|  

Kitchen furniture exports compensate domestic decline

30.05.2019 − 

In March domestic turnover of the German kitchen furniture industry, at €255.6m (-0.9%), fell short of the preceding year’s figure for the second consecutive time. According to the statistics compiled by VdDK on the basis of data supplied by the Federal Statistical Office however, the decline was only half as high as in February, when a decrease of 1.6% had been recorded. In March 2018, sector turnover declined at a more significant rate of 7.0%. This decrease, however, had been preceded by an 8.0% rise in February 2018.

In the current reporting period export business, with a 5.6% increase in turnover to €172.1m, continued to develop along positive lines. €132.8m of export turnover was generated in Euro zone countries, representing an increase of 6.8%. The export rate rose by 1.5 percentage points to 40.2% and thus improved in each of the first three months. Despite the weaker development of domestic business, the kitchen furniture industry was able to improve total turnover to €427.7m, which is 1.6% above the level recorded in 2018.

Accumulated over the first quarter sector turnover improved by 1.6% to €1.217bn. Increases in January (+3.5%) and March contrasted with a marginal decline of 0.2% in February. Whilst domestic turnover, at €728.5m, remained stable at the level recorded in the preceding year, export turnover improved by 4.0% to €488.5m. In the accumulated period the increase recorded in the Euro zone, at +6.4% to €381.7m, was higher than in export business overall. Over the first quarter the export rate amounted to 40.2%.

Tags of this news:

previous − Kitchen exports increased by 3.2% in the first quarter

Freda invests €42m in new factory in Kaunas  − next