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Press release

GDP and General Government net borrowing

The National Institute of Statistics releases the estimates of Gross Domestic Product (GDP) and General Government debt in accordance with the definitions of the European System of Accounts (ESA95) and Council Regulation (EC) n. 479/2009.

In 2011, GDP at current prices increased by 1.7% to 1,580,220 millions of euro compared with the previous year.

The chained volume measure of GDP rose by 0.4%, following a  1.8%  increase in 2010.

Growth was mostly attributable to the increase in Exports (+5.6%), partly offset by a slowdown in Gross fixed capital formation (-1.9%) and in General Government final consumption expenditure (-0.9%).

General Government net borrowing added up to -62,363 millions of euro (-3.9% of GDP), improving the result of the previous year (-4.6% of GDP), while General Government debt reached 1,897,946 millions of euro (120.1% of GDP).

Reference period: Year 2011

Date of Issue: 02 March 2012

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