The Italian furniture sector continues to represent one of the country's industrial excellences. According to a study released by OpenEconomics during the 2024 Milan Furniture Fair, the economic impact of the industry on national GDP in 2022 was estimated at €60 billion.
Sector structure and reaction to external shocks
In 2022, the industry counted around 21,750 active companies in Italy, employing 140,300 people, and saw an 11% increase in turnover compared to 2021. The sector responded positively to external shocks, such as rising energy and raw material costs, maintaining satisfactory profitability levels — especially in Southern Italy and among more structured companies.
With a total turnover of €29 billion, the economic multiplier was 2.06: for every euro generated in the sector, €2.06 of economic value is activated along the furniture value chain.
The furniture value chainand induced effects
The study estimated the economic impact of the furniture industry using the Social Accounting Matrix (SAM), a macroeconomic tool that simulates how economic sectors respond to spending stimuli.
The analysis shows how the €29 billion in expenditure generated €60 billion in GDP, through direct, indirect, and induced effects, extending to complementary sectors such as transport, logistics, manufacturing, and services.
Key indicators: income, fiscal revenue, and employment
In addition to GDP, the study also estimated the impact in terms of:
- Household income distribution
- Jobs activated along production chains
- Tax revenue generated
All data were calculated with regional disaggregation, allowing a detailed view of the sector’s contribution to local growth.
For more details, view the full report. (Report in italian)
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