Exports of the wood-furniture supply chain in the first nine months of 2022 amounted to approximately 15,6 billion euros and grew overall in all Italian regions by 16%, compared to the same period of 2021. The figure, apparently positive , highlights a slowdown outstanding on a quarterly basis: +21% in the first quarter, +16% in the second, +11% in July-September. This is what emerges from the data processed by the Centro Studi di FederlegnoArredo.
The data can only alarm a sector mainly devoted to exports, in which Lombardy, Veneto and Friuli-Venezia Giulia they cover almost 70% of the exported value. In terms of sectors, furniture is still the most significant in the supply chain in terms of exported value (over 9 billion) with growth of +16% in the period January-September 2022.
Wood and furniture: inflation worries businesses
La Lombardia (3,7 billion), with +18,8% of supply chain exports, confirms itself basically stable. The Veneto (3 billion) shows a more marked slowdown, going from +15,5% in January-June to +12,3% in July-September. The Friuli Venezia Giulia (1,9 billion) is the region that recorded the highest percentage change in the first nine months of 2022 (+21,7%), but at the same time it is the one that recorded the sharpest slowdown in the third quarter: +15 %%, compared to +26% of the former.
Businesses are above all concerned about the effects of high inflation throughout Europe which could discourage the consumption of durable goods such as furniture.
If Lombardy somehow manages to remain stable, greater signs of slowdown are recorded in Veneto and above all in Friuli Venezia Giulia. The Lombard estate could be mainly due to the fact that this region exports a lot to the USA and above all in the high-end furniture sector. The weight of expensive energy is felt much more in Europe and this is demonstrated by the data from the Veneto region, which still has its major outlet markets in the Old Continent, starting with Germany and France.
Here then is the continuation of the war in Ukraine it could favor regions that have their core business overseas or in emerging markets aimed at a high-end audience, more free from the cost of living.
