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Portugese export market showed record growth in 2023

Portuguese wooden furniture is gaining increasing global appreciation, translating into comfort for around 80,000 individuals associated with the activities represented by the Association of Wood and Furniture Industries of Portugal (AIMMP). The export market, continuously growing since 2010, is expected to surpass the 2022 record in 2023, reaching an anticipated total of 3,170 million euros. From January to October 2023, foreign sales increased by 4.8%, equivalent to a growth of 120 million euros compared to 2022, totalling 2,650 million euros. With positive expectations for the last quarter, AIMMP's president, Vítor Poças, believes that the overall year could culminate in an export value exceeding the 2022 record of 3,039 million euros.

AIMMP's president, Vítor Poças. Photo AIMMP.

The positive trend extends to imports of similar goods, which decreased by 4.1% to 2,215 million euros until October. Spain was the primary buyer, comprising 32% of the export share, followed by France (26%), the United Kingdom (6%), and Germany (5%). Beyond Europe, the United States held the top position with a 4% share. The robust results encompass various subsectors under AIMMP, including cutting, slaughtering, and sawing; wooden panels and derivatives; biomass energy; carpentry; and the import/export of wood products. This sector, with 16 thousand companies, 80 thousand employees, and an estimated contribution of 8 billion euros to the GDP, demonstrates impressive growth in Portugal's wooden furniture industry.

Read the full article here.

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