According to a forecast published in February 2020, it was estimated that Italy's GDP will decrease due to the impact of coronavirus (COVID-19). According to the estimate, the sectors of textile, train and air transport, hotels, restaurants, shows, and sporting events are expected to record the highest drop. On the other hand, some industries could benefit from the spread of coronavirus in terms of GDP growth. For instance, the gross domestic product could increase up to six percent in the following sectors: food, health, chemicals for house care and personal care, food large-scale distribution, publishing activities, communication, and IT services.
For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.
Forecasted short-term impact of coronavirus (COVID-19) on gross domestic product (GDP) in Italy in the 1st and 2nd quarter of 2020, by industry
Characteristic
Worst case scenario
Best case scenario
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The source links the best case scenario to the possibility of finding quickly a solution to the virus outbreak. For instance, the probability of a drop in the number of cases in the springtime or the developing of a vaccine.
On the other hand, the worst case scenario refers to the probability of an increase in the number of cases in more countries which could lead to a larger manufacturing stop and a shortage of inventories of semi-finished goods.
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REF Ricerche. (February 9, 2020). Forecasted short-term impact of coronavirus (COVID-19) on gross domestic product (GDP) in Italy in the 1st and 2nd quarter of 2020, by industry [Graph]. In Statista. Retrieved July 16, 2024, from https://www.statista.com/statistics/1101041/forecasted-impact-of-coronavirus-covid-19-on-gdp-by-industry-in-italy/
REF Ricerche. "Forecasted short-term impact of coronavirus (COVID-19) on gross domestic product (GDP) in Italy in the 1st and 2nd quarter of 2020, by industry." Chart. February 9, 2020. Statista. Accessed July 16, 2024. https://www.statista.com/statistics/1101041/forecasted-impact-of-coronavirus-covid-19-on-gdp-by-industry-in-italy/
REF Ricerche. (2020). Forecasted short-term impact of coronavirus (COVID-19) on gross domestic product (GDP) in Italy in the 1st and 2nd quarter of 2020, by industry. Statista. Statista Inc.. Accessed: July 16, 2024. https://www.statista.com/statistics/1101041/forecasted-impact-of-coronavirus-covid-19-on-gdp-by-industry-in-italy/
REF Ricerche. "Forecasted Short-term Impact of Coronavirus (Covid-19) on Gross Domestic Product (Gdp) in Italy in The 1st and 2nd Quarter of 2020, by Industry." Statista, Statista Inc., 9 Feb 2020, https://www.statista.com/statistics/1101041/forecasted-impact-of-coronavirus-covid-19-on-gdp-by-industry-in-italy/
REF Ricerche, Forecasted short-term impact of coronavirus (COVID-19) on gross domestic product (GDP) in Italy in the 1st and 2nd quarter of 2020, by industry Statista, https://www.statista.com/statistics/1101041/forecasted-impact-of-coronavirus-covid-19-on-gdp-by-industry-in-italy/ (last visited July 16, 2024)
Forecasted short-term impact of coronavirus (COVID-19) on gross domestic product (GDP) in Italy in the 1st and 2nd quarter of 2020, by industry [Graph], REF Ricerche, February 9, 2020. [Online]. Available: https://www.statista.com/statistics/1101041/forecasted-impact-of-coronavirus-covid-19-on-gdp-by-industry-in-italy/
