Puerto Rico: Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size in Puerto Rico

The Puerto Rican wooden office furniture market declined remarkably to $X in 2021, shrinking by -16% against the previous year. Over the period under review, consumption showed a deep downturn. Puerto Rico consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Wooden Office Furniture Production in Puerto Rico

In value terms, wooden office furniture production shrank notably to $X in 2021 estimated in export price. Overall, production saw a deep reduction. The growth pace was the most rapid in 2020 when the production volume increased by 50% against the previous year. Puerto Rico production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Wooden Office Furniture Exports

Exports from Puerto Rico

Wooden office furniture exports from Puerto Rico was estimated at less than X units in 2021, therefore, remained relatively stable against the previous year's figure. Overall, exports saw a relatively flat trend pattern.

In value terms, wooden office furniture exports amounted to less than $X in 2021. Over the period under review, exports saw a relatively flat trend pattern.

Exports by Country

In 2021, China (X units) represented the largest exporter of wooden furniture of a kind used in offices, making up 42% of total exports. It was distantly followed by Canada (X units), Poland (X units) and Germany (X units), together comprising a 21% share of total exports. Italy (X units), Vietnam (X units), Lithuania (X units), Sweden (X units), Malaysia (X units), Portugal (X units), the United States (X units), Austria (X units) and Denmark (X units) took a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to wooden office furniture exports from China stood at +8.0%. At the same time, Vietnam (+18.5%), Portugal (+17.0%), Lithuania (+11.6%), Poland (+10.9%), Canada (+1.7%) and Germany (+1.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +18.5% from 2012-2021. By contrast, Denmark (-3.1%), Sweden (-3.3%), Austria (-6.4%), Italy (-7.0%), the United States (-8.9%) and Malaysia (-9.2%) illustrated a downward trend over the same period. China (+14 p.p.), Poland (+3.2 p.p.) and Vietnam (+2.2 p.p.) significantly strengthened its position in terms of the global exports, while Austria, Sweden, the United States, Malaysia and Italy saw its share reduced by -1.6%, -2%, -2.8%, -5.1% and -5.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest wooden office furniture supplier from Puerto Rico, comprising 32% of global exports. The second position in the ranking was held by Canada ($X), with an 8.5% share of global exports. It was followed by Poland, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +5.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Canada (-1.0% per year) and Poland (+10.8% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per thousand units, therefore, remained relatively stable against the previous year. Over the period under review, the export price showed a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per thousand units), while Malaysia ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.7%), while the other leaders experienced more modest paces of growth.

Wooden Office Furniture Imports

Imports into Puerto Rico

Wooden office furniture imports into Puerto Rico totaled less than X units in 2021, leveling off at 2020. Overall, imports showed a relatively flat trend pattern.

In value terms, wooden office furniture imports amounted to less than $X in 2021. Over the period under review, imports saw a relatively flat trend pattern.

Imports by Country

The United States was the key importing country with an import of about X units, which amounted to 40% of total imports. Germany (X units) held the second position in the ranking, followed by Canada (X units) and the UK (X units). All these countries together took approx. 15% share of total imports. South Korea (X units), France (X units), Switzerland (X units), Australia (X units), the Netherlands (X units), the Philippines (X units), the United Arab Emirates (X units) and Russia (X units) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to wooden office furniture imports into the United States stood at +16.5%. At the same time, the Philippines (+17.3%), the UK (+16.3%), the Netherlands (+15.6%), Germany (+11.9%), South Korea (+11.4%), Canada (+11.3%), Switzerland (+9.2%), France (+7.3%) and Australia (+3.1%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in the world, with a CAGR of +17.3% from 2012-2021. By contrast, Russia (-3.4%) and the United Arab Emirates (-5.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United States and the UK increased by +19 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported wooden furniture of a kind used in offices into Puerto Rico, comprising 24% of global imports. The second position in the ranking was held by Germany ($X), with a 7.3% share of global imports. It was followed by France, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value in the United States was relatively modest. In the other countries, the average annual rates were as follows: Germany (+6.5% per year) and France (+4.8% per year).

Import Prices by Country

The import price in Puerto Rico stood at less than $X per thousand units in 2021, remaining relatively unchanged against the previous year. In general, the import price saw a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($X per thousand units), while the Philippines ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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