Ecuador: Wooden Bedroom Furniture Market 2024

Wooden Bedroom Furniture Market Size in Ecuador

The Ecuadorian wooden bedroom furniture market fell to $X in 2022, shrinking by -5% against the previous year. In general, consumption showed a mild shrinkage. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Wooden Bedroom Furniture Production in Ecuador

In value terms, wooden bedroom furniture production reduced slightly to $X in 2022 estimated in export price. In general, production saw a noticeable descent. The most prominent rate of growth was recorded in 2013 when the production volume increased by 5.2% against the previous year. Wooden bedroom furniture production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Wooden Bedroom Furniture Exports

Exports from Ecuador

In 2022, overseas shipments of wooden furniture of a kind used in the bedroom decreased by -15.3% to X units for the first time since 2019, thus ending a two-year rising trend. In general, total exports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +24.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 42%. As a result, the exports attained the peak of X units, and then shrank markedly in the following year.

In value terms, wooden bedroom furniture exports declined sharply to $X in 2022. Over the period under review, total exports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +39.7% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 79%. As a result, the exports reached the peak of $X, and then shrank dramatically in the following year.

Exports by Country

The United States (X units) was the main destination for wooden bedroom furniture exports from Ecuador, with a 50% share of total exports. Moreover, wooden bedroom furniture exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X units), threefold. The third position in this ranking was taken by Peru (X units), with an 8.5% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +11.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+49.1% per year) and Peru (-8.7% per year).

In value terms, the United States ($X) remains the key foreign market for wooden furniture of a kind used in the bedroom exports from Ecuador, comprising 41% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 13% share of total exports. It was followed by Panama, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+45.0% per year) and Panama (-9.5% per year).

Export Prices by Country

The average wooden bedroom furniture export price stood at $X per unit in 2022, which is down by -8.1% against the previous year. In general, the export price recorded a slight descent. The most prominent rate of growth was recorded in 2021 an increase of 27%. Over the period under review, the average export prices reached the maximum at $X per unit in 2018; however, from 2019 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 Panama ($X per unit), while the average price for exports to Venezuela ($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 Panama (+2.6%), while the prices for the other major destinations experienced mixed trend patterns.

Wooden Bedroom Furniture Imports

Imports into Ecuador

In 2022, imports of wooden furniture of a kind used in the bedroom into Ecuador dropped significantly to X units, reducing by -19.6% on 2021. Overall, imports, however, recorded perceptible growth. The growth pace was the most rapid in 2017 when imports increased by 106% against the previous year. Imports peaked at X units in 2021, and then fell notably in the following year.

In value terms, wooden bedroom furniture imports declined rapidly to $X in 2022. In general, imports, however, continue to indicate a perceptible expansion. The most prominent rate of growth was recorded in 2021 with an increase of 100%. As a result, imports reached the peak of $X, and then reduced notably in the following year.

Imports by Country

In 2022, Brazil (X units) constituted the largest wooden bedroom furniture supplier to Ecuador, accounting for a 76% share of total imports. Moreover, wooden bedroom furniture imports from Brazil exceeded the figures recorded by the second-largest supplier, China (X units), tenfold. Colombia (X units) ranked third in terms of total imports with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil stood at +13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-10.1% per year) and Colombia (+0.5% per year).

In value terms, Brazil ($X) constituted the largest supplier of wooden furniture of a kind used in the bedroom to Ecuador, comprising 69% of total imports. The second position in the ranking was taken by China ($X), with a 12% share of total imports. It was followed by Colombia, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value from Brazil totaled +11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-6.4% per year) and Colombia (-0.5% per year).

Import Prices by Country

The average wooden bedroom furniture import price stood at $X per unit in 2022, falling by -6.7% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 16%. Over the period under review, average import prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 ($X per unit), while the price for Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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