The President of FederlegnoArredo, Claudio Feltrin, revealed that the wood-furniture sector experienced a challenging third quarter in 2023, marking a -7.8% decline from January to September compared to the same period in 2022. Both exports (constituting 41% of the sector) and the domestic market witnessed downturns of -7.5% and -8.1%, respectively. Within the sector's macro-systems, furniture sales contracted by -3.3%, with a marginal +0.3% increase in Italy but a substantial export decrease of 6.4%. Meanwhile, the wood system faced a notable 14.5% drop, particularly evident domestically (-15.6%) but relatively moderate in exports (-11.4%). FederlegnoArredo's Monitor forecasts an overall -7% for the wood-furniture sector in 2023, anticipating -7.2% for exports and -6.8% for the domestic market. The furniture system is expected to decline by -3.7%, with a slight decrease in the domestic market (-0.9%) and a 6% reduction in foreign markets. The wood system might close the year at -11.5%, including -11.6% in Italy and -11.1% in exports.
Factors contributing to this challenging period include changing post-COVID spending habits, conflicts at Europe's borders, and reduced construction incentives. A return to 2019 levels seems plausible due to these influences. Looking ahead, Feltrin anticipates a phase of adjustment and normalization in an unstable international context, projecting a potential positive upturn in 2024. He envisions a +2% growth for the sector, -0.7% for Italy, and a significant 6.8% increase in exports. This recovery could alleviate the market difficulties experienced in 2023, particularly in traditional markets like Germany and the United States. The April 2024 Salone del Mobile is expected to provide companies with a platform to evaluate their adaptability, engage with global buyers, and lay groundwork for 2025 investments. Meanwhile, the wood macro-system exhibits a negative trend (-2.8%), driven by a more significant decline in the domestic market (-5.6%) compared to positive export growth (+4.7%).
Source: https://www.italpress.com/per-la-filiera-legno-arredo-dal-2024-segno-piu-grazie-allexport/
