Great year for furniture

Furniture makers saw exports (which account for 75% of production) go up 20% last year, mainly because of the euro increase. Consequently, 2002 has been the best year for furniture since 1989. Analysts expect 2003 to consolidate this ascending trend, but the growth is estimated at only 6-7 percent for this year. Exports are expected to maintain their share in the output volume. “The main factor that fuelled the export boom was the euro increase, both against the dollar and the ROL. Exports gained 20% in value, but output did not really grow this much,” says Aurel Rizea, executive chairman of the Romanian Association of Furniture Makers. ZF