Latin America and the Caribbean: Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size in Latin America and the Caribbean

The Latin American wooden office furniture market reached $X in 2021, increasing by 10% against the previous year. Overall, consumption, however, showed a perceptible setback. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Wooden Office Furniture Production in Latin America and the Caribbean

In value terms, wooden office furniture production stood at $X in 2021 estimated in export price. Overall, production, however, continues to indicate a noticeable setback. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Wooden Office Furniture Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of wooden furniture of a kind used in offices increased by 29% to X units, rising for the second year in a row after two years of decline. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +39.2% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 36% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, wooden office furniture exports surged to $X in 2021. The total export value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Brazil was the key exporter of wooden furniture of a kind used in offices in Latin America and the Caribbean, with the volume of exports finishing at X units, which was near 54% of total exports in 2021. Mexico (X units) ranks second in terms of the total exports with a 25% share, followed by Colombia (15%).

From 2012 to 2021, average annual rates of growth with regard to wooden office furniture exports from Brazil stood at +12.5%. At the same time, Colombia (+16.6%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +16.6% from 2012-2021. Mexico experienced a relatively flat trend pattern. While the share of Brazil (+21 p.p.) and Colombia (+8.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Mexico (-21.4 p.p.) displayed negative dynamics.

In value terms, Mexico ($X) remains the largest wooden office furniture supplier in Latin America and the Caribbean, comprising 58% of total exports. The second position in the ranking was held by Brazil ($X), with a 26% share of total exports.

In Mexico, wooden office furniture exports increased at an average annual rate of +1.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (+8.1% per year) and Colombia (+10.2% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, picking up by 11% against the previous year. In general, the export price, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2019 an increase of 13% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per unit), while Brazil ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+1.7%), while the other leaders experienced a decline in the export price figures.

Wooden Office Furniture Imports

Imports in Latin America and the Caribbean

In 2021, supplies from abroad of wooden furniture of a kind used in offices was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. In general, imports continue to indicate a measured increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, wooden office furniture imports surged to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Chile (X units), distantly followed by Mexico (X units), Cayman Islands (X units), Peru (X units), Colombia (X units) and Uruguay (X units) were the main importers of wooden furniture of a kind used in offices, together creating 72% of total imports. The following importers - Costa Rica (X units), Guatemala (X units), Panama (X units), Jamaica (X units), Brazil (X units) and Ecuador (X units) - together made up 16% of total imports.

From 2012 to 2021, the biggest increases were recorded for Cayman Islands (with a CAGR of +25.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wooden office furniture importing markets in Latin America and the Caribbean were Mexico ($X), Chile ($X) and Cayman Islands ($X), together comprising 56% of total imports.

Cayman Islands, with a CAGR of +19.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2021, dropping by -8.6% against the previous year. Over the period under review, the import price showed a noticeable curtailment. The pace of growth was the most pronounced in 2013 when the import price increased by 12% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Panama ($X per unit), while Peru ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ecuador (+4.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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