The Spanish National Association of Furniture Manufacturers and Exporters (ANIEME) has just released the Spanish furniture foreign trade report for the first semester of 2018. Figures reveal that, during this period, Spain’s exports of furniture have grown by 2.5%, exceeding 1,074 million euros. It is worth highlighting the increase in Spanish furniture exports to markets as diverse as the United States, Morocco, France and Mexico.
FOREIGN TRADE: EXPORT AND IMPORT
- From January to June of 2018: Spanish furniture export grows by 2.5%
During the first half of 2018, sales abroad of Spanish furniture have amounted to over 1,074 million euros, registering a rise of 2.5% compared to previous year’s figures for the same period.
|January - June 2017||January- June 2018||Δ% 18/17|
*Millions of Euros SOURCE: ESTACOM
- From January to June of 2018: Main destinations of the Spanish furniture export
With a rich offer in styles and product ranges and with its unique emotional approach, Furniture from Spain has consolidated its presence in biggest EU countries: France, Portugal, Germany and the United Kingdom, which rank 1st to 4th among Spain’s major markets and concentrate 50.9% of total exports.
Looking at major markets, France, whose furniture purchases from Spain amounted to 278.0 million euros, stands out as the top importer of Spanish furniture. With a share of 26.8% of Spanish exports, France consumes as much Spanish products as Portugal, Germany, and United Kingdom altogether (24.1%).
France is therefore a crucial market for the Spanish furniture industry that should keep on investing in this country in order to maintain its elevate market share.
On the other hand, considering that a strong dependency on a market or the excessive market concentration in the UE countries is not positive, Spanish brands have striven to diversify their destination markets by increasing their presence on other areas and continents.
As a result, Spanish furniture has gained important positions in the United States, Morocco and Mexico, where CEO of Spanish furniture companies have focused their market strategies for both the residential and contract markets.
This way, significant increases have been registered in exports to America. With imports of Spanish furniture growing by +8.3% to 57.3 million euros, the U.S.A. earned the 5th position in the ranking and it is now the first international destination market just behind the UE countries. Exports to Mexico have increased slightly (+2.5%), totalling 25.9 million euros. In the Caribbean area, where Spanish companies have been working on major hospitality products, Dominican Republic and Jamaica rank respectively 19th and 22nd.
Regarding exports to Russia, which until a short time ago could be considered a major market for the Spanish furniture industry, keep going down, occupying this country the 15th position in the ranking of destinations, with a decrease of 6.8% in this period.
- From January to June of 2018: Import of Spanish furniture increases by 5.2%
In the first half of 2018, Spain imported furniture worth 1,588 million euros, which represents a rise of 5.2% compared to the first half of 2017.
Import and export figures reveal that the deficit of the Spanish trade balance -514 million euros, while the import/export coverage ratio made up 67.6%.
- From January to June of 2018: Destination countries of Spanish furniture import
Ranking of countries. Spanish import
|January - June 2017||January - June 2018||
As we can see from the previous table, Spanish furniture imports have grown by 5.2% between January and June of 2018. Although China keeps on being the main supplier of furniture for Spain, its sales have notably decreased by 9%. Imports from the Asian country represent nevertheless the 20.6% of the total.
Different EU countries, Portugal, Germany, Italy, Poland and France, occupy the next position in the rank of Spain’s major suppliers of furniture products, which means that not all of Spain’s imported furniture is of the “low cost” nature.