OREANDA-NEWS  Since December 2022, the selling prices of Russian furniture manufacturers have decreased by one percent. The fact that domestic furniture has fallen in price is reported by Izvestia with reference to data from the Association of Furniture and Woodworking Industry Enterprises of Russia (AMDPR).

According to the president of AMDPR Alexander Shestakov, along with the reduction in prices, the companies increased the volume of furniture production. "Such results allow us to hope that the furniture market will stop "storming" and its sustainable development will continue," he said.

According to the results of March 2023, furniture products worth 32.6 billion rubles were produced in Russia — this is three percent less than in March 2022. In the first quarter of this year, the volume of production amounted to 85.9 billion — 1.8 percent less than in the previous year. At the same time, 4.9 million units of products were produced last March, which is seven percent higher than the result of March 2022. In general, in the first three months of the year, manufacturers made 12.8 million units — a decrease of 3.9 percent year-on-year, but experts consider them high, given the decline in selling prices. Shestakov said that the lower cost of goods and the simultaneous increase in production volumes not only supports consumer demand, but also allows companies to develop. "Now we can say with confidence that the furniture market has adapted to the new economic conditions, and the price dynamics has become predictable. It feels like the state of the market corresponds to the beginning of 2022," added Vadim Chernushkin, Director of Angstrom.

In February, the head of the Ministry of Construction Irek Fayzullin proposed to include furniture in the mortgage price. The Minister considered that such an initiative would benefit the timber industry.