% | -10.3% |
| 1974 | 34.8% | 50.8% | -6.24% |
| 1973 | 35.3% | 51.1% | -6.36% |
| 1972 | 36.4% | 48.2% | -6.84% |
| 1971 | 34.4% | 42.4% | -4.71% |
| 1970 | 32.3% | 37.8% | -3.22% |
| 1969 | 32.1% | 37% | -2.85% |
| 1968 | 32.6% | 36.4% | -2.55% |
| 1967 | 17.9% | 33.3% | -0.97% |
| 1966 | 19.1% | 33.4% | -1.59% |
| 1965 | 18.6% | 28.4% | -2.67% |
| 1964 | 18.2% | 27.2% | -2.35% |
| 1963 | 16.7% | 27.2% | -0.3% |
| 1962 | 17.5% | 29% | -0.95% |
| 1961 | 17.3% | 30% | -0.57% |
| 1960 | 16.5% | 31.4% | -0.28% |
| 1959 | 18.3% | 33.1% | -1% |
| 1958 | 16.6% | 32% | -0.98% |
| 1957 | 16.2% | 32.1% | -1.09% |
| 1956 | 16.3% | 32.9% | -1.46% |
| 1955 | 17.2% | 33.9% | -2.03% |
| 1954 | 16.6% | 34.1% | -1.84% |
| 1953 | 16.7% | 32.5% | -2.33% |
| 1952 | 20.1% | 31.6% | -4.08% |
| 1951 | 19% | 29.9% | -3.86% |
| 1950 | 17.3% | 29.5% | -2.42% |
| 1949 | 16.9% | 29.6% | -2.82% |
| 1948 | 16.8% | 27% | -4.58% |
| 1947 | 17.9% | 24.2% | -6.62% |
| 1946 | 22.1% | 39.9% | -9.82% |
| 1945 | 27.4% | 72.4% | -16.9% |
| 1944 | 42.6% | 90.9% | -35.1% |
| 1943 | 25.4% | 102.5% | -16.1% |
| 1942 | 40.5% | 100.5% | -26.9% |
| 1941 | 39.5% | 89.4% | -25.1% |
| 1940 | 38.1% | 72.6% | -24.3% |
| 1939 | 24.6% | 69.4% | -9.49% |
| 1938 | 20.5% | 71.4% | -5.97% |
| 1937 | 21.5% | 72.1% | -5.78% |
| 1936 | 24.9% | 80.2% | -7.93% |
| 1935 | 24.5% | 80.7% | -9.83% |
| 1934 | 17.5% | 89.5% | -2.5% |
| 1933 | 19.3% | 86.4% | -4.85% |
| 1932 | 16.9% | 80% | -3.06% |
| 1931 | 16.5% | 101.3% | -2.14% |
| 1930 | 14.2% | 106.6% | -0.55% |
| 1929 | 12.8% | 97.4% | -0.59% |
| 1928 | 15.1% | 97.7% | -2.09% |
| 1927 | 14.3% | 99.7% | -1.71% |
| 1926 | 11.9% | 89.4% | -0.09% |
| 1925 | 11.5% | 103.8% | 1.7% |
| 1924 | 14.8% | 142.8% | 1.19% |
| 1923 | 22.9% | 143.5% | -3.21% |
| 1922 | 33% | 140.9% | -11% |
| 1921 | 21.9% | 152.2% | -7.77% |
| 1920 | 18.8% | 159.7% | -5.89% |
| 1919 | 25.3% | 132.3% | -11.2% |
| 1918 | 36.6% | 93.6% | -22.7% |
| 1917 | 40.8% | 92% | -27.6% |
| 1916 | 40% | 74.9% | -28.2% |
| 1915 | 37.5% | 84.3% | -25.8% |
| 1914 | 23.7% | 82% | -12.4% |
| 1913 | 13.1% | 77.2% | -0.86% |
| 1912 | 13.9% | 77.7% | -1.86% |
| 1911 | 13.6% | 79.3% | -0.63% |
| 1910 | 13.9% | 87.1% | -0.32% |
| 1909 | 12.7% | 84.5% | -0.69% |
| 1908 | 13.5% | 90.3% | -1.31% |
| 1907 | 11.4% | 85.8% | -0.51% |
| 1906 | 13.3% | 95.6% | -0.69% |
| 1905 | 14.7% | 100.9% | -1.57% |
| 1904 | 12.4% | 103.7% | 0.58% |
| 1903 | 12.2% | 102.1% | 0.32% |
| 1902 | 12.9% | 110.2% | 0.48% |
| 1901 | 12.3% | 106.8% | 0.36% |
| 1900 | 12.6% | 109.8% | 0.28% |
| 1899 | 13.1% | 116.5% | -0.11% |
| 1898 | 13.2% | 117% | -0.21% |
| 1897 | 14.1% | 128% | 0.009% |
| 1896 | 14.2% | 123% | -0.43% |
| 1895 | 14.6% | 120.8% | -0.69% |
| 1894 | 14.6% | 124.7% | -0.23% |
| 1893 | 14% | 116.1% | -0.49% |
| 1892 | 14.3% | 116.9% | -0.25% |
| 1891 | 13.9% | 105.6% | -1.41% |
| 1890 | 14.4% | 105.8% | -0.32% |
| 1889 | 17.3% | 120.9% | -1.32% |
