Market Reports  

EU Wood Furniture Trade Analysis

by Fordaq

Seasonal fluctuations are a major feature of the EU furniture trade said in the analysis report by Fordaq. EU wood furniture exports are almost exclusively interior products, mainly destined for other western countries, which tend to rise sharply at the end of the year in the run-up to the Christmas holiday season.

Against this background, the following analysis of EU furniture trade uses “12 month rolling average” data. This is calculated for every month by averaging the monthly imports or exports for the previous twelve months.

The data irons out seasonal variations so that potentially significant long-term changes can be more easily identified.

Fall in EU wood furniture trade surplus
The chart illustrates the trend in EU trade balance of wood furniture using 12 month rolling average data between January 2010 and March 2015. It shows a steady rise in EU wood furniture exports over the last four years, although the rate of growth has flattened somewhat in recent months.

In contrast, EU imports of wood furniture tend to be higher in the opening months of the year. This is partly because they contain a high proportion of exterior products mainly imported from Asian countries in the spring months. In addition, a relatively large proportion of the Asian furniture imported into the EU is bought during the January sales season.

On the other hand, EU wood furniture imports, which had declined since 2011 – except for a brief interruption in 2012 – have rebounded in late 2014 and throughout the first quarter of 2015.

This is partly due to an increase in wood furniture deliveries from China, which had plummeted in 2013 and recovered again in recent months. Vietnam has also delivered more wood furniture to Europe again in the first months of 2015.

The shift in trade balance is partly due to improved consumption in individual EU markets, especially in Germany and the UK, where the construction sector has been comparatively strong in 2014 and early 2015.