Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Australia - 2024
Contents:
- Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Australia (CIF) - 2022
- Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Australia (FOB) - 2022
- Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Australia
- Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Australia
Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Australia (CIF) - 2022
In 2022, the average import price for furniture; wooden, other than for office, kitchen or bedroom use amounted to $67 per unit, surging by 20% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($144 per unit), while the price for Malaysia ($44 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Australia (FOB) - 2022
In 2022, the average export price for furniture; wooden, other than for office, kitchen or bedroom use amounted to $69 per unit, flattening at the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 50%. As a result, the export price reached the peak level of $97 per unit. From 2019 to 2022, the average export prices failed to regain momentum.
Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Saudi Arabia ($69 per unit) and China ($69 per unit), while the average price for exports to the Philippines ($69 per unit) and Papua New Guinea ($69 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Tonga (+0.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Australia
In 2022, supplies from abroad of furniture; wooden, other than for office, kitchen or bedroom use decreased by -12.3% to 10M units for the first time since 2018, thus ending a three-year rising trend. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 7.3%. As a result, imports attained the peak of 12M units, and then declined in the following year.
In value terms, imports of furniture; wooden, other than for office, kitchen or bedroom use rose markedly to $694M in 2022. The total import value increased at an average annual rate of +9.8% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 27%. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in years to come.
| Import of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 320 | 334 | 447 | 430 | 10.4% |
| Vietnam | 76.3 | 77.9 | 80.7 | 101 | 9.8% |
| Indonesia | 24.3 | 24.6 | 36.4 | 41.8 | 19.8% |
| India | 14.8 | 16.5 | 27.8 | 28.2 | 24.0% |
| Malaysia | 12.8 | 15.9 | 15.2 | 21.8 | 19.4% |
| Others | 76.8 | 49.8 | 54.5 | 71.8 | -2.2% |
| Total | 525 | 519 | 661 | 694 | 9.7% |
Top Suppliers of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use to Australia in 2022:
- China (8.0M units)
- Vietnam (0.7M units)
- Malaysia (0.5M units)
- Indonesia (0.3M units)
- India (0.2M units)
Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Australia
In 2022, shipments abroad of furniture; wooden, other than for office, kitchen or bedroom use increased by 64% to 159K units for the first time since 2019, thus ending a two-year declining trend. In general, total exports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +6.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of furniture; wooden, other than for office, kitchen or bedroom use soared to $11M in 2022. Overall, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +9.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +78.7% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 4,514 | 2,589 | 2,332 | 5,037 | 3.7% |
| United States | 511 | 409 | 856 | 1,032 | 26.4% |
| Senegal | N/A | N/A | N/A | 936 | 0% |
| Saudi Arabia | 2.1 | 20.8 | 3.8 | 713 | 597.6% |
| China | 336 | 739 | 182 | 421 | 7.8% |
| Fiji | 300 | 223 | 287 | 263 | -4.3% |
| Tonga | 360 | 337 | 334 | 258 | -10.5% |
| Singapore | 216 | 283 | 214 | 256 | 5.8% |
| Hong Kong SAR | 145 | 249 | 177 | 221 | 15.1% |
| United Kingdom | 187 | 177 | 216 | 203 | 2.8% |
| Vanuatu | 92.5 | 105 | 140 | 199 | 29.1% |
| Papua New Guinea | 370 | 135 | 138 | 158 | -24.7% |
| Italy | 23.6 | 2.3 | 579 | 14.4 | -15.2% |
| Others | 1,290 | 844 | 1,181 | 1,213 | -2.0% |
| Total | 8,347 | 6,114 | 6,638 | 10,925 | 9.4% |
Top Export Markets for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use from Australia in 2022:
- New Zealand (73.2K units)
- United States (15.0K units)
- Senegal (13.6K units)
- Saudi Arabia (10.4K units)
- China (6.1K units)
- Tonga (3.8K units)
- Fiji (3.8K units)
- Singapore (3.7K units)
- Hong Kong SAR (3.2K units)
- United Kingdom (3.0K units)
- Vanuatu (2.9K units)
- Papua New Guinea (2.3K units)
- Italy (0.2K units)
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