Brazil’s furniture and mattress exports rebound in July, but challenges persist

Brazilian furniture and mattress exports performed well in July 2023, with international sales totaling USD 62.0 million, one of the best month-to-month results of the year. However, in the first seven months of the year, the sector saw a 16.2% decrease in exports compared to the same period in 2022.

The value for July represents a 5.1% increase in exports compared to the performance in June, when exports reached USD 59.0 million. Thus, the sector began partially recovering the volume lost in the previous month, bringing more positive prospects for the year’s second half.

These figures are part of a survey by IEMI, based on official data from the Brazilian trade balance, for the Brazilian Furniture Sector Project, an initiative conceived by the Brazilian Association of Furniture Industries (Abimóvel) and the Brazilian Agency for Promotion of Exports and Investments (ApexBrasil) to boost the participation of the Brazilian furniture industry in the international market.

“Although July showed positive performance on the path to recovery, this journey still presents many obstacles. The year-to-date drop, as well as the last 12 months, which stands at -18.7%, reflects the challenges we face in the domestic and international markets. High global inflation, with special attention to the target markets of the Brazilian furniture industry, as well as geopolitical uncertainties and changes in consumer demands worldwide, especially regarding economic and environmental sustainability, are factors that continue to pose frequent challenges,” analyzes the president of Aimóvel, Irineu Munhoz.

Currently, the United States leads as the primary destination for Brazilian furniture and mattress exports, with a significant 32.5% share in July. Following are Uruguay, with 10.0%, and Chile, with 6.8% of the total exported. Moreover, markets like the United Kingdom, France, and other Latin American countries have also contributed to the sector’s exports this year.

Source: Comex do Brasil

To read the original news report, see: https://comexdobrasil.com/exportacoes-de-moveis-e-colchoes-ensaiam-recuperacao-em-julho-mas-caem-no-semestre/

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