Annual Sector Accounts / Years 1995-2024

Growth in households saving rate and decrease in corporations profit share.

In 2024 gross disposable income grows by 2.7% and households purchasing power by 1.3%. Final consumption expenditure increases by 1.7% and households saving rate grows up to 9.0%, from 8.2% in 2023.

Households investment rate decreases to 9.3% from 10.2% in 2023.

Non-financial corporations profit share decreases to 43.3% (46.1% in 2023) as gross operating surplus declines by 5.2% and value added slightly rises by 0.9%. Investment rate of non-financial corporations remains substantially unchanged standing at 22.0%.

The behaviour of economic operators in the economic process

The sequence of annual sector accounts described hereafter, as compared to those released in September 2024, provides estimates for year 2024 and updates estimates for years 2022-2023.

This report focuses on the last three years, complete time series since 1995 are available on IstatData.

Non-financial institutional sector accounts describe the economic results achieved by households, corporations, non-profit institutions and general government during the different phases of the economic cycle. The behavior of resident operators is described starting from production and generation of income, through its distribution and re-distribution to economic operators. Furthermore, the sector accounts also document the use of disposable income for consumption and saving and how the saving, along with net capital transfers, is used for fixed capital formation, changes in inventories, acquisition of valuables.  If saving and capital transfers exceed capital investment, net lending occurs (financial savings); on the contrary, net borrowing is registered and capital investment must be covered with external resources.

In 2024, Italy’s final position remained positive, net lending measured 19.2 billion euros, due to the positive external balance of goods and services that compensated for the decrease in received capital transfers. Net borrowing of general government decreases by 78.7 billion euros compared to 2023, reaching -75.5 billion euros (-154.3 billion euros in 2023). Households net lending collapsed to almost zero (-54.5 billion euros compared to 2023), due to the cutoff of investment grants received by general government for purchase and extraordinary maintenance of dwellings. Non-financial corporations net lending worsened, standing at 35.6 billion euros (-27.8 billion euros compared to 2023), mainly due to the decrease of gross operating surplus and investment grants received by general government. Net lending of financial corporations improved, measuring 48.6 billion euros (+4.7 billion euros compared to 2023), due to the trend of primary income.