Australia: Market for Furnishing Articles, Furniture and Cushion Covers 2024

Market Size for Furnishing Articles, Furniture and Cushion Covers in Australia

In 2022, after five years of growth, there was decline in the Australian market for furnishing articles, furniture and cushion covers, when its value decreased by X% to $X. Overall, consumption, however, recorded prominent growth. Over the period under review, the market reached the peak level at $X in 2021, and then shrank modestly in the following year.

Production of Furnishing Articles, Furniture and Cushion Covers in Australia

In value terms, production of furnishing articles, furniture and cushion covers contracted slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate prominent growth. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Over the period under review, production of attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Furnishing Articles, Furniture and Cushion Covers

Exports from Australia

In 2022, the amount of furnishing articles, furniture and cushion covers exported from Australia contracted remarkably to X tons, declining by X% compared with the previous year's figure. Over the period under review, exports, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then dropped remarkably in the following year.

In value terms, exports of furnishing articles, furniture and cushion covers shrank to $X in 2022. In general, exports, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then contracted in the following year.

Exports by Country

New Zealand (X tons), the United States (X tons) and the Philippines (X tons) were the main destinations of exports of furnishing articles, furniture and cushion covers from Australia, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), the United States ($X) and the UK ($X) appeared to be the largest markets for furnishing article, furniture and cushion cover exported from Australia worldwide, together accounting for X% of total exports. The Philippines, Singapore and Thailand lagged somewhat behind, together accounting for a further X%.

The Philippines, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for furnishing articles, furniture and cushion covers stood at $X per ton in 2022, picking up by X% against the previous year. In general, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 an increase of X%. The export price peaked at $X per ton in 2018; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (X%), while the prices for the other major destinations experienced a decline.

Imports of Furnishing Articles, Furniture and Cushion Covers

Imports into Australia

In 2022, after two years of growth, there was significant decline in supplies from abroad of furnishing articles, furniture and cushion covers, when their volume decreased by X% to X tons. Overall, imports saw a noticeable curtailment. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of furnishing articles, furniture and cushion covers reduced to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of furnishing article, furniture and cushion cover to Australia, with a X% share of total imports. Moreover, imports of furnishing articles, furniture and cushion covers from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Thailand (X% per year).

In value terms, China ($X) constituted the largest supplier of furnishing articles, furniture and cushion covers to Australia, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Thailand (X% per year).

Import Prices by Country

The average import price for furnishing articles, furniture and cushion covers stood at $X per ton in 2022, flattening at the previous year. Overall, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of X% 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 furnishing articles, furniture and cushion covers increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when the average import price increased by X%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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