Federmacchine: after a year 2020 to forget, in 2021 there will be recovery

After closing a year 2020 that is really to forget due to double-digit decreases for all main economic indicators, the Italian capital goods manufacturing industry is ready for recovery, which is expected already from 2021. This is essentially what emerged from the survey conducted in January by the Statistics Group of Federmacchine, the Italian Federation of Associations of Manufacturers of Capital Goods.

In 2020, the turnover of the Italian industry of the sector went down to 39,674 million euro, i.e. 17.9% less than in 2019. The overall outcome was due to the export reduction, decreased by 15.9% to 27,177 million euro, as well as to the downturn in the deliveries of Italian manufacturers on the domestic market, dropped by 21.8% to 12,497 million euro. 

The year 2021 will have a different trend. According to the forecasts processed by the Statistics Group of FEDERMACCHINE, this year, the turnover should start to grow again, however only partially recovering the lost ground. Indeed, with an expected increase of 8.9% compared with the previous year, it should reach 43,200 million euro.

The partial recovery will be determined both by exports, expected to grow by 8% to 29,349 million euro, and by the deliveries of Italian manufacturers, which, thanks to a 10.8% upturn, should attain 13,850 million euro. 

The Italian consumption of capital goods, also supported by the tax incentives included in the Transition Plan 4.0, should increase to 22,279 million euro, i.e. 12.4% more than in 2020, driving not only the deliveries of manufacturers, but also imports, which should mark a 15% recovery, achieving a value of 8,429 million euro. 

Giuseppe Lesce, president of FEDERMACCHINE, commented: “The year 2020 has been to forget also for the sector of capital goods. Nevertheless, considering the trend of the first months, things could have been much worse. This does not mean that we are satisfied, but – continued the president of FEDERMACCHINE – I note that the Italian companies of the sector proved to be able to keep up and the market to be able to react”. 

“Based on this premise and the indications on the general context that reasonably allow us to be confident of an improvement in the situation worldwide, we can envisage that the year 2021 will enable us to recover some lost ground”.

“Indeed, mobility restrictions still remain a big problem for our sector that has always been a strong exporter. The tax incentives established in the Transition Plan 4.0 for the whole years 2021 and 2022 will certainly support investments in new machinery in Italy”.