Furniture Industry Makes Swift Entry into 2024 with Impressive Growth

The furniture sector, a key player in international trade, has catapulted into 2024 with remarkable achievements, as announced by Koray Çalışkan, Chairman of the Board at Modoko. Highlighting the industry’s success, Çalışkan stated, “We have successfully exported to 200 countries, with notable destinations including Iraq, Germany, the United States, France, and Romania.”

According to a statement from Modoko, the furniture sector concluded 2023 with a substantial export figure of 4.6 billion dollars.

With a minimum export target of 5 billion dollars set for 2024, the industry has wasted no time in making a robust start to the year. During the January-February period, the sector achieved a 4.8% increase in exports compared to the same period last year, amounting to an impressive 706.2 million dollars.

“Successful Completion of the First Two Months of 2024 for our Furniture Sector” In his evaluation included in the statement, Çalışkan noted that the furniture sector recorded an 11.56% increase in exports in February compared to the same month last year, reaching an export value of 366.1 million dollars.

Çalışkan emphasized, “Our furniture sector, which exports to 200 countries, has successfully completed the first two months of 2024. We have exported significantly to Iraq, Germany, the United States, France, and Romania, with a remarkable growth of 58.77% in Iraq and 23.56% in the U.S. The U.S. is a market we carefully focus on, achieving exports with a value of over 4 dollars per kilogram in value-added exports. Exceeding 1 billion dollars in exports to the U.S. in the short term is feasible.”

Amid rising costs in investments, Çalışkan highlighted that producers in the sector adopt a cautious “wait and see” approach, addressing the scale issue in the furniture sector.

To enhance efficiency in the furniture industry, Çalışkan stressed the need to eliminate unfair competition and establish specific standards for company setups. He stated, “We need to examine how 10,000 furniture manufacturers in Germany produce more than 45,000 in Turkey. To strengthen the sector and eliminate informal businesses, it is essential to set standards for entering the industry. In addition to industrial zones organized by sector, sales centers, or sector-specific malls, should be established both domestically and internationally. One of the significant problems in Turkey is that industry players, instead of coming together to solve sector issues and foster growth, choose to compete individually. We should be able to collaborate, generate joint projects, and address sector challenges collectively.”

source: prepared by Melisa Beğiç

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