Despite this, the sector's trade balance remained positive with a surplus of more than US$500.9 million. Market diversification strategies and participation in international events, such as the ICFF (International Contemporary Furniture Fair) in New York, are planned to boost exports in 2024.
Although the national furniture sector faced challenges in 2023 it plans innovative strategies for 2024 that differentiate Brazilian products with the aim of increasing international competitiveness. Brazil, renowned for producing quality furniture, is aiming for long-term growth in exports and promotes the high level of differentiation and design rather than just competing on price.
The New Year has brought some optimism but export projections depend on the economies in target markets and specifically inflation control in the furniture production chain and the global geopolitical situation which have a direct impact on international commodity prices.
