Italian furniture exports to China fell 17.6% in the first quarter
Recently, the research center of the Italian wood and furniture association Federlegno Arredo compiled data from the Italian National Institute of Statistics (ISTAT) reported that the total value of furniture and wood products exports reached 4.98 billion euros in the first three months of 2023, which was basically the same as in the first three months of 2022.
The Italian region of Lombardia once again consolidated its leading position with exports of 1.2 billion euros (29% of total exports), representing an increase of 3.9% compared to the first quarter of 2022. It was followed by the Veneto Region with exports of 991 million euros (up 1.3%).
Exports from the Friuli Venezia-Giulia region amounted to EUR 581 million, down 3.8 percent year-on-year. Marche came in fifth place with exports of €242 million, an increase of 11.1%, while Puglia ranked eighth with exports of €105 million, the biggest drop of 20.8%.
Furniture exports totalled €3 billion, representing an increase of 0.3% compared to the first quarter of 2022. Among the top 10 export destinations, France ranked first, with an increase of 5.4%, while second-placed exports from the United States fell by 9.5%, Germany ranked third, with exports up 4.6%, and China ranked seventh, with a plunge of 17.6%.
"Supply chain figures provide some relief due to stable results in the quarter in Lombardy and Veneto, but furniture exports send less optimistic signals. This is also reflected in the May 2023 production data, with timber exports down 17.4% and furniture exports down 8.5%. Federlegno Arredo Chairman Claudio Feltrin explained.
"We can say that the furniture industry has skyrocketed and fallen in the past two years, and it is too understated to use the word 'abnormal'. But we also cannot ignore the changes in demand in the main export markets of Italian furniture. The United States, while still in second place, recorded a 9.5% decline, Germany slipped to third place, while China remained in seventh place with a 17.6% decline. ”
