Manufacture of furniture increased by 11.5%

the first eight months of this year Azerbaijan produced furniture at the total cost of 20.5 million manat, which is 11.5% more than in the comparable period of 2013. The volume of imports of furniture has also increased (24.6%).

The furniture industry is one of the few areas of industrial activity, where still preserved are signs of fair competition. According to the State Statistics Committee, in the furniture industry there are working 84 companies. In 2013, this business was joined by 12 legal entities. There were recorded more than 800 individual entrepreneurs who are engaged in the production of furniture.

In 2013, the amount of furniture in Azerbaijan amounted to 43.9 million manat, which is 5.9% more than in 2012. Over the past five years, the highest production was recorded in 2010 - 51.5 million manat. Only for the 2011-2013 year in the sector there was invested 65.5 million manat. Today the furniture industry employs 4,200 people, which is 2.3 times more than in 2005.

The leader of the furniture industry in Azerbaijan is LLC Embawood. The company raised AZN 10 million from the capital market this year by issuing bonds. Embawood has 3 furniture factories in Azerbaijan, 2 - in Georgia, and one - in Kazakhstan and Ukraine. The number of its stores has reached 220, including 136 in Azerbaijan. In 2012, the volume of sales of the furniture company in Azerbaijan amounted to 44.4 million and in 2013 - 59.5 million manat. At the same time, the company claims that it owns only 20% of the furniture market in Azerbaijan. Other market participants, producers of domestic furniture are Yagmur (home furniture), Saloglu (home furniture), Woodpacker (home furniture), Viva (home furniture), Greenwood (home furniture), Dellora (home furniture), Istikbal (home furniture), Bellona (home furnishings), Kelebek Mobilya (home furniture), Dogtas (home furniture), Zivella (office furniture), Mline (office furniture), and others.

During the eight months of this year, Azerbaijan imported furniture and its components totaling $ 62.3 million. Last year, the volume of imports of furniture fell by 13% to $ 87.2 million. --08B--

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