ITALY – The Italian wood-furniture sector has had a challenging start to the year, experiencing a sales contraction of 5.2% in the first half (6M-2024), affecting both the domestic market (6.0%) and the export market (4.1%).

However, forecasts for the remainder of 2024 suggest a potential recovery. Companies in the sector are working with confidence, hoping to end the year in line with 2023 results, particularly due to exports. This sentiment emerges from the January-June Monitor by the FederlegnoArredo Study Centre, based on a representative sample of companies.

Overall, companies reported sales totaling EUR 4.65 billion in the first half of the year, with over 40% coming from exports. Despite this, the overall trend was negative, with an average contraction of 5.2%. The first quarter of 2024 showed signs of weakness, with a significant sales drop of 7.6%. However, the half-year results indicate a slowdown that is more contained.

The furnishing macro-system, which holds significant value in total sales, recorded a decrease of 3.7% compared to the first six months of the previous year. Specifically, sales in Italy fell by 3.1%, while foreign sales, which make up half of the total, declined by 4.2%. Although the current figures are negative, forecasts suggest a potential improvement in the second half of the year. The furniture macro-system is expected to see a 1.4% increase, with a slight decline in Italy (0.4%) offset by a growth in exports (3.3%).

The wood macro-system experienced a significant downturn, closing with a total sales decline of 7.8% in 6M-2024, particularly in the domestic market (down 9.6%), while foreign markets saw a smaller decline (down 3.2%). Nevertheless, it appears that the negative trend is gradually diminishing. Despite a sales contraction in Italy (1.7%), companies remain hopeful for a 6% increase in exports, which would account for 28% of total sales, aiming to close the year in line with 2023.