Cuba: Wooden Kitchen Furniture Market 2024

Wooden Kitchen Furniture Market Size in Cuba

In 2021, the Cuban wooden kitchen furniture market increased by 35% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption, however, saw a drastic downturn. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Wooden Kitchen Furniture Exports

Exports from Cuba

In 2021, overseas shipments of wooden furniture for kitchens increased by 16% to X units, rising for the second year in a row after three years of decline. In general, exports, however, recorded a slight curtailment. The growth pace was the most rapid in 2016 when exports increased by 3,761% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, wooden kitchen furniture exports soared to $X in 2021. Overall, exports continue to indicate a measured increase. The most prominent rate of growth was recorded in 2016 with an increase of 892% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Venezuela (X units) was the main destination for wooden kitchen furniture exports from Cuba, accounting for a 77% share of total exports. Moreover, wooden kitchen furniture exports to Venezuela exceeded the volume sent to the second major destination, Saint Vincent and the Grenadines (X units), ninefold. Angola (X units) ranked third in terms of total exports with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Venezuela totaled +7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saint Vincent and the Grenadines (0.0% per year) and Angola (-23.4% per year).

In value terms, Venezuela ($X) remains the key foreign market for wooden furniture for kitchens exports from Cuba, comprising 74% of total exports. The second position in the ranking was held by Saint Vincent and the Grenadines ($X), with a 12% share of total exports. It was followed by Spain, with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Venezuela totaled +17.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saint Vincent and the Grenadines (0.0% per year) and Spain (0.0% per year).

Export Prices by Country

In 2021, the average wooden kitchen furniture export price amounted to $X per unit, with an increase of 10% against the previous year. Overall, the export price recorded a tangible increase. The most prominent rate of growth was recorded in 2014 an increase of 698% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Spain ($X per unit), while the average price for exports to Angola ($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 (+9.0%), while the prices for the other major destinations experienced mixed trend patterns.

Wooden Kitchen Furniture Imports

Imports into Cuba

In 2021, purchases abroad of wooden furniture for kitchens increased by 29% to X units, rising for the second year in a row after two years of decline. In general, imports, however, showed a significant decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 108%. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, wooden kitchen furniture imports soared to $X in 2021. Overall, imports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 when imports increased by 116% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Brazil (X units), Canada (X units) and Spain (X units) were the main suppliers of wooden kitchen furniture imports to Cuba, with a combined 65% share of total imports. These countries were followed by Panama, France, Mexico, Germany and Italy, which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +13.5%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Brazil ($X) constituted the largest supplier of wooden furniture for kitchens to Cuba, comprising 41% of total imports. The second position in the ranking was taken by Canada ($X), with a 16% share of total imports. It was followed by France, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Brazil totaled +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-21.8% per year) and France (+19.7% per year).

Import Prices by Country

The average wooden kitchen furniture import price stood at $X per unit in 2021, surging by 8.4% against the previous year. In general, the import price posted a perceptible increase. The growth pace was the most rapid in 2018 when the average import price increased by 76% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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