Italy's Gross Domestic Product (GDP) amounted to 2.13 trillion euros in 2023. The Italian economy grew at low rates between 2010 and 2019, and significantly shrank in 2020 following the consequences of the pandemic on the global economy. However, since 2021, GDP recorded a steady uprise, with remarkably higher growth rates compared to the pre-pandemic period. A difficult outlook for the Italian economy Besides the positive performance recorded right after the COVID-19 pandemic, projections indicate a different outlook. The slow growth of the Italian economy, less than one percent each year from 2024 to 2029, is believed to remove Italy from the giants of the global players. Indeed, by 2028, the ranking of the world's largest economies might appear quite different from the present one. In addition to slow growth, Italy's economy is characterized by large internal disparities. After 160 years of national unity, the country is economically still very divided, as data on unemployment, GDP, and poverty confirm. National debt: Italy's most difficult challenge Italy still ranges among the top-20 largest economies in the world. However, the large amount of the national debt risks hampering future growth. In 2023, it reached 134 percent of the GDP, equivalent to 3.1 trillion U.S. dollars, and forecasts expect figures to increase over the coming years. By 2029, the debt-to-GDP ratio may hit 145 percent. A large amount of national debt significantly limits the government's possibility to earmark resources for public investments. In fact, a considerable share of the state budget is devoted to reimbursing the debt.

Graph and download economic data for Real gross domestic product per capita (A939RX0Q048SBEA) from Q1 1947 to Q1 2025 about per capita, real, GDP, and USA.

Key information about Italy Government Debt: % of GDP

• Italy Government debt accounted for 135.3 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 136.2 % in the previous quarter.
• Italy government debt to GDP ratio data is updated quarterly, available from Dec 1995 to Dec 2024.
• The data reached an all-time high of 159.9 % in Mar 2021 and a record low of 103.9 % in Dec 2007.

CEIC calculates quarterly Government Debt as % of Nominal GDP from monthly Government Debt and rolling sum of quarterly Nominal GDP. The Bank of Italy provides Government Debt in EUR. Italian National Institute of Statistics provides Nominal GDP in EUR.


Related information about Italy Government Debt: % of GDP

• In the latest reports, Italy National Government Debt reached 3,069.8 USD bn in Dec 2024.
• The country's Nominal GDP reached 538.7 USD bn in Mar 2023.

GDP deflator: linked series (base year varies by country) in Kenya was reported at 154 year in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Kenya - GDP deflator: linked series (base year varies by country) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Togo: Military spending, percent of GDP: The latest value from 2022 is 5.44 percent, an increase from 3.11 percent in 2021. In comparison, the world average is 1.98 percent, based on data from 145 countries. Historically, the average for Togo from 1961 to 2022 is 2.12 percent. The minimum value, 0.27 percent, was reached in 1961 while the maximum of 5.44 percent was recorded in 2022.

United States GDP: VA: QI: Government: Federal: GG: National Defense data was reported at 96.422 2009=100 in 2017. This records a decrease from the previous number of 96.857 2009=100 for 2016. United States GDP: VA: QI: Government: Federal: GG: National Defense data is updated yearly, averaging 91.128 2009=100 from Dec 1997 (Median) to 2017, with 21 observations. The data reached an all-time high of 104.689 2009=100 in 2011 and a record low of 82.490 2009=100 in 2001. United States GDP: VA: QI: Government: Federal: GG: National Defense data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s United States – Table US.A145: NIPA 2013: GDP by Industry: Value Added: Quantity Index: 2009=100: Annual.

The ratio of national debt to gross domestic product (GDP) of Italy was about 135.29 percent in 2024. From 1988 to 2024, the ratio rose by approximately 39.57 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. Between 2024 and 2030, the ratio will rise by around 2.41 percentage points, showing an overall upward trend with periodic ups and downs.The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.

Latvia: Military spending, percent of GDP: The latest value from 2022 is 2.05 percent, a decline from 2.07 percent in 2021. In comparison, the world average is 1.98 percent, based on data from 145 countries. Historically, the average for Latvia from 1992 to 2022 is 1.27 percent. The minimum value, 0.58 percent, was reached in 1997 while the maximum of 2.15 percent was recorded in 2020.

