Export growth takes Italy out of recession at the beginning of 2019

The Italian economy recovered its momentum in the first quarter of 2019 thanks to exports

Italy's gross domestic product (GDP) grew 0,2% in the first quarter of 2019, compared to the previous period, according to preliminary estimates from Istat released on Tuesday (30).

If the forecast is confirmed, the Italian economy will have emerged from a technical recession, characterized by two periods of decline in GDP (both -0,1%), in consecutive quarters of 2018.

According to Istat, in the annual comparison, that is, in relation to the first quarter of 2018, GDP growth in 2019 should be 0,1%.

Istat data points to a “positive result in the labor market, with the unemployment rate falling, to 10,2% in March”, commented the Italian Economy Minister, Giovanni Tria.

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The performance of Italian GDP is due to the improvement in exports in the agricultural, industrial and services sectors.

The government's expectation is that the 2019 GDP will grow by 0,2% in real terms. After 11 years of the global economic collapse, Italian GDP is still 5% below pre-crisis levels.

With information from Ansa Agency