$1 Billion for Furniture Export

by Olha Povaliaieva
Monday, February 21, 2022
$1 Billion for Furniture Export

Exports of Ukrainian furniture raised by 40.1% in 2021

In 12 months, Ukraine has exceeded the indicator of +40% to the existing export of furniture goods. This record earned the country $1 billion. The new indicator completed its five-year response and found that the average annual increase in furniture export from 2017 to 2022 was 21.4%.

Several aspects have helped to increase the fixed sales volumes. First, the wood sphere in Ukraine was removed from the "grey" market. According to experts, the annual profits of the timber factories were several million dollars. Second, Ukrainian furniture makers sell finished products in 120 countries worldwide. Over the years, the country has managed to establish business relations with many world-famous companies. The leading retailers of XXLutz, Ikea, JYSK, Homecenter are among regular customers of Ukrainian furniture plants.

In 2021, Ukrainian furniture had two active buyers. Export to these two countries resulted in almost 52% profit. Among them:

  • Poland — 34.3 %;
  • Germany — 16.4%.

Ukrainian furniture makers and carpenters want to set a new record in 2022. An even more ambitious goal they voice for the near future. The Ukrainian internet magazine Gazeta.ua has written that in 8 years, Ukrainian specialists want to enter the Top-10 world exporters. According to experts, Ukrainians need to sell goods abroad in the amount of not less than $14 billion per year.

Another leap in success can be expected soon, as the country is actively eliminating the "grey" market.

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