| 1888 | 17.6% | 119.9% | -2.11% |
| 1887 | 17.4% | 115.2% | -1.94% |
| 1886 | 14.2% | 105.9% | -0.5% |
| 1885 | 14.4% | 109.1% | 0.2% |
| 1884 | 15.7% | 117.2% | -1.46% |
| 1883 | 14.1% | 116.3% | -0.51% |
| 1882 | 13.4% | 111.4% | -0.5% |
| 1881 | 13.3% | 111.7% | -0.04% |
| 1880 | 11.1% | 91.6% | 0.38% |
| 1879 | 11.7% | 98.6% | 0.73% |
| 1878 | 12% | 97.2% | 0.09% |
| 1877 | 11.5% | 91.4% | -0.009% |
| 1876 | 12.3% | 101.3% | -0.05% |
| 1875 | 12% | 89.8% | 0.58% |
| 1874 | 10.8% | 78.6% | -0.08% |
| 1873 | 10.2% | 79.7% | 0.21% |
| 1872 | 11.5% | 88.8% | 0% |
| 1871 | 11.8% | 95.8% | -0.13% |
| 1870 | 9.85% | 95.8% | -0.82% |
| 1869 | 10.8% | 87.5% | 0.33% |
| 1868 | 10.2% | 82.5% | -0.79% |
| 1867 | 11% | 86.1% | -1.45% |
| 1866 | 12.4% | 69.3% | -3.1% |
| 1865 | 12.2% | 68% | -2.72% |
| 1864 | 12% | 61.1% | -3.06% |
| 1863 | 10.9% | 51.8% | -4.16% |
| 1862 | 9.97% | 40.9% | -3.96% |
| 1861 | - | 39.4% | - |
Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1861–1989, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).
GeoRank.org/economy/italy | CC BY
This chart shows Italy's government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 50 years, Italy recorded a fiscal deficit in 50 of them, with an average annual deficit equal to 6.37% of GDP. In 2024, government spending reached $1.2T (50.6% of GDP), with a deficit of 3.45%.
The national debt reached $3.22T, ranking 6th out of 185 countries by total size, with a debt-to-GDP ratio of 135.3%, ranking 8th.
Inflation rate by year
| Year | Inflation |
|---|---|
| 2024 | 0.98% |
| 2023 | 5.62% |
| 2022 | 8.2% |
| 2021 | 1.87% |
| 2020 | -0.14% |
| 2019 | 0.61% |
| 2018 | 1.14% |
| 2017 | 1.23% |
| 2016 | -0.09% |
| 2015 | 0.04% |
| 2014 | 0.24% |
| 2013 | 1.22% |
| 2012 | 3.04% |
| 2011 | 2.78% |
| 2010 | 1.53% |
| 2009 | 0.77% |
| 2008 | 3.35% |
| 2007 | 1.83% |
| 2006 | 2.09% |
| 2005 | 1.99% |
| 2004 | 2.21% |
| 2003 | 2.67% |
| 2002 | 2.47% |
| 2001 | 2.79% |
| 2000 | 2.54% |
| 1999 | 1.66% |
| 1998 | 1.96% |
| 1997 | 2.04% |
| 1996 | 4.01% |
| 1995 | 5.24% |
| 1994 | 4.05% |
| 1993 | 4.63% |
| 1992 | 5.27% |
| 1991 | 6.25% |
| 1990 | 6.46% |
| 1989 | 6.26% |
| 1988 | 5.06% |
| 1987 | 4.75% |
| 1986 | 5.82% |
| 1985 | 9.21% |
| 1984 | 10.8% |
| 1983 | 14.6% |
| 1982 | 16.5% |
| 1981 | 18% |
| 1980 | 21.1% |
| 1979 | 14.8% |
| 1978 | 12.1% |
| 1977 | 17.1% |
| 1976 | 16.6% |
| 1975 | 17% |
| 1974 | 19.2% |
| 1973 | 10.8% |
| 1972 | 5.75% |
| 1971 | 4.79% |
| 1970 | 4.97% |
| 1969 | 2.66% |
| 1968 | 1.28% |
| 1967 | 3.73% |
| 1966 | 2.35% |
| 1965 | 4.52% |
| 1964 | 5.91% |
| 1963 | 7.45% |
| 1962 | 4.69% |
| 1961 | 2.05% |
| 1960 | 2.35% |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/italy | CC BY
Over the past 20 years, Italy has had an average annual inflation rate of 1.91%. In 2024, inflation was 0.98%. The bar chart above shows consumer price inflation by year.
