Furniture manufacturers breathed a sigh of relief with support packages

Furniture manufacturers breathed a sigh of relief with support packages
25 August 2020

The furniture sector in Turkey, which was stagnant in the summer season due to the pandemic, took a sigh of relief with the movement in the domestic market and exports. Turning its route abroad again in June, the year-end target of the sector is furniture exports of 4 billion dollars.

*** This release is originally published in Turkish.
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ISTANBUL (TR) - The furniture sector has been one of the sectors that has been stalling since March, when the Covid-19 outbreak was first seen in Turkey. During the March-April-May-June period, the sector slowed down; led by the state banks and supported by the private banks in June, credit home sales, social life support loans, weddings and increased exports in the first 7 months compared to the same period of the previous year grew by 11%. Murat Erat, Chairman of the Board of Asortie Furniture said: “As the Turkish furniture sector, our target for 2020 before the pandemic was $ 3 billion. Despite the pandemic, we have exceeded our target by July. This is a sign that we will have a golden age in 2021.”

Furniture exports increased by 48% in June compared to the previous year

Evaluating the performance of furniture exports in Turkey despite the pandemic in the first 7 months, Murat Erat said, “June and July saw a significant increase in housing sales due to the credit campaigns and social life support loan packages launched with the support of the state, and houses started to be leveled again. With the normalization of new homeowners and marriage preparations to meet the need for furniture to continue the couples' shopping, furniture sector also mobilized. In June, compared to the same period of last year, furniture exports increased by 48%. If the current table continues in this way, we can increase the 41% decrease recorded in our furniture imports over the last 5 years to 50%. In this way, the face of the local furniture manufacturer laughs more.”

“We will realize our billion export target for 2020”

Referring to the fact that the furniture industry, which exports to 179 countries of the world, is one of the rare sectors that gives foreign trade surplus every year, Murat Erat said, “In this period when the Covid-19 pandemic stopped the whole world, our exports did not stop despite the decrease. We, as furniture manufacturers, as well as our retailers, succeeded in increasing the exports of our industry by doing more than we could. As the furniture industry, we exported 1.8 billion dollars in the first 7 months of the year. I believe we will reach our 2020 target of $ 4 billion in exports.”

Contact: Tülay Genç | [email protected] | +90 (850) 885 12 55