Brazil furniture exporters urged to diversify markets

Brazil’s residential furniture exports may reach U$633.5 million, almost seven per cent higher in 2017 compared to 2016, but analysts say this is nothing to cheer about.

Half of the total were shipped to only three countries: the U.S., UK and Argentina. The three markets accounted for about 47 per cent of the total, just one per cent higher than in 2016. Furthermore, sales to Argentina fell nine per cent while that to the UK declined 13 per cent.

2017 figures were also still at least US$50 million below 2014 sales.

The home of the Amazon continues to buy furniture from overseas, totaling US$538.5 million last year, an almost 16 per cent rise from 2016. At least one-third of all imports come from China, a 34 per cent increase over the previous year.

Source: ITTO