Germany's wood industry records a decrease in revenue for 2023

February 22, 2024
Source:
HDH/Fordaq
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The weak economic environment significantly impacted sales development in the German wood industry in 2023. Industry sales fell by 10.6% to €40.4 billion compared to the previous year, as reported by the Main Association of the German Wood Industry (HDH), citing figures from the Federal Statistical Office. The data records the development for companies with 50 or more employees.

The decisive factor for the double-digit decline in sales was the development in key sectors. In 2023, the sawmill industry recorded a reduction in sales of more than 27% to €6.4 billion. Sales of wood-based materials fell by 15.6% to €5.3 billion. The largest percentage decline in sales in the wood industry in 2023 was recorded in wood packaging, with a decline of 27.5% to €863 million.

The losses in the furniture industry were less drastic, falling by 4.3% to €18.0 million. Contrasting developments were recorded within the individual segments. The biggest losses occurred in “other furniture”, which also includes living room, dining and bedroom furniture, with sales down 12.6% to €5.6 million. On the other hand, a slight increase of 2.6% to €2.3 billion was recorded for office furniture, while sales of shop and other contract furniture also increased slightly, by 3.3% to €2.3 billion.

Sales in the construction-related sector of the wood industry fell by 3% to €7.7 billion in 2023 compared to the previous year. “The order backlog in the construction-related area of ​​the wood industry, which was still relatively high at the beginning of the year, was gradually reduced over the course of the year, while at the same time fewer and fewer orders were received. “The demand for construction plummeted due to the massive increase in construction costs, the increasingly poor financing conditions and the unclear funding conditions,” says HDH managing director Denny Ohnesorge about the figures and would like to see more support from politicians.