As Spain’s furniture exports continue to grow at a much faster pace than imports, the country’s trade deficit in the industry was reduced by 5.6% in the first half of the year.
In the first half 2017 Spain’s furniture exports were up 4.5% and reached EUR 1.05 billion while furniture imports grew 1.2% to EUR 1.51 billion for a 5.6% reduction in Spain’s furniture trade deficit from EUR 489 million in the first half of 2016 to EUR 462 million in 1H-2017.
France continued as Spain’s main export market in 1H-2017 with EUR 272 million compared to EUR 270 million in 1H-2016 (+0.8%), followed by Portugal with EUR 120.3 million (1H-2016: EUR 118.4 million) and Germany EUR 77.9 million (1H-2016: 84.9 million) that suffered the largest drop in the period (-8.3%). Mexico was the fastest growing export market for Spanish furniture in 1H-2017 (+24.1%) reaching EUR 25.3 million.
On the furniture import side China continued as the main furniture supplying country with EUR 359.7 million in 1H-2017 (1H -2016: 336.2 million) and 7% growth. Portugal was the second furniture supplying country in 1H-2017 with EUR 225.7 million (1H-2016: 222.7 million), followed by Germany with EUR 153.9 million (1H-2016: EUR 147.5 million) and Italy that surpassed Poland, with EUR 120.4 million (1H-2016: 124.1 million). Vietnam was the fastest growing supplier in 1H-2017 with an increase of 43.4% and Poland had the largest drop in furniture shipments to Spain (-33.6%) in the first half 2017.