Economy, jobs and prices in Milano (Lombardy, Italy): official figures
GDP per person was 73,900 purchasing power standards (PPS) in 2023, 192% of the EU average (98% for Italy); the highest of 107 provinces in Italy.
How big is the economy of Milano?
The local economy produced €230.5 billion of output (GDP) in 2023.
Source: Eurostat · saved copyHow many people work in Milano?
About 2,127,000 people worked in Milano in 2023 (employment by place of work).
Source: Eurostat · saved copyWhat is the employment rate in Milan?
77.2% of Milan residents aged 20-64 were in work in 2024, 6th highest of 107 provinces; among women the rate was 71.4%.
Source: Istat (Istituto Nazionale di Statistica) · saved copyWhat is the average income in Milan?
Average disposable household income in Milan was €34,885 per resident in 2023, the highest among Italy's 107 provinces.
Source: Istat (Istituto Nazionale di Statistica) · saved copyWhat is the average salary in Milan?
The average annual gross pay of a private-sector employee in Milan was €34,343 in 2023, the highest in Italy (national average €23,630).
Source: Istat (Istituto Nazionale di Statistica) · saved copyWhat is the average pension in Milan?
Pensioners in Milan received an average of €26,348 a year in pension income in 2023, compared with €21,737 across Italy.
Source: Istat (Istituto Nazionale di Statistica) · saved copyWhat is the average declared income in Milan?
2,486,066 people in Milan filed a personal income tax (IRPEF) return for 2024, declaring an average total income of €34,803, the highest of Italy's 107 provinces (national average €25,816).
Source: Ministero dell'Economia e delle Finanze, Dipartimento delle Finanze · saved copyHow many high earners live in Milan?
11.4% of taxpayers in Milan declared more than €55,000 for 2024 and 2.29% more than €120,000, compared with 5.9% and 0.87% nationally.
Source: Ministero dell'Economia e delle Finanze, Dipartimento delle Finanze · saved copyWhat is the main industry in Milano?
The largest part of the economy of Milano in 2023 was finance, property and business services, at 38.6% of gross value added, followed by trade, transport, hospitality and communications (30.0%).
Source: Eurostat · saved copyHow industrial is Milano?
Factories, mines and energy produced 15.3% of the value added in Milano in 2023, against 20.3% for Italy.
Source: Eurostat · saved copyHow fast is the economy of Milano growing?
Gross value added rose from €150.2 billion in 2015 to €207.1 billion in 2023 in current prices, an increase of 38% before inflation.
Source: Eurostat · saved copyWhat jobs do people do in Milano?
Of the 2,127,000 jobs located in Milano in 2023, 24% in public services, education, health and other services, 12% in industry and 0.3% in farming, forestry and fishing.
Source: Eurostat · saved copyAre jobs growing in Milano?
The number of people working in Milano rose by 14.2% between 2015 and 2023, to 2,127,000.
Source: Eurostat · saved copyMore figures
- The labour non-participation rate (the unemployed plus people available to work but not looking, as a share of the labour force) in Milan was 7.9% in 2024, below the national figure of 13.3%. Source: Istat (Istituto Nazionale di Statistica) · saved copy
- Among young people aged 15 to 29 in Milan, 40.6% were employed in 2024 and the youth non-participation rate was 16.1% (national figures: 34.4% and 25.7%). Source: Istat (Istituto Nazionale di Statistica) · saved copy
- Employees in Milan were paid for 82.7% of a full working year (312 days) on average in 2023, a measure of how stable jobs are (78.9% nationally). Source: Istat (Istituto Nazionale di Statistica) · saved copy
- There were 6.4 fatal or permanently disabling workplace accidents per 10,000 workers in Milan in 2022 (below the national figure of 11.0). Source: Istat (Istituto Nazionale di Statistica) · saved copy
- In 2024, 60% of taxpayers in Milan declared employment income (average €32,997) and 31% declared pension income (average €27,212). Source: Ministero dell'Economia e delle Finanze, Dipartimento delle Finanze · saved copy
How Milano compares with other provinces in Italy
Disposable household income per person (€) (2023)
Milano ranks 1 of 107, highest first.
| Rank | Area | Disposable household income per person (€) |
|---|---|---|
| 1 | Milano | €34,885 |
| 2 | Bolzano-Bozen | €31,352 |
| 3 | Monza e della Brianza | €29,452 |
| 4 | Bologna | €28,561 |
| 5 | Genova | €27,106 |
| 6 | Parma | €27,083 |
| 7 | Reggio nell’Emilia | €26,654 |
Average gross annual pay, private-sector employees (€) (2023)
Milano ranks 1 of 107, highest first.
