Colombia: Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size in Colombia

The Colombian wooden office furniture market surged to $X in 2021, increasing by 19% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Wooden office furniture consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Wooden Office Furniture Production in Colombia

In value terms, wooden office furniture production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by 23%. Wooden office furniture production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Wooden Office Furniture Exports

Exports from Colombia

In 2021, shipments abroad of wooden furniture of a kind used in offices increased by 22% to X units, rising for the sixth consecutive year after three years of decline. In general, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 150% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, wooden office furniture exports soared to $X in 2021. Over the period under review, exports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 95% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

The United States (X units), Chile (X units) and Panama (X units) were the main destinations of wooden office furniture exports from Colombia, together comprising 61% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +35.0%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for wooden furniture of a kind used in offices exports from Colombia, comprising 45% of total exports. The second position in the ranking was held by Chile ($X), with a 14% share of total exports. It was followed by Peru, with a 6% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +26.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+24.5% per year) and Peru (-1.8% per year).

Export Prices by Country

The average wooden office furniture export price stood at $X per unit in 2021, approximately mirroring the previous year. Overall, the export price saw a abrupt downturn. The pace of growth was the most pronounced in 2015 an increase of 21% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Venezuela ($X per unit), while the average price for exports to Panama ($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 Venezuela (+1.7%), while the prices for the other major destinations experienced a decline.

Wooden Office Furniture Imports

Imports into Colombia

In 2021, overseas purchases of wooden furniture of a kind used in offices were finally on the rise to reach X units after two years of decline. Over the period under review, imports, however, saw a noticeable contraction. The pace of growth was the most pronounced in 2018 with an increase of 171%. As a result, imports reached the peak of X units. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, wooden office furniture imports skyrocketed to $X in 2021. Overall, imports, however, saw a mild decrease. The most prominent rate of growth was recorded in 2018 with an increase of 153% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of wooden office furniture to Colombia, accounting for a 76% share of total imports. Moreover, wooden office furniture imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X units), sevenfold. Denmark (X units) ranked third in terms of total imports with a 6% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+41.7% per year) and Denmark (+3.4% per year).

In value terms, China ($X) constituted the largest supplier of wooden furniture of a kind used in offices to Colombia, comprising 63% of total imports. The second position in the ranking was taken by Brazil ($X), with an 11% share of total imports. It was followed by the United States, with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+49.1% per year) and the United States (-15.3% per year).

Import Prices by Country

The average wooden office furniture import price stood at $X per unit in 2021, waning by -35.4% against the previous year. Overall, the import price, however, showed modest growth. The growth pace was the most rapid in 2016 an increase of 110%. As a result, import price reached the peak level of $X per unit. From 2017 to 2021, the average import prices remained at a lower figure.

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 the United States ($X per unit), while the price for Denmark ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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