In 2023, Germany led European furniture manufacturing wages and salaries, holding the largest share. Italy and Poland followed, with Italy observing modest growth, and Poland demonstrating a 3.75% increase. The United Kingdom experienced slight decline, while France and Spain observed decreases of 0.9% and 1.81% respectively. Notably, Lithuania displayed significant growth at 18.25%, and Serbia and Bulgaria also experienced solid increases. In contrast, Iceland faced a notable reduction at 7.1%. Over a five-year span, Lithuania and Serbia have shown substantial compound growth, indicating emerging markets within European furniture manufacturing.
Future trends to monitor include continued growth in Eastern European countries like Lithuania, Serbia, and Bulgaria, potentially driven by competitive labor costs and increased production capacity. Germany and Italy are anticipated to maintain leadership but may see competitive pressures. Additionally, potential economic shifts, inflation, and labor market changes could impact wage distributions across Europe.
Top countries in Furniture Manufacturing Wages and Salaries Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 22.96 | 2023 | +1.43% | +1.62% | View data |
| 2 | 2 Italy | 14.59 | 2023 | +3.83% | +1.39% | View data |
| 3 | 3 Poland | 9.96 | 2023 | +3.82% | +3.75% | View data |
| 4 | 4 United Kingdom | 9.58 | 2023 | -0.69% | -0.49% | View data |
| 5 | 5 France | 6.29 | 2023 | +2% | -0.9% | View data |
| 6 | 6 Spain | 4.87 | 2023 | -1.83% | -1.81% | View data |
| 7 | 7 Austria | 3.74 | 2023 | +0.48% | +0.04% | View data |
| 8 | 8 Netherlands | 3.22 | 2023 | -0.029% | +0.4% | View data |
| 9 | 9 Lithuania | 3.02 | 2023 | +11.53% | +18.25% | View data |
| 10 | 10 Switzerland | 2.78 | 2023 | -0.8% | -0.01% | View data |
