10.04.2023, 17:58
Sales and production of furniture decreased in Russia
Source: OREANDA-NEWS
OREANDA-NEWS From January to February 2023, furniture production and sales in Russia have undergone a record decline over the past few years. This is reported by Kommersant.
Since the beginning of the year, furniture production in Russia in physical terms has decreased to 7.9 million units (minus 10 percent), according to data from the Association of Furniture and Woodworking Industry Enterprises of Russia (AMDPR). Over the same period in 2022, output grew against the background of the introduction of a large volume of housing, it increased to 15-40 percent, depending on the type of furniture.
The market is declining due to the falling activity of buyers who are waiting for the normalization of the situation in the economy. It is also affected by the suspension of IKEA enterprises, which produced more than 20 percent of all furniture in Russia, explained AMDPR CEO Timur Irtuganov. It was also affected by sanctions that prevent Russian manufacturers from exporting their goods. Because of this, since the beginning of 2023, the volume of furniture exports abroad has fallen by 74 percent in annual terms, to 1.9 billion rubles. Imports of products decreased by 56 percent, to 13.4 billion rubles.
Since the beginning of the year, furniture production in Russia in physical terms has decreased to 7.9 million units (minus 10 percent), according to data from the Association of Furniture and Woodworking Industry Enterprises of Russia (AMDPR). Over the same period in 2022, output grew against the background of the introduction of a large volume of housing, it increased to 15-40 percent, depending on the type of furniture.
The market is declining due to the falling activity of buyers who are waiting for the normalization of the situation in the economy. It is also affected by the suspension of IKEA enterprises, which produced more than 20 percent of all furniture in Russia, explained AMDPR CEO Timur Irtuganov. It was also affected by sanctions that prevent Russian manufacturers from exporting their goods. Because of this, since the beginning of 2023, the volume of furniture exports abroad has fallen by 74 percent in annual terms, to 1.9 billion rubles. Imports of products decreased by 56 percent, to 13.4 billion rubles.
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