Italy's GDP grows 6,6% in 2021; expansion is the biggest since 1976

The Gross Domestic Product (GDP) of Italy grew by 6,6% in 2021. The result shows a sharp recovery from the Covid-19 pandemic recession a year earlier, according to data from the country's statistics office, Istat, released this Tuesday. The expansion in 2021, driven by domestic demand, is the sharpest since 1976.

The economy's sharp rise partially offsets the record 9% contraction recorded in 2020, when activity was hit by multiple lockdowns in an effort to contain the spread of the coronavirus.

For 2022, Istat predicts annual expansion of 4,7%, a rate that would take the Italian economy to the level before the covid-19 pandemic.