07.10.2024
The Polish furniture industry in mid-2024
According to the Central Statistical Office (GUS), the value of furniture production sold in the first half of 2024 amounted to PLN 28.4 billion, which means a decrease of 5% compared to the same period in 2023 (PLN 29.9 billion).
The most noticeable regression was recorded in the first quarter of this year – the dynamics of the decline amounted to 7 per cent. In the second quarter, the situation improved slightly, and the pace of decline decreased to 4 per cent.
Not all segments of the furniture industry recorded declines
Despite the overall downward trend, some market segments performed quite well. Increases were recorded in two groups of furniture:
- wooden kitchen furniture, the production of which increased by 18% y/y,
- wooden bedroom furniture, which recorded an increase of 6% y/y.
Although these categories were numerically smaller, their positive results somewhat offset the overall results during a difficult period for the industry.
Italy is back in the game
While Poland is facing challenges, Italy has managed to overtake us in global furniture sales. In the second quarter of 2024, the value of Italian furniture exports amounted to EUR 2.9 billion, surpassing Poland’s, which amounted to EUR 2.8 billion.
Poland continues to maintain a strong position in the European Union and dominates the market within the EURO zone, but in non-EU markets such as Asia and North America, Italian brands and design are gaining an advantage over us.
Germany – a key market for Poland
The situation in Germany, which is Polish’s largest trading partner in the furniture sector, also has a great impact on the results of our exports. Over 30 per cent of Polish furniture goes to Germany, and the current economic slowdown in this country has contributed to declines in Polish production . This is an additional factor that allowed the Italians to take the lead again.
Future prospects
It is not yet clear whether Italy’s advantage over Poland in global furniture exports will last for longer. A slowdown in the pace of declines in Polish furniture production in the second quarter of 2024 may be a positive signal for the second half of the year. Competition on global markets in this industry is getting stronger, and the macroeconomic situation, both in Germany and other European countries, will be very important for the further development of the furniture industry in our country.
Poland still has strong foundations:
– relatively low labour costs,
– qualified staff,
– access to modern technologies.
All these advantages are of great importance in maintaining competitiveness on the global furniture market.
We encourage foreign entrepreneurs from the industry to participate in the largest contracting fair in Central and Eastern Europe – Meble Polska 2025. It will be a good opportunity to expand the network of international contacts and business cooperation.
Source:
- BIZNES.meble., raport p.t. „Dynamika wzrostów hamuje”, 2024r.
- Główny Urząd Statystyczny (GUS)
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