Association of Furniture and Woodworking Enterprises of Russia: furniture production in Russia surged by 33% in 2023, up to 66.7 million pieces

Production of kitchen furniture (tables, cabinets, etc.) soared the most—by 81%.

The output increased by 23% YoY in monetary terms, up to 438 billion rubles (it was 356 billion rubles in 2022). Furniture prices in the domestic market increased by an average of 6.3% (October 2023 compared to December 2022). The growth of furniture prices began in July and accelerated in the end of the year. Kitchen cabinets (+16%) and kitchen furniture sets (+12%) experienced the greatest price hike. Only two categories of furniture became cheaper: wooden children’s beds (-6%) and wooden office furniture (-2%).

The positive market trend was supported by the commissioning of new housing and by stable product prices that did not grow until summer 2023, Alexander Shestakov, CEO of Pervaya Mebelnaya Fabrika, believes. Furniture purchasing by municipal government agencies and state-owned companies also increased in the current year after a pause in 2022.