Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in China - 2023

Contents:

1. Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in China (FOB) - 2023
2. Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in China (CIF) - 2023
3. Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in China
4. Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in China

Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in China (FOB) - 2023

The average export price for furniture; wooden, other than for office, kitchen or bedroom use stood at $43.2 per unit in December 2023, growing by 12% against the previous month. Overall, the export price, however, continues to indicate a slight descent. The export price peaked at $54.7 per unit in December 2022; however, from January 2023 to December 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In December 2023, the country with the highest price was Saudi Arabia ($73.2 per unit), while the average price for exports to the Netherlands ($20.9 per unit) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+1.9%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in China (CIF) - 2023

The average import price for furniture; wooden, other than for office, kitchen or bedroom use stood at $154 per unit in December 2023, increasing by 12% against the previous month. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in April 2023 an increase of 30% month-to-month. As a result, import price reached the peak level of $184 per unit. From May 2023 to December 2023, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Italy ($659 per unit), while the price for Poland ($41.3 per unit) was amongst the lowest.

From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Bosnia and Herzegovina (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in China

In 2022, overseas shipments of furniture; wooden, other than for office, kitchen or bedroom use decreased by -20.5% to 185M units for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +3.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 20%. As a result, the exports reached the peak of 232M units, and then shrank notably in the following year.

In value terms, exports of furniture; wooden, other than for office, kitchen or bedroom use contracted to $8.9B in 2022. The total export value increased at an average annual rate of +10.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 32% against the previous year. As a result, the exports reached the peak of $9.5B, and then fell in the following year.

Top Export Markets for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use from China in 2022:

1. United States (56.9M units)
2. Japan (15.2M units)
3. United Kingdom (10.6M units)
4. France (9.6M units)
5. Germany (9.5M units)
6. Australia (8.4M units)
7. Netherlands (7.5M units)
8. Canada (5.6M units)
9. South Korea (4.9M units)
10. Philippines (3.6M units)
11. Thailand (3.3M units)
12. Malaysia (3.2M units)
13. Saudi Arabia (3.1M units)

Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in China

For the third year in a row, China recorded decline in overseas purchases of furniture; wooden, other than for office, kitchen or bedroom use, which decreased by -47.3% to 1.8M units in 2022. Over the period under review, imports saw a sharp decrease. The smallest decline of -15.2% was in 2021. Over the period under review, imports of reached the peak figure at 4.9M units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of furniture; wooden, other than for office, kitchen or bedroom use reduced sharply to $259M in 2022. In general, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of 3.3%. Imports peaked at $399M in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Top Suppliers of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use to China in 2022:

1. Poland (595.6K units)
2. Vietnam (285.6K units)
3. Italy (164.4K units)
4. Lithuania (117.4K units)
5. Slovakia (91.2K units)
6. Malaysia (64.6K units)
7. Thailand (63.7K units)
8. Indonesia (63.1K units)
9. Germany (44.0K units)
10. Portugal (43.3K units)
11. Japan (37.8K units)

Source: IndexBox Market Intelligence Platform