VDM expects 1% turnover increase in 2020

16.01.2020 − 

The Association of the German furniture industry (VDM) expects 2020 sector turnover to improve by around 1% compared to the preceding year. This was announced by VDM managing director Jan Kurth in connection with the IMM Cologne furniture and furnishings trade show, which opened on 13 January in Cologne. If this turnover growth is achieved in 2020, development of the German furniture industry would be slightly more positive than in 2019 - for which the association, on the basis of the figures for the first ten month compiled by the Federal Statistical Office, meanwhile expects a slight turnover decline of 0.5% to some €18bn compared to the corresponding period in the preceding year. In August the VDM had anticipated a 1.5-2% decrease.

From January to October 2019, at €14.909bn, total turnover of the German furniture industry declined by 0.4% vis à vis the comparative period of the previous year. Whilst a decline of 0.7% to €10.016bn was recorded on the domestic market, export turnover improved by 0.4% to €4.892bn. In this connection, a significant increase of 1.8% to €3.0bn was achieved in the euro zone. The proportion of exports amounted to 32.8% and therefore rose marginally by 0.2 percentage points.

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