Rio Grande do Sul furniture shipments increased by 26% in August
Nov, 21, 2018 Posted by datamarnewsWeek 201847
According to the International Tropical Timber Organization (ITTO), the State of Rio Grande do Sul, which produces most of the wooden furniture in the country, exported mainly to the US and Uruguay (15% each) and the UK (14%) between January and August period. Market Intelligence Institute IEMI reported the state observed a 26% increase in furniture shipments in August, equivalent to export revenue of US$17.8m.
Supporting sources
Brazil: Rio Grande do Sul furniture exports increased by 26% in August
Date: 16/11/2018
Manufacturers in Rio Grande do Sul account for most of the wooden furniture production in Brazil. Between January to August 2018 furniture manufacturers in the State of Rio Grande do Sul exported mainly to the United States and Uruguay (15% each) and the United Kingdom (14%), as ITTO reported.
In August there was a 26% increase in furniture exports from Rio Grande do Sul State compared to the previous month. The value of these exports was $17.8 million according to IEMI – Market Intelligence Institute.
The president of the Furniture Industry Association of Rio Grande do Sul (MOVERGS) has said his association is pleased to see the increase in foreign currency earnings which is a result of manufacturers beating the competition in international markets.
But, there are challenges. As the currency weakens manufacturing inputs such as imported components used in the manufacture of furniture become more expensive and planning production and pricing becomes a nightmare if exchange rates are volatile.
Related Post
-
Grains
Feb, 06, 2019
0
Drought takes toll on soybean harvest in Goiás but spares Paraná
-
Economy
Jan, 17, 2022
0
Brazilian agribusiness balance shows a surplus of US＄ 105.1 billion in 2021
-
Ports and Terminals
Jan, 20, 2022
0
Minfra approves new polygonal area to double the Port of Santos’ area
-
Trade Regulations
Mar, 23, 2022
0
Brazil and Thailand sign agricultural cooperation MoU