A Report by Centre for Industrial Studies (CSIL, Milano)
In the last ten years, world trade of furniture (defined as the average between total furniture exports from the 70 major countries and total furniture imports into the 70 major countries) has grown faster than furniture production and has consistently amounted to about 1% of world trade of manufactures.
World trade of furniture amounted to current US$ 94 billion in 2009 and grew in the following years to US$ 135 billion in 2014, then contracted in 2015 (mostly as a consequence of the depreciation of currencies of some major economies in relation to the US$) with no change in 2016.
Forecasts are subject to major uncertainties because of possible effects of Brexit and of international trade policies of the new US administration.
The bulk of international trade of furniture originates in China, Germany, Italy, Poland and Vietnam and goes to the US, Germany, the UK, France, and Canada.
A major new development is the decrease of Chinese furniture exports in 2016. The fastest growing furniture exporter (from a low base) is Vietnam. In the last five years, the increase of imports in the US (from US$ 23 billion in 2010 to about US$ 32 billion in 2016) was the main engine of growth in international trade of furniture.
The World Furniture Outlook report assumes that the international scenario will be as follows:
Total world furniture consumption (i.e. the aggregate of 70 countries) grew from US$345 billion in 2007 to a peak of US$364 billion in 2008, before decreasing as a consequence of the recession in 2009. Growth resumed in 2010.
Consumption rose above the pre-recession level in 2011 and, according to CSIL preliminary estimates, reached US$396 billion in 2016.
The following map shows the forecast for furniture consumption in 2017 for 70 countries.
Consumption is forecasted to grow by 2.7% in real terms worldwide. The fastest growing region continues to be Asia and Pacific, although growth in China is slowing down. Prospects for North America are more favourable than for Europe. South America remains in a phase of recession.
The World Furniture Outlook report contains data on furniture production, consumption and trade for 70 countries.
Preliminary estimates for 2016 and demand forecasts for 2017 and 2018 are also included.
The following countries are covered in the ’World Furniture Outlook’ report by CSIL (edition November 2016):
Algeria • Argentina • Australia • Austria • Bahrain • Belgium • Bosnia and Herzegovina • Brazil • Bulgaria • Canada • Chile • China • Colombia • Croatia • Cyprus • Czech Republic • Denmark • Egypt • Estonia • Finland • France • Germany • Greece • Hong Kong, China • Hungary • Iceland • India • Indonesia • Ireland • Israel • Italy • Japan • Kazakhstan • Kuwait • Latvia • Lebanon • Lithuania • Malaysia • Malta • Mexico • Morocco • Netherlands • New Zealand • Norway • Oman • Philippines • Poland • Portugal • Qatar • Romania • Russia • Saudi Arabia • Serbia • Singapore • Slovakia • Slovenia • South Africa • South Korea • Spain • Sweden • Switzerland • Taiwan • Thailand • Turkey • Ukraine • United Arab Emirates • United Kingdom • United States • Venezuela • Vietnam
For more information about CSIL report “World Furniture Outlook 2017” please contact: firstname.lastname@example.org
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