Annual national accounts

Istat publishes today the new national accounts data corresponding to the benchmark revision of methods and sources, 5 years after the introduction of ESA 2010, as recommended at the European level. The operation has been carried out for the reference year 2016, as for that year all the relevant structural information become available. Time series consistent with this benchmark estimate were compiled back to 1995 and are available on the data warehouse I.stat.

In 2018 GDP at current prices increased by +1.7% (to 1,765,421 million euro) compared with the previous year. The chained volume measure of GDP increased by +0.8%.

Gross fixed capital formation increased in volume by +3.2% and final consumption expenditure by +0.7%. Imports of goods and services increased by +3.0% and exports by +1.8%.

National demand has contributed to GDP growth by +1.1 percentage points (+1.0 excluding changes in inventories) and net exports by -0.3 points.

Value added in volume increased in all the main sectors: +2.0% in mining and quarrying, manufacturing and other industrial activities, +2.4% in constructions, +0.7% in agriculture, forestry and fishing and +0.6% in services activities.

General Government net borrowing was -38,551 million euro: -2.2 % of GDP, compared with -2.4 % in 2017.

Primary balance (General Government net borrowing net of interests) was +1.5 % of GDP (+1.3 % in 2017).