Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Sri Lanka - 2022
Contents:
- Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Sri Lanka (CIF) - 2022
- Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Sri Lanka (FOB) - 2022
- Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Sri Lanka
- Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Sri Lanka
Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Sri Lanka (CIF) - 2022
In 2022, the average import price for furniture; wooden, other than for office, kitchen or bedroom use amounted to $97 per unit, surging by 23% against the previous year. In general, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for furniture; wooden, other than for office, kitchen or bedroom use increased by +90.1% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 54% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($672 per unit), while the price for Austria ($13 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+8.5%), 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 Sri Lanka (FOB) - 2022
The average export price for furniture; wooden, other than for office, kitchen or bedroom use stood at $60 per unit in 2022, increasing by 63% against the previous year. In general, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The export price peaked at $85 per unit in 2018; however, from 2019 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 the United States ($127 per unit), while the average price for exports to Sweden ($8.4 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 United States (+10.1%), 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 Sri Lanka
In 2022, imports of furniture; wooden, other than for office, kitchen or bedroom use into Sri Lanka rose modestly to 186K units, growing by 2% against the previous year. Over the period under review, imports enjoyed a significant increase. The pace of growth was the most pronounced in 2021 when imports increased by 247% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of furniture; wooden, other than for office, kitchen or bedroom use soared to $18M in 2022. Overall, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 435% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are likely to see steady growth in years to come.
| Import of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 243 | 726 | 5,115 | 7,727 | 216.8% |
| China | 2,255 | 1,109 | 3,676 | 5,584 | 35.3% |
| Ireland | 733 | 350 | 2,567 | 1,698 | 32.3% |
| Spain | 1.4 | 0.3 | 187 | 486 | 602.8% |
| India | 491 | 65.4 | 286 | 310 | -14.2% |
| Japan | 43.3 | 27.9 | 177 | 269 | 83.8% |
| Malaysia | 185 | 49.2 | 151 | 253 | 11.0% |
| France | 0.7 | 6.8 | 361 | 200 | 558.6% |
| Indonesia | 260 | 61.7 | 57.1 | 174 | -12.5% |
| Austria | 89.7 | 12.6 | 92.4 | 61.1 | -12.0% |
| Singapore | 372 | 0.5 | 3.1 | 11.4 | -68.7% |
| Others | 1,886 | 280 | 1,722 | 1,356 | -10.4% |
| Total | 6,561 | 2,690 | 14,396 | 18,129 | 40.3% |
Top Suppliers of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use to Sri Lanka in 2022:
- China (90.2K units)
- Ireland (30.0K units)
- Spain (11.7K units)
- Vietnam (11.5K units)
- France (6.9K units)
- Malaysia (6.4K units)
- Indonesia (5.4K units)
- Austria (4.8K units)
- Japan (3.2K units)
- India (1.9K units)
- Singapore (0.6K units)
Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Sri Lanka
In 2022, the amount of furniture; wooden, other than for office, kitchen or bedroom use exported from Sri Lanka shrank dramatically to 84K units, waning by -39% against the previous year's figure. Over the period under review, exports, however, posted a pronounced expansion. The growth pace was the most rapid in 2021 with an increase of 112% against the previous year. As a result, the exports attained the peak of 138K units, and then reduced rapidly in the following year.
In value terms, exports of furniture; wooden, other than for office, kitchen or bedroom use dropped slightly to $5.1M in 2022. Overall, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +6.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.3% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 63% against the previous year. As a result, the exports reached the peak of $5.1M, leveling off in the following year.
| Export of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Sri Lanka (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 2,395 | 1,798 | 3,696 | 3,573 | 14.3% |
| United States | 145 | 198 | 236 | 336 | 32.3% |
| Maldives | 438 | 167 | 146 | 233 | -19.0% |
| Australia | 66.9 | 70.6 | 37.9 | 143 | 28.8% |
| United Kingdom | 282 | 99.1 | 79.7 | 20.8 | -58.1% |
| Sweden | 33.1 | 23.3 | 16.7 | 13.5 | -25.8% |
| Others | 865 | 757 | 857 | 732 | -5.4% |
| Total | 4,226 | 3,112 | 5,069 | 5,050 | 6.1% |
Top Export Markets for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use from Sri Lanka in 2022:
- India (68.1K units)
- Maldives (4.5K units)
- United States (2.6K units)
- Sweden (1.6K units)
- Australia (1.4K units)
- United Kingdom (0.2K units)
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