Italian wood furniture industry declines 8% in 2023, with U.S. exports falling

The Italian wood furniture industry declined 8.1% in 2023 from 2022 to around $56.6 billion, due to both a weakening domestic market and weaker exports, according to a new report. FederlegnoArredo, the Italian federation of woodworking and furniture industries, said the domestic market, which makes up 62% of the industry’s output, fell 10.1% for the year. Exports, which make up the remaining 38%, fell 4.5%. “The decline in the supply chain as a whole has also been caused by the physiological decline in internal demand, after two years of exceptional growth,” said FederlegnoArredo ...