This volume presents the national accounts of Italy for 1891, 1938 and 1951 (and an updated version of the national accounts relating to 1911, published in «Statistics» 1.2). Estimates of current prices value added at factor cost, at the class and sub-class levels, have been published in volume 2 (1.3°°). In this volume l (1.3 °) the Supply and Use tables, reconstructed by O. Vitali, are presented. The volume also contains a revision of the current accounts of the balance of payments carried out by A. Biagioli and C. Picozza and a study by S. Clementi focusing on the changes in the structure of foreign trade. In the introduction, G.M. Rey provides a picture of the new features emerging from the new data, based on comparison with Istat estimates. The comparison is completed by G. Pedullà who explains the main methodological differences.
The most relevant innovations are related to constructions and services, on the supply side; and to private consumption and investments on the Use side.
In summary: compared to Istat estimates, the new 1938 GDP is barely higher, while the new 1951 estimate it is more than 16 percent greater than the old Istat estimate. In the remaining two years, the discrepancies between old and new aggregate estimates are less than 10 percent, but at the sectoral level, in some cases, divergences are remarkable.