Balance of trade
|
Italy
|
Rank | |
|---|---|---|
|
Current account balance
|
$25.8B
2024 |
19/190 |
| Current account balance, % of GDP |
+1.08%
2024 |
67/190 |
| Goods imports |
$562B
2024 |
12/189 |
| Goods exports |
$621B
2024 |
8/189 |
| Service imports |
$160B
2024 |
14/189 |
| Service exports |
$155B
2024 |
15/189 |
| Imports of goods and services, % of GDP |
30.3%
2024 |
127/181 |
| Exports of goods and services, % of GDP |
32.5%
2024 |
102/193 |
Italy top 10 trading partners
Italy's biggest trading partner accounting for 12.9% of all exports and imports is Germany, with a trade balance between the two of -$12.4B: Italy exports $93.7B worth of goods and services to Germany and imports $106B.
Below is the list of the top 10 trade partners of Italy.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
Germany
|
$200B | 12.9% | $93.7B | $106B | Machinery & equipment | Machinery & equipment |
| 2 |
France
|
$146B | 9.44% | $82.1B | $64.1B | Machinery & equipment | Machinery & equipment |
| 3 |
United States
|
$123B | 7.93% | $83.8B | $39B | Machinery & equipment | Chemicals & pharma |
| 4 |
Spain
|
$86.8B | 5.6% | $42.9B | $43.9B | Machinery & equipment | Machinery & equipment |
| 5 |
Netherlands
|
$75.8B | 4.9% | $28.3B | $47.5B | Chemicals & pharma | Machinery & equipment |
| 6 |
China
|
$74.4B | 4.81% | $18.7B | $55.7B | Machinery & equipment | Machinery & equipment |
| 7 |
Switzerland
|
$67.8B | 4.38% | $43.3B | $24.5B | Chemicals & pharma | Precious metals & jewellery |
| 8 |
United Kingdom
|
$60.9B | 3.93% | $41.8B | $19.1B | Machinery & equipment | Business & finance services |
| 9 |
Belgium
|
$55.1B | 3.56% | $24.5B | $30.6B | Chemicals & pharma | Chemicals & pharma |
| 10 |
Poland
|
$44.3B | 2.86% | $24.2B | $20.1B | Machinery & equipment | Machinery & equipment |
Top 10 exports
|
Italy
|
Rank | |
|---|---|---|
| Machinery & equipment | $241B | 9/193 |
| Chemicals & pharma | $114B | 9/193 |
| Textiles & consumer goods | $95B | 3/193 |
| Transport & tourism services | $73.3B | 11/188 |
| Metals | $56.7B | 4/192 |
| Processed food, beverages & tobacco | $49.8B | 6/192 |
| Business & finance services | $47.4B | 13/188 |
| Raw materials & minerals | $33.9B | 34/193 |
| Precious metals & jewellery | $27.5B | 10/190 |
| IT & IP services | $16.7B | 17/183 |
Top 10 imports
|
Italy
|
Rank | |
|---|---|---|
| Machinery & equipment | $188B | 12/193 |
| Chemicals & pharma | $109B | 5/193 |
| Raw materials & minerals | $88.2B | 12/193 |
| Transport & tourism services | $68.6B | 9/188 |
| Business & finance services | $58.4B | 11/188 |
| Textiles & consumer goods | $56.6B | 7/193 |
| Metals | $56.1B | 4/193 |
| Processed food, beverages & tobacco | $29.9B | 9/193 |
| Animal & marine products | $24.6B | 4/193 |
| Precious metals & jewellery | $22.4B | 11/193 |
Economic freedom indices
|
Italy
|
Rank | |
|---|---|---|
| Economic freedom | 63.3 | 80/197 |
| Property rights | 84.8 | 33/182 |
| Government integrity | 60.8 | 44/182 |
| Judicial effectiveness | 80.9 | 28/182 |
| Tax burden | 57.5 | 173/182 |
| Government spending | 15.3 | 168/180 |
| Fiscal health | 17.2 | 156/181 |
| Business freedom | 74.5 | 48/182 |
| Labor freedom | 70.6 | 9/182 |
