Costa Rica: Wooden Bedroom Furniture Market 2024

Wooden Bedroom Furniture Market Size in Costa Rica

The Costa Rican wooden bedroom furniture market reduced to $X in 2022, shrinking by -10.3% against the previous year. The market value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Wooden Bedroom Furniture Production in Costa Rica

In value terms, wooden bedroom furniture production dropped to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 35% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Wooden Bedroom Furniture Exports

Exports from Costa Rica

In 2022, overseas shipments of wooden furniture of a kind used in the bedroom decreased by -8.1% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, continue to indicate strong growth. The growth pace was the most rapid in 2016 with an increase of 236% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, wooden bedroom furniture exports dropped significantly to $X in 2022. In general, exports, however, recorded a buoyant increase. The growth pace was the most rapid in 2016 with an increase of 187% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Nicaragua (X units), Panama (X units) and the United States (X units) were the main destinations of wooden bedroom furniture exports from Costa Rica, together accounting for 64% of total exports. China, Saint Lucia, Mexico, the Dominican Republic, the UK and El Salvador lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Dominican Republic (with a CAGR of +63.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wooden bedroom furniture exported from Costa Rica were Nicaragua ($X), Panama ($X) and the United States ($X), with a combined 72% share of total exports. China, Saint Lucia, the Dominican Republic, Mexico, the UK and El Salvador lagged somewhat behind, together accounting for a further 15%.

The Dominican Republic, with a CAGR of +47.3%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average wooden bedroom furniture export price stood at $X per unit in 2022, reducing by -10% against the previous year. In general, the export price recorded a pronounced curtailment. The growth pace was the most rapid in 2021 an increase of 31%. Over the period under review, the average export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Nicaragua ($X per unit), while the average price for exports to Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (+2.1%), while the prices for the other major destinations experienced a decline.

Wooden Bedroom Furniture Imports

Imports into Costa Rica

In 2022, wooden bedroom furniture imports into Costa Rica declined sharply to X units, falling by -30.1% against 2021. In general, imports, however, saw a strong increase. The growth pace was the most rapid in 2021 with an increase of 165%. As a result, imports attained the peak of X units, and then shrank remarkably in the following year.

In value terms, wooden bedroom furniture imports dropped rapidly to $X in 2022. Over the period under review, total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 101% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Brazil (X units), El Salvador (X units) and Vietnam (X units) were the main suppliers of wooden bedroom furniture imports to Costa Rica, with a combined 44% share of total imports. Italy, Malaysia, Colombia, the United States and China lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +31.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wooden bedroom furniture suppliers to Costa Rica were Brazil ($X), El Salvador ($X) and Vietnam ($X), with a combined 45% share of total imports. Colombia, Malaysia, China, Italy and the United States lagged somewhat behind, together accounting for a further 39%.

In terms of the main suppliers, Italy, with a CAGR of +20.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wooden bedroom furniture import price stood at $X per unit in 2022, increasing by 7.2% against the previous year. Over the period under review, the import price, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2014 when the average import price increased by 34% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (-0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform