According to the latest data released by Vdm, the German furniture industry increased sales by nearly 7 percent to nearly 19 billion euros in 2022.
“German furniture manufacturers continue to find themselves in a difficult market environment, although the situation is no longer assessed as pessimistically as it was in the fall,” reported Elmar Duffner, president of the Association of the German Furniture Industry (VDM).
Among the main factors leading to this increase is the rise in finished prices due to higher material and energy costs. Domestic sales increased by 5.4 percent. Outside Germany, furniture manufacturers experienced strong sales growth of 9.8 percent. The share of exports rose to 33.2 percent. For the current year, the industry expects to maintain sales at the previous year’s level.
For the current year, Jan Kurth, managing director of the German Furniture Industry Association (VDM/VHK), forecast sales for the industry at the previous year’s level. “In the first half of the year, the market development is expected to be contained,” he said. “In the second half of the year, a gradual economic recovery is expected as consumer uncertainty subsides and energy markets ease. We are confident that furniture will continue to be a top priority,” Kurth concluded.
