Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Italy - 2023

Contents:

1. Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Italy (FOB) - 2023
2. Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Italy (CIF) - 2023
3. Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Italy
4. Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Italy

Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Italy (FOB) - 2023

In November 2023, the average export price for furniture; wooden, other than for office, kitchen or bedroom use amounted to $113 per unit, increasing by 4.7% against the previous month. Over the period under review, the export price, however, recorded a mild descent. The pace of growth was the most pronounced in February 2023 when the average export price increased by 13% month-to-month. Over the period under review, the average export prices attained the peak figure at $126 per unit in December 2022; however, from January 2023 to November 2023, the export prices remained at a lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was China ($533 per unit), while the average price for exports to Ghana ($10.9 per unit) was amongst the lowest.

From December 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Israel (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Italy (CIF) - 2023

The average import price for furniture; wooden, other than for office, kitchen or bedroom use stood at $52.5 per unit in November 2023, shrinking by -12.6% against the previous month. In general, the import price recorded a slight curtailment. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 14% month-to-month. The import price peaked at $75.8 per unit in June 2023; however, from July 2023 to November 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Vietnam ($105 per unit), while the price for Ukraine ($37.2 per unit) was amongst the lowest.

From December 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Lithuania (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Italy

In 2022, approx. 22M units of furniture; wooden, other than for office, kitchen or bedroom use were exported from Italy; waning by -9.1% against the previous year's figure. Overall, exports saw a pronounced shrinkage. The growth pace was the most rapid in 2021 with an increase of 14%. As a result, the exports reached the peak of 24M units, and then shrank in the following year.

In value terms, exports of furniture; wooden, other than for office, kitchen or bedroom use shrank slightly to $2.3B in 2022. The total export value increased at an average annual rate of +4.0% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 20% against the previous year. As a result, the exports attained the peak of $2.3B, and then reduced in the following year.

Top Export Markets for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use from Italy in 2022:

1. United States (4.8M units)
2. France (3.0M units)
3. Germany (2.3M units)
4. Spain (1.7M units)
5. Poland (1.1M units)
6. United Kingdom (0.8M units)
7. Canada (0.7M units)
8. Switzerland (0.7M units)
9. Austria (0.5M units)
10. Belgium (0.5M units)
11. Turkey (0.4M units)
12. Israel (0.4M units)
13. Sweden (0.4M units)

Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Italy

For the fourth consecutive year, Italy recorded growth in supplies from abroad of furniture; wooden, other than for office, kitchen or bedroom use, which increased by 5.9% to 7.3M units in 2022. In general, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 83%. Over the period under review, imports of attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, imports of furniture; wooden, other than for office, kitchen or bedroom use rose significantly to $482M in 2022. The total import value increased at an average annual rate of +8.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 34% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in the near future.

Top Suppliers of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use to Italy in 2022:

1. Poland (2004.7K units)
2. Germany (1192.3K units)
3. Lithuania (977.3K units)
4. China (857.0K units)
5. Romania (304.4K units)
6. Sweden (253.2K units)
7. France (214.9K units)
8. Slovakia (184.1K units)
9. Spain (177.5K units)
10. Portugal (165.3K units)
11. Vietnam (149.1K units)
12. Austria (50.1K units)

Source: IndexBox Market Intelligence Platform