Brazilian Furniture and Mattress Exports Keep Growth Momentum in March 2024

In March 2024, Brazilian furniture and mattress exports continued to perform well, marking the third consecutive increase in year-on-year variation compared to the same period in the previous year. Data compiled by the Brazilian Furniture Sector Project revealed that the sector achieved a total of US$59.1 million in exports in March, representing a 4.6% increase compared to the previous month.

Such growth in the third month of the year aligns with the positive trend observed at the beginning of 2024, with first-quarter exports showing a 0.4% increase compared to the same period last year. This performance is particularly noteworthy considering the context of a negative variation of -7.1% accumulated over the last 12 months.

New reports exclusively prepared by IEMI for the Brazilian Furniture Project, an initiative by the Brazilian Furniture Industry Association (Abimóvel) in partnership with the Brazilian Export and Investment Promotion Agency (ApexBrasil), shed light on these trends and highlight efforts to boost Brazilian exports in the furniture sector.

Trade Balance Analysis

A comprehensive examination of the Furniture and Mattresses Trade Balance indicates that efforts to expand foreign markets and enhance the quality of Brazilian products are yielding positive results.

In January 2024, exports amounted to US$48.9 million, increasing to US$56.5 million in February and reaching a peak of US$59.1 million in March. Although these figures were lower than those observed in the previous quarter (October-December 2023), they represent positive revenue for this time of year and exceed the revenues of the first three months of 2023. This monthly increase solidifies the sector’s upward trajectory on the global stage.

Furthermore, the sector’s trade balance improved, with March recording a surplus of US$35.6 million, the largest of the quarter. This outcome underscores the competitiveness of the Brazilian furniture and mattresses industry in the international market.

Looking Ahead

Despite reasons for optimism stemming from recent advances, the current scenario underscores the importance of continued strategies to fortify the sector and ensure long-term stability in exports.

“Diversification of markets, innovation in design and sustainability, as well as investment in modernizing factories, are fundamental to sustaining the growth trend and reclaiming historical levels of exports by the Brazilian furniture sector,” emphasized Irineu Munhoz, President of Abimóvel.

SourceComex do Brasil

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