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

Contents:

1. Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Japan (CIF) - 2022
2. Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Japan (FOB) - 2022
3. Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Japan
4. Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Japan

Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Japan (CIF) - 2022

The average import price for furniture; wooden, other than for office, kitchen or bedroom use stood at $102 per unit in 2022, increasing by 13% against the previous year. In general, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for furniture; wooden, other than for office, kitchen or bedroom use increased by +17.6% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by 64% against the previous year. Over the period under review, average import prices attained the maximum at $127 per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Thailand ($102 per unit) and Vietnam ($102 per unit), while the price for Taiwan (Chinese) ($102 per unit) and Malaysia ($102 per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Japan (FOB) - 2022

The average export price for furniture; wooden, other than for office, kitchen or bedroom use stood at $57 per unit in 2022, which is down by -3.2% against the previous year. In general, the export price recorded a mild descent. The pace of growth appeared the most rapid in 2018 when the average export price increased by 50%. As a result, the export price attained the peak level of $97 per unit. From 2019 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the UK ($57 per unit) and Australia ($57 per unit), while the average price for exports to Thailand ($57 per unit) and South Korea ($57 per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (-1.8%), while the prices for the other major destinations experienced a decline.

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

In 2022, after three years of growth, there was significant decline in supplies from abroad of furniture; wooden, other than for office, kitchen or bedroom use, when their volume decreased by -14.1% to 11M units. The total import volume increased at an average annual rate of +2.7% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2020 when imports increased by 25%. Imports peaked at 13M units in 2021, and then declined in the following year.

In value terms, imports of furniture; wooden, other than for office, kitchen or bedroom use fell modestly to $1.2B in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 5.3% against the previous year. As a result, imports reached the peak of $1.2B, and then reduced modestly in the following year.

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

1. China (5.0M units)
2. Vietnam (2.5M units)
3. Malaysia (1.0M units)
4. Indonesia (0.9M units)
5. Taiwan (Chinese) (0.4M units)
6. Philippines (0.4M units)
7. Thailand (0.3M units)

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

In 2022, exports of furniture; wooden, other than for office, kitchen or bedroom use from Japan was estimated at 458K units, increasing by 9.9% on 2021. In general, total exports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +13.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +46.1% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 33%. Over the period under review, the exports of hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, exports of furniture; wooden, other than for office, kitchen or bedroom use rose remarkably to $26M in 2022. The total export value increased at an average annual rate of +9.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 29%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

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

1. China (128.7K units)
2. Philippines (63.0K units)
3. Hong Kong SAR (51.9K units)
4. United States (44.1K units)
5. Thailand (30.8K units)
6. Taiwan (Chinese) (30.5K units)
7. South Korea (22.5K units)

Source: IndexBox Market Intelligence Platform