8 November 2023
The organisation that represents the furniture industry in Belgium, Fedustria, has reported revenues of just over €1.1 billion in the first six months of 2023, a fall of 5.6% year on year, writes Leatherbiz.
It said export revenues had fallen by 12.2% compared to the same period in 2022, with shipments to France, the Netherlands and Germany falling steeply, although these three countries remained the most important export markets for Belgian furniture manufacturers.
The organisation said that since the second half of 2022, the Belgian furniture industry has faced a decline in demand in the domestic and export markets. It added: “A sharp rise in inflation, higher energy and raw material costs, and an uncertain future owing to geopolitical developments have worried consumers and led to a decline in consumer confidence. The perfect storm we talked about last year has turned into a full-blown hurricane in 2023.”
According to Fedustria’s figures, there are 722 companies in the Belgian furniture industry today, employing a collective total of 9,763 people.