The Italian economy grew by 3.7 percent in 2022, easing considerably from the upwardly revised 7 percent jump in the previous year but extending its recovery from the slump in 2020 brought by the pandemic. The economy posted growth despite seeing soaring energy prices due to the war in Ukraine and aggressive GDP hikes by the European Central Bank to tame inflation. In 2023, the European Commission expects the Italian economy to expand by 0.8%, while the Italian Government and the IMF forecast a slower 0.6% growth. source: National Institute of Statistics (ISTAT)
Full Year GDP Growth in Italy averaged 0.61 percent from 1996 until 2022, reaching an all time high of 7.00 percent in 2021 and a record low of -9.00 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 June of 2023.