| Monetary freedom | 79.1 | 27/180 |
| Trade freedom | 79.4 | 44/181 |
| Investment freedom | 80 | 14/181 |
| Financial freedom | 60 | 49/181 |
Economic freedom by year
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 2026 | 63.3 | 80.9 | 57.5 | 15.3 | 17.2 |
| 2025 | 60.9 | 78.8 | 57.4 | 9.5 | 0 |
| 2024 | 60.1 | 77.7 | 57 | 2.5 | 0 |
| 2023 | 62.3 | 61.1 | 57.3 | 13.7 | 20.4 |
| 2022 | 65.4 | 78.6 | 57.7 | 20.6 | 49 |
| 2021 | 64.9 | 62.3 | 58.1 | 28.9 | 73 |
| 2020 | 63.8 | 51.3 | 56 | 28.5 | 71.1 |
| 2019 | 62.2 | 49.8 | 55.6 | 26.5 | 71.3 |
| 2018 | 62.5 | 60.9 | 55.2 | 24.1 | 68.2 |
| 2017 | 62.5 | 55.4 | 54.9 | 22.3 | 66.9 |
| 2016 | 61.2 | - | 55.8 | 22.1 | - |
| 2015 | 61.7 | - | 54.2 | 23.2 | - |
| 2014 | 60.9 | - | 55.5 | 25.6 | - |
| 2013 | 60.6 | - | 55.5 | 25.3 | - |
| 2012 | 58.8 | - | 55 | 19.4 | - |
| 2011 | 60.3 | - | 55.4 | 28.6 | - |
| 2010 | 62.7 | - | 55.2 | 31.2 | - |
| 2009 | 61.4 | - | 55.8 | 24.7 | - |
| 2008 | 62.6 | - | 54.3 | 29.4 | - |
| 2007 | 62.8 | - | 52.8 | 31.5 | - |
| 2006 | 62 | - | 52 | 29.1 | - |
| 2005 | 64.9 | - | 49.6 | 27.4 | - |
| 2004 | 64.2 | - | 49.7 | 31.7 | - |
| 2003 | 64.3 | - | 48 | 29.4 | - |
| 2002 | 63.6 | - | 48 | 33.7 | - |
| 2001 | 63 | - | 47.1 | 28 | - |
| 2000 | 61.9 | - | 45.6 | 22 | - |
| 1999 | 61.6 | - | 46.9 | 15.1 | - |
| 1998 | 59.1 | - | 43.3 | 14.5 | - |
| 1997 | 58.1 | - | 43.2 | 10.6 | - |
| 1996 | 60.8 | - | 42.2 | 0.1 | - |
| 1995 | 61.2 | - | 43.6 | 3.6 | - |
Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).
GeoRank.org/economy/italy | CC BY
Italy is ranked 73/174 for economic freedom with a score of 63.3, compared to 62/162 and a score of 62 in 2006.
Other economic metrics
|
Italy
|
Rank | |
|---|---|---|
| Services, % of GDP |
65%
2024 |
46/191 |
| Industry, % of GDP |
22.3%
2024 |
116/194 |
| Agriculture, forestry, and fishing, % of GDP |
2%
2024 |
150/193 |
|
GNI, Atlas method
|
$2.28T
2024 |
8/194 |
| GNI per capita, PPP |
$61,620
2024 |
28/191 |
| Total reserves including gold |
$291B
2024 |
12/177 |
|
Net foreign direct investment
|
$19B
2024 |
14/189 |
|
Net inflows of foreign direct investment
|
$26.9B
2024 |
17/193 |
|
Net outflows of foreign direct investment
|
$45.9B
2024 |
12/193 |
| Poverty at national poverty lines |
20.1%
2021 |
99/176 |
|
Gross capital formation, % of GDP
|
22.6%
2024 |
92/178 |
Compare Italy vs other countries
GDP per capita map
Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).
GeoRank.org/economy/italy | CC BY
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Data sources:
- World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
- International Monetary Fund (IMF) | Public Finances in Modern History (1861–1989, retrieved 2026-02-20)
- International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
- The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
- U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
- TradeMap (2023–2024, retrieved 2026-02-08)
- United Nations | World Population Prospects (2026, retrieved 2026-03-10)
- LivingCost (2026, retrieved 2025-10-14)
Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.
Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.