- Time of issue:2019-07-26 00:00:00
Analysis on the market prospect of international furniture industry
According to the information provided by CSIL, the outlook of international furniture industry production and trade in 2013 is as follows:
According to CSIL's research, the total output value of global furniture in 2013 will be up to 422 billion US dollars. This estimate comes from domestic and international official data, including 70 major furniture producing countries. The total value of furniture output of the seven major developed countries, the United States, Italy, Germany, Japan, France, Canada and the United Kingdom, is about 134 billion US dollars, accounting for 45% of the global total value of furniture, while developing countries account for 55% of the rest. In 2010, the value of furniture output of developing countries exceeded half of the global value for the first time, and now it is on a higher level.
International Furniture Trade
In 2013, the main furniture importing countries are the United States, Germany, France, the United Kingdom and Canada; the main furniture exporting countries are China, Germany, Italy, Poland and the United States.
Between 2002 and 2007, imports from the United States increased significantly, from $17 billion (translated into current prices) to $26 billion, while those from the United Kingdom rose from $4.3 billion to $8.6 billion. Countries such as France, Germany and Canada have also seen significant increases in their imports.
The U.S. economic recession has a great impact on furniture imports. In 2007, the U.S. imported furniture reached 26 billion US dollars, down to 24 billion US dollars in 2008, down to 19 billion US dollars in 2009, slightly recovered in 2010 and 2011, and rebounded to 23 billion US dollars in 2011.
The openness of international furniture trade is further increased
The most important structural change in the past decade has been the increasing openness of the international furniture market. Openness is defined as imports / consumption. In 2002, the openness of the international furniture market was 26%, but in 2007 it rose to 30.6%. In 2008 and 2009, due to the global economic recession, the openness of the international furniture market declined, lower than the maximum before the recession.
Global economic outlook
CSIL's research report believes that the performance of the global economy as a whole will be as shown in Table 1.
Table 1 annual change of global GDP (%)
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