Furniture exports increase 6% amid economic slowdown

Romanian furniture exports amounted to $377.9 million in the first six months of the year, up 30% from the year-ago period. However, the increase is only 5.8% in euros.

On the other hand, imports outpaced exports, adding 32.2% in dollars and 8% in euros, thus totalling $58.7 million, up from $44.4 million in the first half last year. The data were released by the National Statistics Institute, based on information supplied by the General Customs Division . Furniture products accounted for 4.7% of the total exports and only 0.5% of the total imports in the first six months of the year.

Yet, the imports’ fast-paced growth is not very alarming, as exports are worth six times more than imports, claims Andrei Menhardt, chairman of the Romanian Furniture Producers Association (APMR). “For instance, the import of surgical furniture, which is not produced in Romania, posted the most significant increase – 12%, while imports of other furniture categories actually went down,” Menhardt said.

However, the slowdown in exports is alarming, considering that the Romanian producers depend on the foreign markets, which absorb some 80% of the domestic output. Moreover, many producers have been blaming the Western European market decline for the cancellation of many orders this year. Pessimistic analysts had even forecast a drop in exports, which would have prompted a decrease in output.

The Western European slowdown did impact on the furniture industry in Romania, considering that physical output went up 17% in ROL (3% – 4% in euros) at the end of the first five months, below the exports’ growth.