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German furniture imports outpace exports
According to the German Federal Statistic Office and
VDM (the German Furniture Association), the upward
trend in Germany's total furniture exports in 2005 (up
6%) continued in the first quarter of 2006. In this
period, German furniture exports surged 15.4% to €1.32
billion. The increase was mainly due to growing
seatings/upholstery and kitchens sales. These two
product segments together accounted for about 60% of
total German furniture exports.
Exports of bedroom, dining room and living room
furniture increased 1 % in the first quarter of 2006
while those of office furniture rose 7.6%. The EU-25
area remains the major destination market with 64.6%
of the total exports. Top trade partners are the
Netherlands (accounting for a 9.5% increase in the
first quarter 2006), France, Austria, Belgium and
Eastern European countries. Although starting from a
low base, Germany's furniture exports to China grew
65% in the quarter under review.
On the other hand, German furniture imports grew more
rapidly (up 20%) than exports, reaching €1.8 billion
in the first quarter of 2006. Austria is Germany's
main furniture supplier in Western Europe, whereas
imports from Italy and Denmark increased only
slightly. Furniture imports from Eastern Europe
(notably Poland) and Asia (notably China) showed a
lively trend.
Congress supports
"World Furniture Organization"
More that 300 participants
from 40 different countries and over 60 presidents and
directors of furniture manufacturers' organizations of
five continents attended the first edition of the
World Furniture Congress held on 23-25 May in Palma de
Mallorca, Balearic Islands (Spain). The event was
organised by the European Furniture Manufacturers
Federation (UEA) with the support of Balearic
authorities and local institutions.
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The congress analysed the significant changes that the
sector had experienced in recent years and the key
challenges and strategic issues of a global market in a
fast growing furniture international trade scenario.
In the final session called "Institutional Protocol for
world-wide cooperation for the Furniture Industry",
speakers from Asia Pacific, Russia, USA, China, Egypt
and Brazil supported the proposal of creating a World
Furniture Organization (WFO) in the near future.
Danger of house prices collapse abates
The Association of Estate Agents reported that house
prices overall in the UK remained firm in May, with
London and the South East leading the way. According to
OECD research, the Bank of England has dramatically
reduced the dangers of a potential house market crash.
This is in contrast to last year's prediction when
analysts saw the chance of house prices collapsing up to
30%. According to the Council of Mortgage Lenders (CML),
lending was 18% higher in May than in April and nearly
30% higher than in May 2005. Lending was boosted by a
strong London market and consumer confidence. The
Building Society Association and the British Bankers
Association also support this trend.
The positive housing environment has prompted some
movements in the sector. Building supplies group
Wolseley has announced 7 further acquisitions at a total
cost of £87 million, which is expected to boost sales by
nearly £200 million. House builder Persimmon, one of
UK's largest, reported sales up 7% in the first semester
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