The 54th China International Furniture Fair (Shanghai)
September 11-14, 2024

Shanghai Office Furniture Expo|A new trend in foreign trade! Spring has arrived in the furniture market!

2024-06-24 19:01:09

In recent years, with the recovery of the global economy and the increasing activity of international trade, the Chinese furniture industry has also shown a vigorous development trend. China is currently the world's largest furniture producer and exporter, with a scale exceeding one trillion yuan for three consecutive years.

China's furniture exports show a clear trend of recovery

Shanghai Office Furniture Expo got information that In 2023, the global furniture market production exceeded 500 billion US dollars, and China, as the main furniture producing country, accounted for over 35% of the global furniture production.

In recent years, the overall scale of China's furniture exports has also shown a steady growth trend year by year. Data shows that the export scale of Chinese furniture was only $1.106 billion in 1995, and increased to $64.196 billion by 2023, with a compound annual growth rate (CAGR) of 15.61%.

Affected by the epidemic and changes in international trade policies, China's furniture exports have been subject to certain fluctuations. After reaching a peak of 73.831 billion US dollars in 2021, there has been a continuous negative growth of 5%, but the annual export value still remains at over 60 billion US dollars.

Entering 2024, the export of furniture and its parts saw a significant year-on-year growth, showing impressive performance.

From January to February, the export value of furniture and its parts increased by 39.8% year-on-year to 84.694 billion yuan; In US dollars, exports increased by 36.1% year-on-year to 11.916 billion US dollars.

On the afternoon of March 26th, a data release from the State Council Information Office was equally inspiring. It is reported that in the first two months, the export of domestic brand products in China increased by 14.3%, which is 4 percentage points higher than the overall growth. Among them, the export of furniture increased by 60.7%.

What are the main exporting countries and categories?

Shanghai Office Furniture Expo got information that From a regional perspective, developed countries/regions such as the United States, Japan, and Europe are key export targets for furniture in China.

In 2023, the top four countries and regions for China's furniture product exports are the United States, the European Union, Japan, and the United Kingdom, accounting for approximately 50% of the total; Among them, the United States accounts for about 27% and is China's largest trading partner in furniture exports.

By category, finished furniture such as sofas, mattresses, and office supplies are the core export categories.

According to data from West China Securities Research Institute, the export scale of sofas, mattresses, and office supplies in 2023 exceeded 15 billion US dollars, 10 billion US dollars, and 3 billion US dollars respectively.

According to customs data, the export scale of sofas, mattresses, and office supplies in 2023 exceeded 15 billion US dollars, 10 billion US dollars, and 3 billion US dollars, respectively. The export performance of these categories reflects the advantages of China's furniture manufacturing industry in design, production, and supply chain management.