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Analysis: EU demand for wooden furniture is rising slowly

Analysis: EU demand for wooden furniture is rising slowly

The EU's demand for wooden furniture is slowly rising, but the signs for external suppliers in the region, especially in the tropics, are not very positive.

Although the official Eurostat annual production data has not yet been released, a review of the Eurostat index and trade data shows that the EU's wooden furniture consumption in 2016 was approximately €36.1 billion, an increase of 1% over 2015.

In 2016, the largest markets such as Germany, the United Kingdom, Italy and France were relatively stable compared to the previous year, but consumption in Spain, Poland, Sweden and the Netherlands declined slightly.

The value of EU wooden furniture production in 2016 is estimated to be 39.6 billion euros, 1% higher than the previous year, but still 20% lower than the level before the 2008 financial crisis. Italy's production declined slightly in Germany, and the two largest manufacturing countries offset growth in Poland, the UK, Spain, Romania and Lithuania.

Analysis of Eurostat's trade data shows that the trade volume of wooden furniture within the EU was 16.2 billion euros in 2016, an increase of 4% over the previous year and continued the upward trend of the previous two years.

This trend is due to the slow rise in EU consumption and the increased dependence of the EU internal market on manufacturers with lower costs in Eastern Europe, especially in Poland, Romania and Lithuania.

Analysis: EU demand for wooden furniture is rising slowly

Since 2011, the EU has maintained a trade surplus in terms of wooden furniture, and exports to non-EU countries have exceeded imports outside the EU. However, this surplus has been shrinking, from 2.59 billion euros in 2013 to 1.6 billion euros in 2016. In 2016, EU exports to non-EU countries fell by 4% to 7.31 billion euros, while imports from non-EU countries fell by 1% to 5.71 billion euros. In short, these trends indicate that competition in the EU wooden furniture market has intensified. Manufacturers in the European Union, especially in Eastern European countries, are producing more products as their domestic consumption growth is slow and exports to the rest of the world are weakening.

Last year, European wooden furniture exports fell to the Middle East and Russia, and smoothly entered North America, Switzerland, Norway and Japan. Small increases in China and other emerging markets are not enough to offset the decline in other regions.

After significant progress in the EU market in 2015, EU wooden furniture imported from China and tropical countries fell back last year. In 2016, China’s imports fell by 5% to 3.01 billion euros, down 3% to 1.63 billion euros.Our products exported to the EU have also been converted from original indoor furniture to pine beds, bunk beds, loft beds, oak beds, etc., mainly wood beds.

However, the value of EU imports from non-EU temperate countries rose by 14% to 1.07 billion euros, while Turkey, Bosnia, Serbia, Ukraine and Belarus increased significantly.

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