Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in the UK - 2023
Contents:
- Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in the UK (CIF) - 2022
- Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in the UK (FOB) - 2022
- Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in the UK
- Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in the UK
Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in the UK (CIF) - 2022
In 2022, the average import price for furniture; wooden, other than for office, kitchen or bedroom use amounted to $118 per unit, jumping by 24% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The import price peaked 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 Vietnam ($119 per unit) and Lithuania ($119 per unit), while the price for the United States ($108 per unit) and China ($115 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+0.2%), 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 the UK (FOB) - 2022
The average export price for furniture; wooden, other than for office, kitchen or bedroom use stood at $75 per unit in 2022, shrinking by -19.3% against the previous year. In general, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for furniture; wooden, other than for office, kitchen or bedroom use decreased by -34.9% against 2019 indices. The growth pace was the most rapid in 2018 when the average export price increased by 49% against the previous year. Over the period under review, the average export prices attained the peak figure at $116 per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($75 per unit) and Ireland ($75 per unit), while the average price for exports to Italy ($75 per unit) and Spain ($75 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 Gambia (+1.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in the UK
In 2022, after three years of growth, there was significant decline in overseas purchases of furniture; wooden, other than for office, kitchen or bedroom use, when their volume decreased by -21.3% to 18M units. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 21%. As a result, imports reached the peak of 23M units, and then fell significantly in the following year.
In value terms, imports of furniture; wooden, other than for office, kitchen or bedroom use declined slightly to $2.1B in 2022. The total import value increased at an average annual rate of +3.1% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 28%. As a result, imports reached the peak of $2.2B, and then fell modestly in the following year.
| Import of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 496 | 463 | 759 | 630 | 8.3% |
| Vietnam | 266 | 187 | 241 | 247 | -2.4% |
| Poland | 161 | 144 | 140 | 215 | 10.1% |
| Lithuania | 106 | 90.0 | 121 | 149 | 12.0% |
| Italy | 84.1 | 61.4 | 79.3 | 118 | 12.0% |
| Germany | 89.3 | 80.1 | 70.3 | 69.4 | -8.1% |
| India | 43.0 | 34.1 | 59.3 | 60.9 | 12.3% |
| United States | 115 | 100 | 97.1 | 54.2 | -22.2% |
| Indonesia | 38.8 | 36.6 | 49.2 | 51.6 | 10.0% |
| Sweden | 22.4 | 21.7 | 39.3 | 49.2 | 30.0% |
| Spain | 20.8 | 19.3 | 30.7 | 41.4 | 25.8% |
| Turkey | 28.1 | 24.8 | 37.6 | 39.1 | 11.6% |
| France | 44.3 | 37.1 | 18.5 | 33.9 | -8.5% |
| Others | 406 | 388 | 422 | 346 | -5.2% |
| Total | 1,921 | 1,688 | 2,164 | 2,105 | 3.1% |
Top Suppliers of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use to the UK in 2022:
- China (5.5M units)
- Vietnam (2.1M units)
- Poland (1.8M units)
- Lithuania (1.3M units)
- Italy (1.0M units)
- Germany (0.6M units)
- India (0.5M units)
- United States (0.5M units)
- Indonesia (0.4M units)
- Sweden (0.4M units)
- Turkey (0.3M units)
- France (0.3M units)
- Spain (0.3M units)
Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in the UK
In 2022, exports of furniture; wooden, other than for office, kitchen or bedroom use from the UK soared to 3.5M units, picking up by 26% on 2021 figures. Overall, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +11.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +49.5% against 2020 indices. As a result, the exports attained the peak 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 totaled $261M in 2022. Over the period under review, exports, however, recorded a perceptible decrease. The growth pace was the most rapid in 2021 with an increase of 6.7%. The exports peaked at $289M in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
| Export of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 47.9 | 35.9 | 36.9 | 41.0 | -5.1% |
| France | 15.7 | 10.9 | 26.9 | 38.8 | 35.2% |
| Ireland | 67.3 | 62.0 | 39.1 | 34.3 | -20.1% |
| Germany | 20.7 | 26.8 | 21.4 | 13.2 | -13.9% |
| Netherlands | 11.1 | 10.0 | 10.0 | 9.5 | -5.1% |
| Japan | 5.7 | 4.4 | 7.1 | 6.8 | 6.1% |
| Italy | 6.6 | 5.9 | 8.4 | 6.7 | 0.5% |
| Spain | 5.3 | 6.9 | 5.1 | 6.0 | 4.2% |
| Switzerland | 7.3 | 5.5 | 7.3 | 5.8 | -7.4% |
| Ghana | 4.3 | 4.1 | 6.6 | 4.5 | 1.5% |
| United Arab Emirates | 4.1 | 2.2 | 5.5 | 4.5 | 3.2% |
| Gambia | 3.0 | 2.1 | 3.7 | 4.4 | 13.6% |
| Saudi Arabia | 4.7 | 2.4 | 2.1 | 4.3 | -2.9% |
| Others | 85.3 | 61.5 | 76.5 | 80.9 | -1.7% |
| Total | 289 | 241 | 257 | 261 | -3.3% |
Top Export Markets for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use from the UK in 2022:
- United States (543.4K units)
- France (514.7K units)
- Ireland (454.4K units)
- Germany (175.4K units)
- Netherlands (125.5K units)
- Japan (90.5K units)
- Italy (88.7K units)
- Spain (79.9K units)
- Switzerland (76.9K units)
- Ghana (60.2K units)
- United Arab Emirates (60.2K units)
- Gambia (57.8K units)
- Saudi Arabia (57.4K units)
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