The publication 'The wealth of Italy's institutional sectors: 2005-2024' is available online

28 January 2026

Today, Banca d’Italia and Istat have released their joint annual publication on financial and non-financial wealth of Italy’s institutional sectors. The publication provides a comprehensive overview of the assets and of how they have changed over time in Italy, as well as a comparison with other advanced economies.

At the end of 2024, the net wealth of Italian households stood at €11,732 billion. Compared with 2023, it increased by 2.8 per cent at nominal values. However, net wealth in real terms is still more than 5 per cent lower compared with 2021, due to the high inflation observed in 2022. In 2024, the increase in non-financial assets (+1.9 per cent at nominal values) was driven by the rise in the value of dwellings, which recorded a marked growth over the last three years. Financial assets grew by 3.6 per cent, largely due to the upward trend in the market prices of mutual fund shares, debt securities and insurance reserves. Financial liabilities rose modestly due to the increase in other accounts payable (mainly trade debts). At international level, the ratio of households’ net wealth to gross disposable income remained stable in Italy and Canada, while it dropped in France and the United Kingdom for the third consecutive year.

In 2024, the net wealth of non-financial corporations stood at €1,015 billion. Among real assets of non-financial corporations, accounting for 56.6 per cent of their gross wealth, the value of real estate, followed by machinery and equipment, continued to grow. As regards financial instruments, the market value of the shares portfolio rose markedly. The stock of debt securities and deposits also increased. The ratio of indebtedness to non-financial assets declined in Italy as well as in the United Kingdom and Canada, while it grew in France.

The gross wealth of financial corporations increased by 1.2 per cent, ending the contraction phase started in 2022. On the asset side, the rise was mainly driven by shares and mutual fund shares. Liabilities also grew (+0.9 per cent), with a significant drop in deposit funding, while the values of mutual fund shares, equity and debt securities increased.

At the end of 2024, general government net wealth was negative by €1,522 billion, in deterioration compared with the previous year. This was due to the growth in liabilities (+3 per cent), while gross wealth remained broadly stable. At international level, the ratio of general government net wealth to GDP worsened only in Italy and France.

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