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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.

GDP per person (PPS)
73,900
2023
People in work
2,127,000
2023

How big is the economy of Milano?

The local economy produced €230.5 billion of output (GDP) in 2023.

Source: Eurostat · saved copy

How many people work in Milano?

About 2,127,000 people worked in Milano in 2023 (employment by place of work).

Source: Eurostat · saved copy

What 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 copy

What 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 copy

What 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 copy

What 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 copy

What 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 copy

How 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 copy

What 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 copy

How 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 copy

How 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 copy

What 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 copy

Are 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 copy

More figures

How Milano compares with other provinces in Italy

Disposable household income per person (€) (2023)

Milano ranks 1 of 107, highest first.

RankAreaDisposable household income per person (€)
1Milano€34,885
2Bolzano-Bozen€31,352
3Monza e della Brianza€29,452
4Bologna€28,561
5Genova€27,106
6Parma€27,083
7Reggio nell’Emilia€26,654
Source: Istat (Istituto Nazionale di Statistica) · saved copy

Average gross annual pay, private-sector employees (€) (2023)

Milano ranks 1 of 107, highest first.

RankAreaAverage gross annual pay, private-sector employees (€)
1Milano€34,343
2Monza e della Brianza€28,833
3Parma€27,869
4Modena€27,672
5Bologna€27,603
6Reggio nell’Emilia€26,937
7Lecco€26,767
Source: Istat (Istituto Nazionale di Statistica) · saved copy

Average declared income per taxpayer (€) (2024)

Milano ranks 1 of 107, highest first.

RankAreaAverage declared income per taxpayer (€)
1Milano€34,803
2Bologna€30,686
3Monza e della Brianza€30,578
4Lecco€29,906
5Bolzano-Bozen€29,846
6Parma€29,771
7Roma€29,710
Source: Ministero dell'Economia e delle Finanze, Dipartimento delle Finanze · saved copy

Employment rate, ages 20-64 (%) (2024)

Milano ranks 6 of 107, highest first.

RankAreaEmployment rate, ages 20-64 (%)
3Prato79.6%
4Padova78.3%
5Valle d’Aosta/Vallée d’Aoste77.6%
6Milano77.2%
7Siena77.2%
8Bologna76.9%
9Piacenza76.9%
Source: Istat (Istituto Nazionale di Statistica) · saved copy

Share of output from industry (manufacturing, mining and energy) (2023)

Milano ranks 70 of 107, highest first.

RankAreaShare of output from industry (manufacturing, mining and energy)
67Bolzano-Bozen15.8%
68Rimini15.5%
69Valle d’Aosta/Vallée d’Aoste15.4%
70Milano15.3%
71Siracusa15.3%
72Salerno15.1%
73Isernia14.2%
Source: Eurostat · saved copy

Share of output from finance, property and business services (2023)

Milano ranks 1 of 107, highest first.

RankAreaShare of output from finance, property and business services
1Milano38.6%
2Roma32.5%
3Imperia32.0%
4Trieste31.8%
5Como31.2%
6Biella31.0%
7Siena30.8%
Source: Eurostat · saved copy

Share of output from public administration, education, health and other services (2023)

Milano ranks 107 of 107, highest first.

RankAreaShare of output from public administration, education, health and other services
101Brescia12.7%
102Lecco12.4%
103Vicenza12.2%
104Modena12.1%
105Bergamo11.9%
106Reggio nell’Emilia11.9%
107Milano11.6%
Source: Eurostat · saved copy

More on Milano: overview · health · education and schools · poverty and living standards · government budget · government and politics · Lombardy · Italy

Sources

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