FederlegnoArredo, the Italian federation for woodworking and furniture industries, has reported a significant downturn in the country's wood furniture sector in 2024. According to their figures, domestic sales saw a 5.4% decline, while exports dropped by 4.1%. Overall, this resulted in a 4.9% decrease in total sales, following an already challenging 2023, which saw a similar decline of 8.1%. In 2023, domestic sales fell by 10.1%, and exports saw a smaller dip of 4.5%. Despite these losses, the 2023 figures were still considered stronger compared to the pre-pandemic year of 2019.
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Claudio Feltrin, president of FederlegnoArredo, commented, 'It is clear that the expectations and forecasts that our entrepreneurs had indicated at the beginning of the year are decreasing, and this leads us to think with reasonable certainty that for the supply chain, the year will close with a minus sign.' He went on to explain that while the Italian market is slowing down significantly, largely due to the removal of tax incentives, exports are performing slightly better despite the tough global situation. He attributed this to the ongoing political and economic challenges, which include multiple ongoing wars.
However, there is some optimism for the future. In a report published in December, Feltrin expressed a cautious hope for 2025, suggesting that businesses may experience a slight recovery towards the end of the year. 'Businesses are confident in a small boost in the final part of the year which could herald a slow recovery in 2025,' he said. This optimism stems from the hope that the global economic situation will improve and that the sector will find a way to adapt to the new challenges.
The decline in Italy's wood furniture industry mirrors similar struggles in other manufacturing sectors, as companies grapple with shifting market conditions and a challenging global environment. Despite the setbacks, the Italian furniture industry's continued export resilience indicates that some markets are still supportive of Italian craftsmanship and design, although the future remains uncertain.
Source: www.furnituretoday.com