| Rank | Area | Average gross annual pay, private-sector employees (€) |
|---|---|---|
| 1 | Milano | €34,343 |
| 2 | Monza e della Brianza | €28,833 |
| 3 | Parma | €27,869 |
| 4 | Modena | €27,672 |
| 5 | Bologna | €27,603 |
| 6 | Reggio nell’Emilia | €26,937 |
| 7 | Lecco | €26,767 |
Average declared income per taxpayer (€) (2024)
Milano ranks 1 of 107, highest first.
| Rank | Area | Average declared income per taxpayer (€) |
|---|---|---|
| 1 | Milano | €34,803 |
| 2 | Bologna | €30,686 |
| 3 | Monza e della Brianza | €30,578 |
| 4 | Lecco | €29,906 |
| 5 | Bolzano-Bozen | €29,846 |
| 6 | Parma | €29,771 |
| 7 | Roma | €29,710 |
Employment rate, ages 20-64 (%) (2024)
Milano ranks 6 of 107, highest first.
| Rank | Area | Employment rate, ages 20-64 (%) |
|---|---|---|
| 3 | Prato | 79.6% |
| 4 | Padova | 78.3% |
| 5 | Valle d’Aosta/Vallée d’Aoste | 77.6% |
| 6 | Milano | 77.2% |
| 7 | Siena | 77.2% |
| 8 | Bologna | 76.9% |
| 9 | Piacenza | 76.9% |
Share of output from industry (manufacturing, mining and energy) (2023)
Milano ranks 70 of 107, highest first.
| Rank | Area | Share of output from industry (manufacturing, mining and energy) |
|---|---|---|
| 67 | Bolzano-Bozen | 15.8% |
| 68 | Rimini | 15.5% |
| 69 | Valle d’Aosta/Vallée d’Aoste | 15.4% |
| 70 | Milano | 15.3% |
| 71 | Siracusa | 15.3% |
| 72 | Salerno | 15.1% |
| 73 | Isernia | 14.2% |
Share of output from finance, property and business services (2023)
Milano ranks 1 of 107, highest first.
| Rank | Area | Share of output from finance, property and business services |
|---|---|---|
| 1 | Milano | 38.6% |
| 2 | Roma | 32.5% |
| 3 | Imperia | 32.0% |
| 4 | Trieste | 31.8% |
| 5 | Como | 31.2% |
| 6 | Biella | 31.0% |
| 7 | Siena | 30.8% |
Share of output from public administration, education, health and other services (2023)
Milano ranks 107 of 107, highest first.
| Rank | Area | Share of output from public administration, education, health and other services |
|---|---|---|
| 101 | Brescia | 12.7% |
| 102 | Lecco | 12.4% |
| 103 | Vicenza | 12.2% |
| 104 | Modena | 12.1% |
| 105 | Bergamo | 11.9% |
| 106 | Reggio nell’Emilia | 11.9% |
| 107 | Milano | 11.6% |
More on Milano: overview · health · education and schools · poverty and living standards · government budget · government and politics · Lombardy · Italy
Sources
- Eurostat: Eurostat dataset nama_10r_3gdp: GDP per person, PPS (NUTS 3), read 23 October 2026 · saved copy (SHA-256 3bf0fc662f56…)
- Eurostat: Eurostat dataset nama_10r_3gdp: GDP, million euros (NUTS 3), read 23 October 2026 · saved copy (SHA-256 096e15e5fdb3…)
- Eurostat: Eurostat dataset nama_10r_3empers: Employment, thousand people (NUTS 3), read 23 October 2026 · saved copy (SHA-256 664e4e3a6dc0…)
- Eurostat: Eurostat dataset nama_10r_3empers: Employment (thousand persons) by NUTS 3 region and industry, read 23 October 2026 · saved copy (SHA-256 222a97c302d3…)
- Istat (Istituto Nazionale di Statistica): BES dei territori, edizione 2025: well-being indicators for the 107 provinces and metropolitan cities (Indicatori_per_provincia_sesso_ed.2025.xlsx), read 23 October 2026 · saved copy (SHA-256 90f90043ad3d…)
- Ministero dell'Economia e delle Finanze, Dipartimento delle Finanze: Redditi e principali variabili IRPEF su base comunale, anno d'imposta 2024 (personal income tax returns by municipality), read 23 October 2026 · saved copy (SHA-256 75cecc95d72b…)
- Eurostat: Eurostat dataset nama_10r_3gva: Gross value added at basic prices by NUTS 3 region and industry, read 23 October 2026 · saved copy (SHA-256 c656e8563bdf…)
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