Annual National Accounts - Year 2023

Istat publishes today the 2024 general revision of national accounts data, agreed at the European level, which introduces innovations and improvements in methods and sources. The time series since 1995 are made available on the data warehouse IstatData.

In 2023 GDP at current prices is equal to 2,128,001 million euro, grew by +6.6% compared with the previous year. The chained volume measure of GDP increased by +0.7%.

Gross fixed capital formation rose in volume by +8.5%, final consumption expenditure by +1.2%, exports by +0.8% while imports of goods and services decreased by -0.4%.

In terms of contributions to GDP growth, national demand (excluding changes in inventories) contributed by +2.8 percentage points, net exports by +0.4 percentage points and changes in inventories by -2.5 percentage points.

Value added in volume increased in construction (+6.7%) and service activities (+1.1%), while it decreased in agriculture, forestry and fishing (-3.5%) and in mining and quarrying, manufacturing and other industrial activities (-1.6%).

General government net borrowing is -7.2% of GDP (-8.1% in 2022). Primary balance (General government net borrowing net of interests) is -3.5% of GDP (-4.0% in 2022).