Forecasted Growth for Argentina
In Argentina, furniture consumption grew by 10% in 2010 on the previous year. CSIL preliminary data for 2011 were again of growth and CSIL forecast is positive also for 2012 (+4% growth of furniture consumption in real terms). The country is exposed to increasing competition from foreign producers. Imports from the neighbouring Brazil, from example, undercut the sales of many Argentine producers. In 2010 furniture imports in Argentina again began to show growth thanks to the pick-up in demand in the domestic economy. The overall value of furniture import in 2010 was in the range of US$ 420 million.
According to preliminary data for the year 2011, a further +30% increase in import level was recorded. The increase in imports of furniture and furnishings was more than proportional to the increase in domestic consumption and far greater than the increase in exports. At present, imports satisfy around 20% of the domestic market (in value). China and Brazil are the major suppliers to the Argentine market, the first with a share of over 40% of total furniture imports, the second with 34%.
FURNITURE PRODUCTION DEVELOPMENT
Argentina claims 15% of the total surface area of South America, but only 3.5% of the forested area. Total furniture output was in the range of US$ 400 million in 2010.