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International Internet Magazine. Baltic States news & analytics Tuesday, 21.08.2018, 01:09

Members of Latvian furniture producers' association raise turnover by 2.7% in H1

BC, Riga, 21.08.2017.Print version
During the first half of 2017, the companies united in Latvijas Mebeles (Latvian Furniture) furniture producers' association raised their aggregate turnover by 2.7% year-on-year to EUR 26.8 million, while their exports increased by 1.5% to EUR 17.71 million, the association’s executive director Ieva Erle told LETA.

She described the turnover and export growth as a good achievement and said that the furniture makers’ results were in line with the targets. The positive trend is likely to continue throughout this year, Erle said.


The association’s representative noted, however, that demand for soft furniture was declining in Europe and raw materials are becoming costlier, which affects the overall situation, but for the producers this is a stimulus to look for new sales markets and new solutions.


In the first half of 2016, the members of Latvijas Mebeles association generated EUR 26.1 million in aggregate net turnover, with export sales accounting for EUR 17.45 million of that amount.


As reported, the members of Latvijas Mebeles association saw their aggregate turnover in 2016 grow 5.3% year-on-year to EUR 84.7 million, while exports increased 1.7% to EUR 40.1 million.


Latvijas Mebeles has 16 members, the largest of them being Valmieras Mebeles, Dailrade Koks and Pinus GB.

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