Total turnover for the UK furniture industry increased to nearly £9 billion in 2017, up 2.8% on the previous year. According to a review of UK manufacturing performance in 2017 by British Furniture Manufactures (BFM) from official statistics, the total turnover for the sector including income from non-production activities, totalled more than £8.7 billion.
Retail sales for the year, in terms of value also showed an increase of 3.1%, although by volume crept up by just 0.1% on 2016.
Said Mike Dimond, BFM’s director of employment and membership: “The report also confirmed that raw material costs are still a major issue for the sector – something picked up in our February state of trade survey. Official figures revealed 2017 prices were up by an average of 6.0% on the previous year.
“Factory gate prices of ‘all furniture’ increased by 2.6% on average over the year in an attempt to recover margins as a result of increased material costs – it’s the largest rise in costs since 2011.
The BFM’s full report looks at a range of sectors and how they compare on prices according to official figures. It covers mattresses, kitchen furniture, office and shop furniture, seats primarily with wooden frames, seats primarily with metal frames and wooden furniture for the bedroom and living room.
The full copy of the report is available to BFM members only.