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Wood Market News from Europe
¡¾2002.06.19¡¿

Wood Market News from Europe

German furniture exports down

According to the German furniture industry association, German furniture exports in 2001 fell by 1.2% to Euro 4.88 billion against 2000 up to then German furniture exports had recorded double-digit growth rates. German furniture imports also sank by 4.1% to Euro 6.7 billion.

Furniture market in 2001

Exports of furniture from the Czech Republic amounted to Kc 34bn in 2001 and imports to Kc 13.1bn. The trade surplus has increased five times since 1995. Turnover of companies grew by 20% to Kc 48.87bn on year-to-year basis. The furniture producers, however, have to face the strengthening of the Czech.

Tusculum Rousinov, the largest Czech furniture manufacturer which exports 92% of its output, lost Kc 80mn due to the exchange rate. The firm plans to increase productivity and lay off 140 staff in 2002 after the redundancy of 180 people in 2001. This year's turnover should remain at the same level as in 2001 which amounted to Kc 1.5bn.

Exclusive representative in US

Swarzedz Meble, the leading Polish furniture producer, has appointed a key representative in the US. The company signed a contract with 21st Century Asset Management Corporation according to which the American firm will be SM's exclusive distributor in the US. The Polish producer estimates that the turnover generated, thanks to the contract, will amount to around US$ 0.3mn in 2002, and around UD$ 6mn by the end of 2005.

Forte's results for Q1

Forte, the Polish furniture producer, improved financial results in the first quarter of 2002. The company made a profit of Zl 0.77mn, while a year ago it suffered a loss of Zl 0.3mn. Forte's operating profit rose to Zl 2.9mn from Zl 1.44mn despite the turnover was lower by nearly 30% and amounted to Zl 56.5mn.

News from the UK

Retail sales continue to drive the economy with a jump of 1.7% last month and 6.9% higher than a year ago. However growth in GDP is at its weakest since the fourth quarter of 1002.

House prices continue to rise although actual sales have fallen due to the lack of property on the market.

Output in the timber manufacturing sector has shown a welcome increase over the past 3 months but the coming football world cup is thought likely to dent productivity in the UK as many intend to watch the matches mid morning either at home or at work.