The new publication 'The wealth of Italian households and non-financial corporations' is available online

Today, the Bank of Italy and Istat have released their first joint annual publication on the wealth of Italian households and non-financial corporations. The estimates on wealth are based on the financial assets and liabilities published by the Bank of Italy and on the non-financial assets compiled by Istat. The publication provides a comprehensive description of the assets held by households and non-financial corporations and of how they have changed over time. It is also possible to make a comparison with other advanced economies, bearing in mind that international comparability remains imperfect.

At the end of 2017, the net wealth of Italian households stood at €9,743 billion, eight times the size of their disposable income. Dwellings were the main component of investment for households: with a value of €5,246 billion, they accounted for half of gross wealth. Total household liabilities equalled €926 billion, a level which, compared to income, was lower than in other countries. Financial assets reached €4,374 billion, up compared with the previous year; however, in proportion to net wealth they remained lower than the level recorded in other economies.

The net wealth of non-financial corporations amounted to €1,053 billion. Total assets equalled €4,943 billion, 63 per cent of which were non-financial assets. The financial component grew between 2013 and 2017, up to €1,840 billion. In contrast, there was a decline in the value of real assets, which largely consist of non-residential real estate and machinery and equipment. Recourse to financing through securities and loans equalled €1,233 billion, a limited amount by international comparison.