Strong as a nation: Lombardy ranks 10th in GDP among EU countries
Top for growth in 2019 in Edison Foundation data. Among the four largest economies it has the highest decline in joblessness
by Luca Orlando
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3' min read
3' min read
Ahead of Austria, a pasting away from Ireland. When discussing Lombardy and its role on the international scene, the expression 'engine of Europe' is by no means a stretch.
We are talking about an area whose gross domestic product, 481 billion euro, ranks tenth in Europe: not among regions, but taking individual states into account.
The data presented by Assolombarda at the annual meeting held at Bocconi University and processed in collaboration with the Edison Foundation directed by Marco Fortis, trace the profile of a territory that is 'heavy' in economic terms (worth as much as Greece and Portugal put together) but also and above all dynamic compared to its partners. In fact, looking at the post-Covid reaction to 2019-2023 growth, a 6.7% leap in GDP is observed for Lombardy. Two points above the Italian average, almost double that of the albeit dynamic Spain, almost three times as much compared to France. With a sidereal distance compared to Berlin, nailed in a recession that allows a positive balance of just half a percentage point in four years. A situation, that of the Gross Domestic Product in absolute terms, which does not change if we examine per capita values: here too Lombardy has been able to do better than the national average and the main continental economies.
If Italy can present itself at the top of the ranking (it is third in Europe in terms of GDP and industrial added value), it owes it first and foremost to the strength of this territory, with the provinces represented by Assolombarda (in addition to Milan, also Monza-Brianza, Lodi and Pavia), which alone account for 13% of the entire national gross product (and 58% of that of Lombardy), a share that is not dissimilar when looking at both the industrial (12%) and services (14%) sectors.
Lombardy, which, if it were a state, could therefore sit 'as equals' at every negotiating table, on the strength of a tenth place in Europe in terms of both gross domestic product and per capita GDP, added value per person that with reference to industry alone even reaches fifth place in Europe, behind only Ireland, Denmark, Germany and Austria. But well ahead of France, Sweden, Finland and the Netherlands, at twice the level of Spain.
