Singapore: Wooden Bedroom Furniture Market 2024

Wooden Bedroom Furniture Market Size in Singapore

In 2022, the Singaporean wooden bedroom furniture market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Wooden bedroom furniture consumption peaked in 2022 and is likely to see gradual growth in years to come.

Wooden Bedroom Furniture Production in Singapore

In value terms, wooden bedroom furniture production expanded to $X in 2022 estimated in export price. Overall, production enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2013 with an increase of X%. Wooden bedroom furniture production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Wooden Bedroom Furniture Exports

Exports from Singapore

In 2022, overseas shipments of wooden furniture of a kind used in the bedroom were finally on the rise to reach X units after two years of decline. In general, exports, however, recorded a abrupt slump. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, wooden bedroom furniture exports surged to $X in 2022. Overall, exports, however, saw a abrupt slump. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The UK (X units) was the main destination for wooden bedroom furniture exports from Singapore, with a X% share of total exports. Moreover, wooden bedroom furniture exports to the UK exceeded the volume sent to the second major destination, Malaysia (X units), threefold. The third position in this ranking was taken by Bangladesh (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Bangladesh (X% per year).

In value terms, the UK ($X) emerged as the key foreign market for wooden furniture of a kind used in the bedroom exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with an X% share of total exports. It was followed by Bangladesh, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Bangladesh (X% per year).

Export Prices by Country

The average wooden bedroom furniture export price stood at $X per unit in 2022, therefore, remained relatively stable against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Indonesia ($X 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 UK (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Bedroom Furniture Imports

Imports into Singapore

In 2022, purchases abroad of wooden furniture of a kind used in the bedroom increased by X% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports, however, continue to indicate a perceptible contraction. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, wooden bedroom furniture imports soared to $X in 2022. In general, imports, however, showed a noticeable downturn. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Malaysia (X units), China (X units) and Italy (X units) were the main suppliers of wooden bedroom furniture imports to Singapore, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Malaysia ($X), China ($X) and Italy ($X) constituted the largest wooden bedroom furniture suppliers to Singapore, together comprising X% of total imports.

In terms of the main suppliers, Italy, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average wooden bedroom furniture import price stood at $X per unit in 2022, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 an increase of X%. 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 Poland ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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