SPANISH FURNITURE TRADE

2012 FIRST TRIMESTER REPORT

 JANUARY MARCH 2012: SPANISH FURNITURE

EXPORTS, IMPORTS AND SECTORIAL BALANCE According to ESTACOM statistics, from January to March 2012, Spanish furniture exports amounted to 337 million euros, which represents an encouraging growth of 5.7%, if compared to last years results for the same period. On the import side, figures indicate that at the end of the first trimester Spains furniture imports decreased sharply by 12.5%, amounting to 524.1 million euros against 598.7 million euros of previous year.

Import and export figures reveal that the deficit of the Spanish trade balance amounts to -187,1 million euros, while the import/export coverage ratio makes up 64.3%.
2011 January February March JanuaryMarch 83.8 102.3 128.6 318.7 2012 94.9 108.2 133.9 337.0 % 12/11 8.1% 5.8% 4.1% 5.7%

in million euros
ANIEME - Spanish Association of Furniture Manufacturers and Exporters

Source: ESTACOM

 MAIN MARKETS FOR SPANISH FURNITURE

France, Portugal, Germany, Italy and United Kingdom are the main Spains furniture purchasers in the first trimester 2012. Although many European markets have recorded a sharp setback due to the general decline of their domestic consumer demand, EU countries maintain their leading position among major Spains furniture purchasers. Furniture sales to top five importers made up 57,8% of total exports. Looking at major markets, France, whose furniture purchases from Spain amounted to 97,8 million euros, stands out as the top Spanish furniture importer. With a share of 29% of Spanish exports, France consumes as much Spanish product as Portugal, Germany, Italy and United Kingdom altogether (28,8%).

A country where Spain is doing particularly well is Morocco, that ranks now 6th among main Spains clients just behind 5 EU countries - with an increase of 17.5% of Spanish furniture imports.
ANIEME - Spanish Association of Furniture Manufacturers and Exporters

 Ranking of main destination markets for Spanish furniture exports

Countries JAN-MAR 2012 97.8 42.4 23.5 16.9 14.2 11.3 10.6 8.6 8.5 7.3 6.6 4.7 3.7 3.5 3.5 % OF TOTAL EXPORTS 29.09% 12.6% 7% 5.0% 4.2% 3.4% 3.1% 2.6% 2.5% 2.2% 2.0% 1.9% 1.1% 1.0% 1.0% VARIATION 10-09 14.2% -17.4% -0.25% -8.1% -7.9% 17.5% 43.2% -7.0% 62.5% 12.7% -2.9% 10.2% 8.1% -6.2% 1.9%

France Portugal Germany Italy United Kingdom Morocco Russia USA The Netherlands Belgium Mexico Saudi Arabia Poland Turkey Switzerland

in million euros
ANIEME - Spanish Association of Furniture Manufacturers and Exporters

Source: ESTACOM

 MAIN TRENDS IN SPANISH FURNITURE EXPORTS

On the whole, it should be pointed out that Spanish furniture sales have showed an upward trend during 2012 first trimester. Encouraging results have been registered both in Northern and Eastern Europe: to compensate the decrease of sales to Germany, the Netherlands and Belgium have increased their imports of Spanish furnishing products by 62,5% and 12,7%, respectively; exports to Russia have picked up again by 43,2%, while exports to Poland have risen by 8,1%. On the other hand, between January and March 2012, exports to United States (-7%) and Saudi Arabia (-34,0%) have registered the most significant decline.
ANIEME - Spanish Association of Furniture Manufacturers and Exporters

 IMPORTS

As far as the main furniture supplier countries are concerned, China, whose furniture purchases from Spain amounted to 128.5 million euros (-15.0%), consolidates itself as the main origin market, concentrating more than 24% of Spains imports of furniture. Four countries of the EU (Portugal, Germany, Italy and France) rank 2nd to 5th just behind China, representing 41.4% of total imports. As it can be observed, all Spains furniture suppliers have registered negative results, due to the drop of Spains domestic demand.
ANIEME - Spanish Association of Furniture Manufacturers and Exporters

 Main furniture trading partners: origin of furniture imports

Countries China

JAN-MAR 2012 128.6

% OF TOTAL IMPORTS 24.5%

VAR. 12-11 -15.0%

Portugal Germany
Italy France Poland Czech Republic Romania Morocco Vietnam

66.8 59.9
50.8 37.7 31.3 12.5 12.0 9.5 9.3

13.1% 11.4%
9.7% 7.2% 6.0% 2.4% 2.3% 1.8% 1.8%

-13.5% -10.2%
-8.6% -3.3% -14.5% -22.5% -14.2% 8.4% -28.7%

in million euros
ANIEME - Spanish Association of Furniture Manufacturers and Exporters

Source: ESTACOM

 RESULTS BY AUTONOMOUS COMMUNITIES (REGIONS)

Looking at results by Autonomous Communities (Regions), Catalonia keeps on playing a leading role in the national furniture exports. With furniture exports worth 100.9 million euros, Catalonia has recorded a significant increase of 9.7% during 2012 first trimester. Its exterior sales make up 29.9% of the Spains total furniture exports. The Valencia Community ranks second with furniture exports amounting to 74.1 million euros and registering a significant increase of 13.3%. It is worth to point out that both Communities represent 51.9% of the national furniture exports, showing that sales to foreign markets are largely concentrated in only two regions. Lagging far behind, the other Autonomous Communities with significant export performances are: Galicia (28.2 million euros), Madrid (20.7 million euros), Aragon (20.6 million euros), the Basque Country (19.40 million euros) and Andalusia (17.4 million euros). With exports amounting to 10.9 million euros, Murcia, one of the main Spanish furniture producer cluster, ranks now tenth.
ANIEME - Spanish Association of Furniture Manufacturers and Exporters