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Industry revenue of »retail sale of furniture, lighting equipment« in Slovakia 2011-2023

Over the years, furniture manufacturing has been declining in Slovakia, owing to the rising labor costs, lack of advanced manufacturing capabilities and the increasing competition from foreign counterparts. The number of enterprises in the manufacturing of furniture have shrunk from 1600 in 2010 to 1168 in 2018. As a result, revenues from furniture and lighting equipment retail are projected to decline from 559 million U.S. dollars in 2011 to 500 million U.S. dollars by 2023. Majority of the domestic demand is fulfilled through low cost imports. In fact, the country’s furniture imports were valued at over 2.3 billion U.S. dollars in 2018. In comparison, the total export value amounted to 1.8 billion, as per data from the UN Comtrade. Germany, followed by Czech Republic, Poland and France are amongst its main trading partners.

Amongst the various furniture segments, living and dining room furniture accounts for the largest market share, followed by floor covering and, lamps and lighting.

Industry revenue of »retail sale of furniture, lighting equipment« in Slovakia from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Slovakia. The industry “retail sale of furniture, lighting equipment and other household articles in specialised stores“ has the code “G4759“.

Details on the methodology can be found here.

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