The Portuguese furniture market recorded the best year ever for exports, having surpassed 2 billion euros in sales abroad between January and December 2023. This sector, which has around 90% of the volume of business, exceeded the values recorded in the same period by 10% and the figures for 2021 by 24%.
The year 2023 also means transversal growth in the main markets of the furniture cluster. France, which is responsible for more than 32% of exports, imported almost 8% more compared to the same period in 2022 and maintains its top position as the main destination for national products. Spain is also in the top three places in the table, with a share of more than 26%, and Germany, the third most relevant market for national production, registering a year-on-year variation of more than 26%. This is followed by the United States of America (5.6% share) with a slight drop due to the national and international situation, and the United Kingdom (+11%) closing the top five positions in the ranking.
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It should be noted that although furniture surpassed the threshold of two billion euros in exports for the first time last year, the year-on-year evolution was not constant, showing a drop from the month of August onwards. Joaquim Carneiro, president of the Portuguese Association of Furniture and Related Industries (APIMA) highlights: 'Despite having recorded the best result ever, we cannot fail to show some concern about the market fluctuations caused by the national and international scenario we face.'
'The country's economic and political instability, but also the war in Europe that has lasted for more than two years, are having a strong impact on the European economy. More recently, the conflict in the Middle East had implications for the maritime circulation of goods caused by attacks in the Red Sea, and we saw political instability in markets that are very relevant to the sector. We have to look at all these constraints responsibly, but also as an opportunity to continue investing in the added value, innovation and sustainability of Portuguese companies, managing to differentiate ourselves from the other players in the cluster,' adds Carneiro.
In 2023, there was a consolidation of the surplus trade balance in these sectors, with a balance that exceeded one billion euros, exceeding the previous year by 27%.
Source: APIMA