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Basic Information |
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THE GERMAN FURNITURE INDUSTRY IN A GLOBAL CONTEXT
The international trade in furniture is steadily increasing because of ongoing globalisation and as a result of more and more national markets opening up. Experts forecast that cross-border trade figures will rise from US$82 billion in 2005 to US$92 billion in 2007. Trading networks are expanding worldwide, and the volume of furniture produced for export continue to rise. The furniture market has become international.
DYNAMIC MARKETS
Today, Europe is the most important furniture market in the world. The production value of the European furniture industry amounted to €93.8 billion in 2005, up by 0.8 per cent from the year before. The production increase was highest in the eastern European countries, Austria and the Netherlands. In the future, dynamic developments in the emerging markets will give an additional momentum to the furniture trade leading to even more rapid growth. According to forecasts, furniture consumption in 2007 will increase most significantly in Russia (+8%), China (7%) and in India, Malaysia, Vietnam and the Ukraine (+6% each).
THE EUROPEAN FURNITURE INDUSTRY
The European furniture manufacturers boosted their exports up to €38 billion in 2005. Of these exports, non-EU countries accounted for €9.3 billion, or almost a quarter. The USA remained the most important sales market, importing European furniture with a total value of €2.1 billion. Meanwhile, Germany’s trade business took another direction. German furniture exports to the USA dropped by 7.9 per cent in 2005 while its exports to Russia climbed by 19.1 per cent at the same time.
THE GERMAN FURNITURE INDUSTRY
Germany is the most important furniture market in Europe. On average, Germans spend about €500 per year on decorating their homes, with €360 of this for new furniture. This puts Germany at the top of the worldwide list when it comes to purchases of furniture per capita. Thus, the development of the German furniture industry gives cause for optimism. Sector turnover totalled €17.2 billion in 2005, up by 1.9 per cent compared to the previous year. Currently the 1,125 companies of the German furniture industry employ 105,000 people.
more basic information
Development of the German Furniture Industry
Prices of Wood Products Explode
Interior Design Trends
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