Italy's Economic Milestone in 2024

In a remarkable display of economic resilience, Italy's gross domestic product (GDP) witnessed a 0.7% increase in real terms in 2024, as reported by the National Institute of Statistics (Istat). This growth signifies a positive shift in the country's economic landscape, with GDP at current prices soaring by 2.9%.

Driving Forces Behind the Growth

The primary engine behind this economic expansion was national demand, excluding inventory changes, which contributed a significant 0.5 percentage points. Following closely were final consumption expenditure and the external balance of goods and services, each adding 0.4 percentage points to the growth.

Sector-Specific Advancements

Delving deeper into the numbers, gross fixed capital formation and final consumption expenditure experienced rises of 0.5% and 0.6%, respectively. The export sector also saw a 0.4% uptick, whereas imports took a slight downturn, decreasing by 0.7%.