Italy's National Institute of Statistics (ISTAT) reported the country's Gross Domestic Product (GDP) grew 6.5 percent in 2021 compared to the previous year. Gross Domestic Product (GDP) is the market value of all goods and services produced by a country in a certain period. GDP is one method for calculating national income. This technique is used most often. According to seasonal and calendar-adjusted data, national output rose 0.6 percent in the fourth quarter of last year against the third quarter. And up 6.4 percent against the same period in 2020.

"The Italian economy expanded for the fourth straight quarter, albeit at a slower pace than the previous period," the agency said. "The quarter-on-quarter change is the result of a decrease in value-added in agriculture, forestry and fisheries and an increase in industry and services." Furthermore, ISTAT explained that quarterly growth in the last quarter of 2021 was strongly supported by domestic demand and felt the negative effects of the net export component. Overall, forecasts for 6.5 percent annual growth in 2021 will rebound. After previously declining 8.9 percent in 2020, when the country was hit by the COVID-19 pandemic. Giovanni Savio, head of ISTAT's National Accounts Directorate, said it was the highest annual growth recorded in the country since 1976.

Source: https://www.medcom.id/ekonomi/global/Rb1GVjdK-2021-ekonomi-italia-naik-6-5