China: Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size in China

For the third year in a row, the Chinese wooden office furniture market recorded decline in sales value, which decreased by -1.7% to $X in 2021. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Wooden Office Furniture Production in China

In value terms, wooden office furniture production amounted to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 14% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Wooden Office Furniture Exports

Exports from China

In 2021, the amount of wooden furniture of a kind used in offices exported from China skyrocketed to X units, picking up by 15% against 2020. Over the period under review, total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +58.5% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 40% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, wooden office furniture exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +5.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for wooden office furniture exports from China, with a 39% share of total exports. Moreover, wooden office furniture exports to the United States exceeded the volume sent to the second major destination, Japan (X units), fourfold. The UK (X units) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+10.3% per year) and the UK (+28.5% per year).

In value terms, the United States ($X) remains the key foreign market for wooden furniture of a kind used in offices exports from China, comprising 41% of total exports. The second position in the ranking was held by Japan ($X), with a 10% share of total exports. It was followed by the UK, with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+9.1% per year) and the UK (+12.2% per year).

Export Prices by Country

In 2021, the average wooden office furniture export price amounted to $X per unit, growing by 3.6% against the previous year. Overall, the export price, however, continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2016 an increase of 16%. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to France ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+14.8%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Office Furniture Imports

Imports into China

In 2021, approx. X units of wooden furniture of a kind used in offices were imported into China; reducing by -43.9% on the year before. Over the period under review, imports showed a abrupt slump. The growth pace was the most rapid in 2014 with an increase of 30% against the previous year. Over the period under review, imports reached the peak figure at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, wooden office furniture imports contracted rapidly to $X in 2021. Overall, imports recorded a perceptible reduction. The pace of growth appeared the most rapid in 2014 with an increase of 32%. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Poland (X units) constituted the largest supplier of wooden office furniture to China, with a 54% share of total imports. Moreover, wooden office furniture imports from Poland exceeded the figures recorded by the second-largest supplier, Lithuania (X units), threefold. The third position in this ranking was taken by Italy (X units), with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Poland totaled +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+11.5% per year) and Italy (-2.3% per year).

In value terms, Poland ($X) constituted the largest supplier of wooden furniture of a kind used in offices to China, comprising 33% of total imports. The second position in the ranking was held by Italy ($X), with an 11% share of total imports. It was followed by Lithuania, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Poland amounted to +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-0.8% per year) and Lithuania (+13.0% per year).

Import Prices by Country

In 2021, the average wooden office furniture import price amounted to $X per unit, rising by 29% against the previous year. Over the last nine years, it increased at an average annual rate of +2.5%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Portugal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+29.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :