Cyprus: Wooden Office Furniture Market 2020

Wooden Office Furniture Market Size in Cyprus

The revenue of the wooden office furniture market in Cyprus amounted to $X in 2018, picking up by X% against the previous year. Over the period under review, wooden office furniture consumption continues to indicate an abrupt deduction. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the wooden office furniture market attained its maximum level at $X in 2008; however, from 2009 to 2018, consumption remained at a lower figure.

Wooden Office Furniture Production in Cyprus

In value terms, wooden office furniture production amounted to $X in 2018 estimated in export prices. Overall, wooden office furniture production continues to indicate a noticeable slump. The most prominent rate of growth was recorded in 2013 when production volume increased by X% year-to-year. Over the period under review, wooden office furniture production attained its maximum level at $X in 2008; however, from 2009 to 2018, production failed to regain its momentum.

Wooden Office Furniture Exports

Exports from Cyprus

In 2018, approx. X units of wooden furniture of a kind used in offices were exported from Cyprus; declining by -X% against the previous year. Overall, wooden office furniture exports continue to indicate a pronounced decline. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. In that year, wooden office furniture exports attained their peak of X units. From 2014 to 2018, the growth of wooden office furniture exports remained at a lower figure.

In value terms, wooden office furniture exports totaled $X in 2018. In general, wooden office furniture exports continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. In that year, wooden office furniture exports reached their peak of $X. From 2014 to 2018, the growth of wooden office furniture exports remained at a somewhat lower figure.

Exports by Country

In 2018, China (X units), distantly followed by Canada (X units), Poland (X units), Malaysia (X units), Germany (X units) and Lithuania (X units) represented the largest exporters of wooden furniture of a kind used in offices, together creating X% of total exports. Vietnam (X units), Italy (X units), the U.S. (X units), Sweden (X units), Turkey (X units) and the Czech Republic (X units) occupied a little share of total exports.

From 2007 to 2018, average annual rates of growth with regard to wooden office furniture exports from China stood at +X%. At the same time, Lithuania (+X%), Vietnam (+X%), Poland (+X%), the Czech Republic (+X%) and Canada (+X%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. Turkey experienced a relatively flat trend pattern. By contrast, Malaysia (-X%), the U.S. (-X%), Germany (-X%), Sweden (-X%) and Italy (-X%) illustrated a downward trend over the same period. While the share of Lithuania (+X p.p.), China (+X p.p.), Poland (+X p.p.), Vietnam (+X p.p.) and Canada (+X p.p.) increased significantly in terms of the global exports from 2007-2018, the share of the U.S. (-X p.p.), Sweden (-X p.p.), Germany (-X p.p.) and Italy (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest wooden office furniture supplier from Cyprus, comprising X% of global exports. The second position in the ranking was occupied by Canada ($X), with a X% share of global exports. It was followed by Germany, with a X% share.

In China, wooden office furniture exports increased at an average annual rate of +X% over the period from 2007-2018. In the other countries, the average annual rates were as follows: Canada (-X% per year) and Germany (-X% per year).

Export Prices by Country

The wooden office furniture export price in Cyprus stood at $X per unit in 2018, going up by X% against the previous year. Over the period under review, the wooden office furniture export price continues to indicate prominent growth. The most prominent rate of growth was recorded in 2018 when the export price increased by X% against the previous year. In that year, the export prices for wooden furniture of a kind used in offices reached their peak level and is likely to continue its growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was the U.S. ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the other leaders experienced more modest paces of growth.

Wooden Office Furniture Imports

Imports into Cyprus

Wooden office furniture imports into Cyprus totaled X units in 2018, increasing by X% against the previous year. In general, wooden office furniture imports, however, continue to indicate a deep drop. The pace of growth was the most pronounced in 2015 when imports increased by X% y-o-y. Over the period under review, wooden office furniture imports reached their maximum at X units in 2008; however, from 2009 to 2018, imports stood at a somewhat lower figure.

In value terms, wooden office furniture imports totaled $X in 2018. Over the period under review, wooden office furniture imports, however, continue to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2015 with an increase of X% y-o-y. Cyprus imports peaked at $X in 2008; however, from 2009 to 2018, imports remained at a lower figure.

Imports by Country

In 2018, the U.S. (X units) was the largest importer of wooden furniture of a kind used in offices, constituting X% of total imports. Saudi Arabia (X units) ranks second in terms of the total imports with a X% share, followed by Malaysia (X%) and the United Arab Emirates (X%). Germany (X units), France (X units), the UK (X units), South Korea (X units), Canada (X units), Australia (X units), the Netherlands (X units) and Russia (X units) followed a long way behind the leaders.

From 2007 to 2018, average annual rates of growth with regard to wooden office furniture imports into the U.S. stood at -X%. At the same time, Malaysia (+X%), Saudi Arabia (+X%), South Korea (+X%), the United Arab Emirates (+X%), Australia (+X%) and Germany (+X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. By contrast, Canada (-X%), the Netherlands (-X%), France (-X%), the UK (-X%) and Russia (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of Saudi Arabia, Malaysia and the United Arab Emirates increased by +X%, +X% and +X% percentage points, while Canada (-X p.p.), the Netherlands (-X p.p.), Russia (-X p.p.), France (-X p.p.), the UK (-X p.p.) and the U.S. (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported wooden furniture of a kind used in offices into Cyprus, comprising X% of global imports. The second position in the ranking was occupied by France ($X), with a X% share of global imports. It was followed by Germany, with a X% share.

In the U.S., wooden office furniture imports remained relatively stable over the period from 2007-2018. The remaining importing countries recorded the following average annual rates of imports growth: France (-X% per year) and Germany (+X% per year).

Import Prices by Country

The wooden office furniture import price in Cyprus stood at $X per unit in 2018, jumping by X% against the previous year. Over the period under review, the import price indicated a buoyant expansion from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, wooden office furniture import price increased by +X% against 2016 indices. The pace of growth was the most pronounced in 2012 when the import price increased by X% year-to-year. Cyprus import price peaked at $X per unit in 2015; however, from 2016 to 2018, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Canada ($X per unit), while Saudi Arabia ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Canada, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform