The Bank of Italy has published its annual report on Liguria’s economy, showing that regional activity grew modestly in 2025, with gross product estimated to have increased by 0.8 percent, slightly above the Italian average. The report depicts an economy supported by stronger employment, resilient corporate conditions and a recovery in private sector lending, while expectations for the coming months remain cautious because of geopolitical, trade and demand uncertainty. Sector trends were mixed. Industrial employment rose slightly and investment increased, while turnover and hours worked were broadly unchanged. Construction continued to slow, although major infrastructure projects and European funding still supported activity. Housing transactions rose 8.2 percent and house prices increased 2.3 percent. Tourism presences edged down 1.0 percent, but port passenger traffic increased, driven by cruises, and container traffic rose 3.9 percent in TEU terms as transshipment flows increased. Exports grew 10.2 percent, led by shipbuilding, while more than 85 percent of Ligurian firms remained profitable. The labor market improved, with employment up 2.7 percent, unemployment down to 4.7 percent and labor force participation rising to 72.2 percent. Higher employment supported household income and real consumption growth. In finance, bank lending to the nonfinancial private sector returned to growth, up 1.0 percent at end-2025, as the fall in business lending largely stopped and household borrowing strengthened on the back of recovering mortgages. New deteriorated loan flows increased, but the stock ratio of deteriorated loans stayed broadly stable. On public finance, spending by regional and local bodies increased, especially capital spending, with Liguria’s PNRR allocations above the national average relative to population and implementation of 2021-27 cohesion projects more advanced than the national average.
Bank of Italy2026-06-16
Bank of Italy reports Liguria economy grew 0.8 percent in 2025 as credit recovered and public investment stayed strong
The Bank of Italy’s annual report says Liguria’s economy grew by 0.8 percent in 2025, slightly above the national average. Employment, household income and private sector lending improved, while firms generally remained profitable despite weaker tourism and continued uncertainty. Public investment stayed supported by European and PNRR funding, with regional allocations above the Italian average on a per capita basis.