German furniture industry exported more to China

Source:
VDM/Fordaq
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AlternativtextThe German furniture industry felt the impact of consumers' reluctance to buy in the first half of 2024. Sales fell by 9.7% to €8.3 billion - more sharply in exports (-10.9% to €2.7 billion) than in the domestic market (-9.1% to €5.6 billion).

All segments of the industry suffered losses. In the kitchen furniture industry, sales amounted to around €2.9 billion, a decrease of 9.8%. Manufacturers of upholstered furniture registered a sales decline of 11.2% to around €500 million. The biggest drop was recorded in the other furniture sector (including living room, dining room and bedroom furniture as well as furniture parts), with sales falling by 15% to €2.5 billion. The office furniture industry achieved sales of around €1.1 billion (-1.8%) and manufacturers of shop and other contract furniture were 3.7% below the previous year with sales of around €980 million.

Most European markets saw sales declines in the first half of the year. Exports to France, the most important export market, fell by 8.7% to just under €660 million. Deliveries to Switzerland (-8.3%), Austria (-13%), the Netherlands (-11.3%), the United Kingdom (-4.2%) and Belgium (-8.9%) also performed weaker. Furniture deliveries to the United States were roughly at the same level as the previous year at just under €130 million. Exports to China grew by 6.4% to around €76 million.

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