Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Malaysia - 2024
Contents:
- Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Malaysia (FOB) - 2022
- Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Malaysia (CIF) - 2022
- Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Malaysia
- Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Malaysia
Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Malaysia (FOB) - 2022
The average export price for furniture; wooden, other than for office, kitchen or bedroom use stood at $27 per unit in 2022, growing by 5.7% against the previous year. Over the period under review, the export price, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2020 an increase of 20%. Over the period under review, the average export prices hit record highs at $33 per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($96 per unit), while the average price for exports to France ($11 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+4.1%), 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 Malaysia (CIF) - 2022
In 2022, the average import price for furniture; wooden, other than for office, kitchen or bedroom use amounted to $22 per unit, growing by 34% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 44%. Over the period under review, average import prices reached the peak figure at $22 per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($23 per unit), while the price for India ($13 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Malaysia
Exports of furniture; wooden, other than for office, kitchen or bedroom use from Malaysia declined modestly to 28M units in 2022, leveling off at the previous year. Over the period under review, exports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2021 when exports increased by 3.6%. Over the period under review, the exports of attained the maximum at 33M units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
In value terms, exports of furniture; wooden, other than for office, kitchen or bedroom use expanded slightly to $736M in 2022. The total export value increased at an average annual rate of +2.6% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 6.5%. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 200 | 319 | 331 | 295 | 13.8% |
| Singapore | 89.2 | 57.8 | 82.8 | 112 | 7.9% |
| Japan | 96.6 | 61.5 | 83.8 | 90.3 | -2.2% |
| Australia | 32.2 | 17.7 | 15.1 | 22.9 | -10.7% |
| United Kingdom | 27.0 | 24.4 | 21.3 | 20.6 | -8.6% |
| Philippines | 19.7 | 9.2 | 9.3 | 20.4 | 1.2% |
| Saudi Arabia | 19.6 | 21.3 | 19.0 | 16.9 | -4.8% |
| Canada | 19.3 | 15.4 | 12.6 | 16.2 | -5.7% |
| United Arab Emirates | 14.1 | 13.5 | 13.8 | 15.7 | 3.6% |
| India | 21.0 | 9.1 | 13.3 | 11.7 | -17.7% |
| France | 9.4 | 7.8 | 6.5 | 5.0 | -19.0% |
| Others | 134 | 107 | 98.9 | 108 | -6.9% |
| Total | 681 | 664 | 707 | 736 | 2.6% |
Top Export Markets for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use from Malaysia in 2022:
- United States (13.8M units)
- Japan (5.2M units)
- Singapore (1.2M units)
- Australia (1.0M units)
- Philippines (0.9M units)
- United Kingdom (0.6M units)
- Canada (0.4M units)
- Saudi Arabia (0.4M units)
- United Arab Emirates (0.4M units)
- France (0.4M units)
- India (0.3M units)
Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Malaysia
Imports of furniture; wooden, other than for office, kitchen or bedroom use into Malaysia plummeted to 9.1M units in 2022, which is down by -21.4% against 2021 figures. Over the period under review, imports recorded a noticeable contraction. The pace of growth appeared the most rapid in 2021 with an increase of 63% against the previous year. As a result, imports reached the peak of 12M units, and then shrank rapidly in the following year.
In value terms, imports of furniture; wooden, other than for office, kitchen or bedroom use rose markedly to $203M in 2022. In general, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +12.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +46.5% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 39% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in years to come.
| Import of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 101 | 112 | 154 | 153 | 14.8% |
| Vietnam | 8.5 | 4.6 | 7.0 | 9.8 | 4.9% |
| Poland | 3.7 | 2.1 | 5.4 | 8.9 | 34.0% |
| Indonesia | 6.0 | 5.2 | 6.2 | 7.2 | 6.3% |
| Lithuania | 1.9 | 1.6 | 4.4 | 5.9 | 45.9% |
| Thailand | 4.9 | 3.4 | 2.8 | 2.8 | -17.0% |
| India | 4.4 | 1.6 | 1.6 | 2.4 | -18.3% |
| Others | 12.4 | 8.3 | 11.5 | 12.9 | 1.3% |
| Total | 143 | 139 | 192 | 203 | 12.4% |
Top Suppliers of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use to Malaysia in 2022:
- China (6.8M units)
- Vietnam (0.7M units)
- Poland (0.4M units)
- Indonesia (0.3M units)
- Lithuania (0.3M units)
- India (0.2M units)
- Thailand (0.2M units)
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