EU wooden furniture exports impacted by the Ukrainian crisis

Source:
ITTO
Views:
3476
  • text size

The chart shows the trend between January 2010 and March 2015 in EU exports of wood furniture to non-EU countries by destination region using 12 month rolling average data.

This reveals that the slow-down noted in growth of EU exports to Russia and Eastern Europe from the second half of 2013 has since turned into decline.

This reflects political tensions between the EU and Russia in connection with the crisis in the Ukraine as well as economic difficulties in Russia, which have been aggravated by the political crisis.

According to an article in the German magazine Spiegel, the World Bank expects Russian GDP to shrink by 2.7% this year. This in turn is expected to have a significant impact on Russian imports of consumer products from the EU and Switzerland during the rest of 2015.

EU wood furniture exports to European countries outside the EU were stable over the last twelve months. The same is true for deliveries to Latin America, the Pacific region and Africa. On the other hand, exports to North America continued to rise sharply and deliveries to China and other Asian countries are also increasing.

Post comment