Malaysia: Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size in Malaysia

The Malaysian wooden office furniture market soared to $X in 2021, increasing by 35% against the previous year. The market value increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Wooden Office Furniture Production in Malaysia

In value terms, wooden office furniture production totaled $X in 2021 estimated in export price. In general, production, however, continues to indicate a pronounced decline. The pace of growth was the most pronounced in 2019 when the production volume increased by 33% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Wooden Office Furniture Exports

Exports from Malaysia

In 2021, shipments abroad of wooden furniture of a kind used in offices decreased by -30% to X units, falling for the third year in a row after three years of growth. In general, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2014 with an increase of 16% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, wooden office furniture exports declined rapidly to $X in 2021. Overall, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2014 with an increase of 13% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for wooden office furniture exports from Malaysia, accounting for a 50% share of total exports. Moreover, wooden office furniture exports to the United States exceeded the volume sent to the second major destination, Canada (X units), fourfold. The UK (X units) ranked third in terms of total exports with a 4.1% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-4.5% per year) and the UK (-8.0% per year).

In value terms, the United States ($X) remains the key foreign market for wooden furniture of a kind used in offices exports from Malaysia, comprising 49% of total exports. The second position in the ranking was taken by India ($X), with a 9.7% share of total exports. It was followed by Canada, with an 8.8% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-10.3% per year) and Canada (-8.5% per year).

Export Prices by Country

The average wooden office furniture export price stood at $X per unit in 2021, with an increase of 15% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by 18% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to the Philippines ($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 New Zealand (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Office Furniture Imports

Imports into Malaysia

In 2021, purchases abroad of wooden furniture of a kind used in offices increased by 171% to X units for the first time since 2018, thus ending a two-year declining trend. Overall, imports continue to indicate a moderate expansion. The most prominent rate of growth was recorded in 2013 with an increase of 221%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, wooden office furniture imports skyrocketed to $X in 2021. Over the period under review, imports posted a resilient increase. The most prominent rate of growth was recorded in 2015 when imports increased by 261%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of wooden office furniture to Malaysia, with a 80% share of total imports. Moreover, wooden office furniture imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-14.0% per year) and Indonesia (-10.4% per year).

In value terms, China ($X) constituted the largest supplier of wooden furniture of a kind used in offices to Malaysia, comprising 73% of total imports. The second position in the ranking was taken by Singapore ($X), with a 7.1% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+2.9% per year) and Indonesia (-1.1% per year).

Import Prices by Country

In 2021, the average wooden office furniture import price amounted to $X per unit, remaining stable against the previous year. In general, the import price, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2020 when the average import price increased by 62% against the previous year. As a result, import price attained the peak level of $X per unit, leveling off in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+19.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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