Italy: Goods and services expense (current LCU)

Key figures

What the numbers say

In 2024, Italy's goods and services expense (current LCU) rose 11.9% on 2023 (from 29.05 billion to 32.52 billion).

Across the 30 yearly changes before that (1994 to 2023), the average change was +2.1% and a typical year strayed about 5.5% from that (the standard deviation). This year's change was 1.8 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 37% in 1978 and the biggest yearly fall was 6.4% in 2014. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is upward, about 973.23 million a year. A straight line explains 77% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Italy had the 47th highest value of the 89 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Italy in the 2024 ranking

• Malaysia — 44th of 89: 37.67 billion
• Mozambique — 45th of 89: 36.79 billion
• Singapore — 46th of 89: 34.23 billion
• Netherlands — 48th of 89: 32.19 billion
• Zambia — 49th of 89: 23.67 billion
• New Zealand — 50th of 89: 21.84 billion

What this measures

Goods and services include all government payments in exchange for goods and services used for the production of market and nonmarket goods and services. Use of goods and services for account capital formation is excluded. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

All 47 values

Goods and services expense (current LCU) in nearby economies

• Albania — 57.5 billion (2024)
• Armenia — 119.97 billion (2024)
• Austria — 15.41 billion (2024)
• Azerbaijan — 13.81 billion (2024)
• Belarus — 10 billion (2024)
• Belgium — 6.97 billion (2024)
• Bosnia and Herzegovina — 3.29 billion (2024)
• Bulgaria — 2.84 billion (2024)
• Croatia — 3.19 billion (2023)
• Cyprus — 1.21 billion (2024)

More public sector data for Italy

• Arms imports (SIPRI trend indicator values) — 566 million (2025)
• Military expenditure (current USD) — 48.14 billion (2025)
• Military expenditure (current LCU) — 42.68 billion (2025)
• Military expenditure (% of GDP) — 1.89% (2025)
• Arms exports (SIPRI trend indicator values) — 1.92 billion (2025)
• Grants and other revenue (current LCU) — 58.5 billion (2024)
• Social contributions (current LCU) — 278.44 billion (2024)
• Taxes on goods and services (current LCU) — 213.15 billion (2024)
• Other taxes (current LCU) — 38.15 billion (2024)
• Tax revenue (current LCU) — 563.82 billion (2024)

Reading data like this

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Questions people ask

What is Italy's goods and services expense (current LCU)?

32.52 billion in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1973?

It is up 3,346% from 943.57 million in 1973 (7.19% a year on average, compounded). The highest value was 32.52 billion in 2024 and the lowest 943.57 million in 1973.

How does Italy rank?

47th highest of 89 economies with data for 2024.

Is the latest change in goods and services expense (current LCU) unusual for Italy?

In 2024, Italy's goods and services expense (current LCU) rose 11.9% on 2023 (from 29.05 billion to 32.52 billion). Across the 30 yearly changes before that (1994 to 2023), the average change was +2.1% and a typical year strayed about 5.5% from that (the standard deviation). This year's change was 1.8 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

Source

World Bank, World Development Indicators, indicator GC.XPN.GSRV.CN, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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