The data processed by the Study Center FederLegnoArredo on Istat data indicate how 2023 marked a turning point for the wood-furniture supply chain Italian. If, on the one hand, the turnover the overall supply chain reached 52,6 billion euros, on the other hand, a contraction of -8,1% was recorded compared to 2022, due to the decline in the domestic market (-10,1%). The exports, although down by -4,5%, still reached 20 billion, representing 38% of the total. The Italian market of the wood-furniture supply chain, which constitutes 62% of the complex, was mainly affected by the reduction in demand in the residential sector.
Downturn for the furniture sector
The two-year period 2020-2022 saw growing interest in the home sector, with higher performances than 2019 (with a 10 billion difference). However, it should be considered that these data are influenced by inflation: although production is lower than in 2019, 2022 turnover remains higher due toprice increase (+6,5% for furniture), with a consequent reduction in company margins.
The turnover of the furniture sector in 2023 it suffered a slight decline compared to the previous year, reaching 28 billion (-3,4%). This decline affected both the domestic market (-3,2%) and exports (-3,6%, around 15 billion), whose share of total turnover remained stable at 53%.
The wood sector is in sharp decline
At the same time, the wood sector recorded an even more marked drop in turnover (-11,6%), reaching the figure of 21,4 billion. Wood exports fell by -7,3%, while the domestic market contracted by -12,8%.
So, in a supply chain particularly devoted to exports, wars, unstable geopolitical balances and the recent Suez Canal crisis are having a notable impact. There Red Sea route, crucial for trade, records an export value of around 2,5 billion and imports of 1,9 billion. The consequences of this crisis have manifested themselves in tripled container costs, increased energy prices and wood prices.
Export: France main destination
La France confirms itself as the main destination for exports, with a turnover of 2,7 billion and growth of +0,6%. Followed by Germany to 1,8 billion (-6,4%). The United States, after two years of above-average growth, reported a decline of -13,2%.