United States GDP: VA: QI: Government: Federal: General Government (GG) data was reported at 100.948 2009=100 in 2017. This records a decrease from the previous number of 101.073 2009=100 for 2016. United States GDP: VA: QI: Government: Federal: General Government (GG) data is updated yearly, averaging 91.634 2009=100 from Dec 1997 (Median) to 2017, with 21 observations. The data reached an all-time high of 104.515 2009=100 in 2011 and a record low of 82.509 2009=100 in 1999. United States GDP: VA: QI: Government: Federal: General Government (GG) data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s United States – Table US.A145: NIPA 2013: GDP by Industry: Value Added: Quantity Index: 2009=100: Annual.

The gross domestic product (GDP) in current prices in Tonga was estimated at about 539 million U.S. dollars in 2024. Between 1980 and 2024, the GDP rose by approximately 468 million U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The GDP will steadily rise by around 145 million U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.This indicator describes the gross domestic product at current prices. The values are based upon the GDP in national currency converted to U.S. dollars using market exchange rates (yearly average). The GDP represents the total value of final goods and services produced during a year.

Merchandise trade (% of GDP) in Malaysia was reported at 145 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Malaysia - Merchandise trade (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

Italy GDP: 1990p: Total Resources data was reported at 87,468.000 ITL bn in Sep 1998. This records a decrease from the previous number of 89,377.000 ITL bn for Jun 1998. Italy GDP: 1990p: Total Resources data is updated quarterly, averaging 40,019.000 ITL bn from Mar 1970 (Median) to Sep 1998, with 115 observations. The data reached an all-time high of 89,377.000 ITL bn in Jun 1998 and a record low of 22,126.000 ITL bn in Mar 1970. Italy GDP: 1990p: Total Resources data remains active status in CEIC and is reported by National Institute of Statistics. The data is categorized under Global Database’s Italy – Table IT.A145: GDP by Industry: 1990 Price: LIRE.

Graph and download economic data for Real motor vehicle output: Change in private inventories: Autos (A145RX1A020NBEA) from 2007 to 2024 about output, inventories, vehicles, private, real, GDP, and USA.

United States GDP: VA: QI: Pvt Goods Producing Industries data was reported at 115.645 2009=100 in 2017. This records an increase from the previous number of 113.830 2009=100 for 2016. United States GDP: VA: QI: Pvt Goods Producing Industries data is updated yearly, averaging 102.630 2009=100 from Dec 1997 (Median) to 2017, with 21 observations. The data reached an all-time high of 115.645 2009=100 in 2017 and a record low of 84.145 2009=100 in 1997. United States GDP: VA: QI: Pvt Goods Producing Industries data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s United States – Table US.A145: NIPA 2013: GDP by Industry: Value Added: Quantity Index: 2009=100: Annual.

Italy: Military spending, percent of GDP: The latest value from 2022 is 1.68 percent, a decline from 1.72 percent in 2021. In comparison, the world average is 1.98 percent, based on data from 145 countries. Historically, the average for Italy from 1960 to 2022 is 1.89 percent. The minimum value, 1.21 percent, was reached in 2015 while the maximum of 2.99 percent was recorded in 1966.

Ireland - GDP deflator was EUR145.41 points in March of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Ireland - GDP deflator - last updated from the EUROSTAT on June of 2025. Historically, Ireland - GDP deflator reached a record high of EUR145.41 points in March of 2025 and a record low of EUR119.21 points in September of 2020.

Italy GDP: 1990p: Consumption of Fixed Capital data was reported at 26,808.000 ITL bn in Sep 1998. This records an increase from the previous number of 26,586.000 ITL bn for Jun 1998. Italy GDP: 1990p: Consumption of Fixed Capital data is updated quarterly, averaging 18,419.000 ITL bn from Mar 1970 (Median) to Sep 1998, with 115 observations. The data reached an all-time high of 26,808.000 ITL bn in Sep 1998 and a record low of 9,226.000 ITL bn in Jun 1970. Italy GDP: 1990p: Consumption of Fixed Capital data remains active status in CEIC and is reported by National Institute of Statistics. The data is categorized under Global Database’s Italy – Table IT.A145: GDP by Industry: 1990 Price: LIRE.

Graph and download economic data for Automobile output: Change in private inventories of new and used autos (A145RC1Q027SBEA) from Q1 1947 to Q1 2025 about used, output, inventories, vehicles, new, private, GDP, and USA.

Graph and download economic data for Real motor vehicle output: Change in private inventories: Autos (A145RX1Q020SBEA) from Q1 2007 to Q1 2025 about output, inventories, vehicles, private, real, GDP, and USA.

The average for 2022 based on 145 countries was 1.98 percent. The highest value was in Ukraine: 33.55 percent and the lowest value was in Haiti: 0.07 percent. The indicator is available from 1960 to 2022. Below is a chart for all countries where data are available.