Value of furniture manufacturing declines during 2023

The value of the manufacture of furniture fell during 2023, while mattress making rose, says new ONS data.

According to the latest annual estimates for UK manufacturers’ sales by product covered by the ProdCom survey via the Office for National Statistics (ONS), the total value of UK manufacturers’ product sales was £456.1bn in 2023, an increase of £17.2bn, or by 3.9%, from £438.9bn in 2022.

The manufacture of furniture valued £7.8bn, down 3.7% from £8.1bn in 2022. The value was in line of the amount reached in 2021.

Within this sector, the manufacture of kitchen furniture valued £2.4bn, flat on the 2022, while the manufacture of other furniture, including upholstery and cabinet subsectors, valued £3.2bn, down 11.1% from £3.6bn.

The manufacture of shop and office furniture valued £1.2bn, also flat on the prior period, while the manufacture of mattresses valued £871m, up 4.5% from £833m – marking its second highest value in a decade, below £889m in 2021.

The manufacture of carpets and rugs valued £780.2m, down 0.9% from £787.7m in 2022. It still remained the second highest value in 10 years.

The manufacture of food remained the largest division and represented 20.8% of total manufacturers’ sales in 2023. The manufacturing of motor vehicles division showed the largest value increase, up by £9.6bn (22.0%) in 2023 to £53.3bn.

Customers having less disposable income to spend on non-essential items because of the increasing cost of living was a common reason provided for declining sales, alongside higher production and operational costs.

Save this article for later

You can revisit this article if you save it as favourite news!

Leave a Comment

MORE ARTICLES

Maria Ayley, Implementation Manager at FurnitureBooks, talks about how RetailSystem integrates directly with QuickBooks online....