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Brazil timber furniture industry optimistic for growth
01/09/2010
The reduction of tax on Brazilian industrial products has prompted immediate growth in the country's wood furniture industry, with one industry body predicting it will last long into next year.
The tax was reduced from 10 to 5 per cent, immediately prompting a 10 per cent growth in the sector, according to the Brazilian Furniture Industry Association (ABIMÓVEL).
The organisation said the figures from the first half of 2010 indicate that the full year figures will likely match the pre-recession trade from 2008 of R$22 billion, recovering from an 18 per cent drop to billion in 2009 due to the global recession.
According to ABIMÓVEL, sales have risen rose 13 per cent and timber mills have increased their production from 70 to 85 per cent of the total production capacity.
The organisation revealed the figures at the ForMóbile, the largest trade fair of wood-furniture industry suppliers in Latin America held in São Paulo last month
The fair drew together around 750 exhibitors from nearly 30 countries representing sectors including machinery, components, raw materials, decorative accessories and services.
Industry figures show the exported furniture industry was worth US$ 368 million in the first half of they year, with leading importer, Argentina, importing 106 per cent more timber furniture than in the same period of 2009.
The tax was reduced from 10 to 5 per cent, immediately prompting a 10 per cent growth in the sector, according to the Brazilian Furniture Industry Association (ABIMÓVEL).
The organisation said the figures from the first half of 2010 indicate that the full year figures will likely match the pre-recession trade from 2008 of R$22 billion, recovering from an 18 per cent drop to billion in 2009 due to the global recession.
According to ABIMÓVEL, sales have risen rose 13 per cent and timber mills have increased their production from 70 to 85 per cent of the total production capacity.
The organisation revealed the figures at the ForMóbile, the largest trade fair of wood-furniture industry suppliers in Latin America held in São Paulo last month
The fair drew together around 750 exhibitors from nearly 30 countries representing sectors including machinery, components, raw materials, decorative accessories and services.
Industry figures show the exported furniture industry was worth US$ 368 million in the first half of they year, with leading importer, Argentina, importing 106 per cent more timber furniture than in the same period of 2009.
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