Italy accounts for the third largest printing industry in Europe. There is no doubt that the COVID-19 pandemic did impact the printing industry (like other industry sectors) heavily. Still, it is difficult to quantify the impact as the most recent revenue data Eurostat publishes dates from 2018. As a more timely series, Eurostat publishes a production index for printing and recorded media, which gives an indication of how production volumes developed based on 2015 averages. The most recent data point for Italy dates from December 2020.

During the height of the COVID-19 pandemic in April 2020, the production volume index dropped to 56% of the 2015 production average. As volumes were already down compared to 2015 before the pandemic, the drop amounts to 33% below the pre-coronavirus average. In contrast, the EU output dropped by 31% compared to the pre-pandemic average. Considering that Italy had a very strict lockdown in spring 2020, the decline was lower than expected.

The steep drop led to a strong recovery in May and some gradual improvements until August. With the second wave of lockdowns kicking in, output dropped noticeably again to reach a new low in November (based on seasonally adjusted data). December finally did see an uptick. In the latest reported months, the production index remained 12% to 15% below the pre-COVID values—which is lower than most other European recovery numbers. Further recovery will depend on industry and service sectors currently shut down or impeded kicking in again.

Taking into account the decline and recovery, industry production should be down by about 14% compared to 2019. Assuming a slight increase in prices, the revenue decline for 2020 over 2019 could be in the 10–12% range.

Source: Eurostat

The index data gives a timely reference on how well industry sectors are doing. Less timely is the reporting of revenues. However, it does show the total industry size.

Printing industry production values in Italy saw some decline from 2010 to 2013 during the euro crisis. Revenues remained stable mostly since, with a slight uptick in the years leading to 2018. The production value in 2018 reached €10.4 billion.

Source: Eurostat, digitalprintexpert.de

This series on the impact of COVID-19 on printing industry production volumes in Europe will continue. Next up: the printing industry in France.