Istat has revised upwards the real growth of the Italian economy over the last decade and, thus, in 2010, GDP rose to 1,5% from the previously estimated 1,3%..
The new estimate of the national accounts, as established in Europe for all EU countries, it is linked to the new classification of economic activities and to the innovation of methodologies and sources.
" revision of the exchange with foreign countries – explained the technicians of the institute – it pushed industrial growth and, therefore, also the GDP”.
Based on the new classification, the average annual change in GDP in volume is, for the decade 2000-2010, equal to 0,4%, 0,2 percentage points higher than the previous one.
In the same decade, however, the internal demand (consumption and investments) in volume shows a trend similar to that of the previous estimates. The updating of the system of price indicators used for the deflation of trade flows with foreign countries has instead led to a significant revision, in fact, upwards of the growth of both exports (from -0,2% to 1,2% on average per year) and imports (from 1% to 2%).
In the same period the trend of added value in the volume of industry in the strict sense and of construction is more accentuated compared to previous estimates, while for the services there are no substantial changes. The estimates of the work units have not undergone changes in the overall level, but have been the subject of a detailed reclassification - explained the institute - by economic activity.
Therefore, the estimates for 2008 and 2009 have also been revised upwards. The GDP in 2009 lost 5,1% against the 5,2% previously estimated. In 2008, the GDP decreased by 1,2% compared to the 1,3% previously estimated.
