Italian Economy Sees Significant Growth in 2024

In a remarkable turn of events, the Italian economy expanded by 0.7% in 2024, as reported by the National Institute of Statistics (Istat) on Monday. This growth, when measured in real terms, marks a significant upturn from the previous year, with the GDP at current prices witnessing a 2.9% increase.

Key Drivers of Economic Growth

The primary contributor to this economic expansion was national demand, excluding changes in inventories, which added 0.5 percentage points to the GDP growth. Following closely were final consumption expenditure and the external balance of goods and services, each contributing 0.4 percentage points to the growth.

Investment and Trade Dynamics

Gross fixed capital formation and final consumption expenditure saw increases of 0.5% and 0.6%, respectively. On the trade front, exports rose by 0.4%, while imports experienced a decline of 0.7%, further fueling the nation's economic momentum.