Russian furniture industry production increased 17% annually on average in 1999-2003

May 18, 2004. /Lesprom Network/. Russian furniture industry production increased 17% annually on average during 1999-2003, Felix company public-affairs quoting the research prepared by Pro-Invest Consulting reported. The following factors contributed to the industry growth: a considerable increase in furniture consumption; the satiation of the interior market with quality raw materials and resources; favorable governmental policy aimed at restricting cheap imports. During the next 3 years annual furniture production growth is forecasted at 20% annually. Office furniture production sector is the most competition-capable one composed by the following major companies that account for 80% of overall furniture market: Felix, Shatura, Solo, Unitex, Fronda and Kraft.