Mexico: Metal Office Furniture Market 2024

Metal Office Furniture Market Size in Mexico

The Mexican metal office furniture market fell modestly to $X in 2022, which is down by -3.5% against the previous year. In general, consumption recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 6.8%. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Metal Office Furniture Production in Mexico

In value terms, metal office furniture production contracted modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a pronounced descent. The pace of growth was the most pronounced in 2016 when the production volume increased by 12% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Metal Office Furniture Exports

Exports from Mexico

In 2022, shipments abroad of metal office furniture increased by 19% to X tons for the first time since 2019, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when exports increased by 19% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, metal office furniture exports expanded rapidly to $X in 2022. The total export value increased at an average annual rate of +3.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when exports increased by 18% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

The United States (X tons) was the main destination for metal office furniture exports from Mexico, accounting for a approx. 99% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +1.7%.

In value terms, the United States ($X) also remains the key foreign market for metal office furniture exports from Mexico.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +3.5%.

Export Prices by Country

The average metal office furniture export price stood at $X per ton in 2022, falling by -5.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2021 an increase of 18%. As a result, the export price reached the peak level of $X per ton, and then dropped in the following year.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +1.8% per year.

Metal Office Furniture Imports

Imports into Mexico

In 2022, overseas purchases of metal office furniture increased by 16% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, imports, however, continue to indicate a abrupt descent. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, metal office furniture imports surged to $X in 2022. Over the period under review, imports, however, showed a deep downturn. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of metal office furniture to Mexico, with a 66% share of total imports. Moreover, metal office furniture imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), fourfold. The third position in this ranking was held by China (X tons), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to -5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-1.6% per year) and China (-11.3% per year).

In value terms, the United States ($X) constituted the largest supplier of metal office furniture to Mexico, comprising 66% of total imports. The second position in the ranking was taken by Canada ($X), with a 17% share of total imports. It was followed by China, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled -5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-1.6% per year) and China (-11.3% per year).

Import Prices by Country

In 2022, the average metal office furniture import price amounted to $X per ton, surging by 11% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per ton) and China ($X per ton), while the price for Canada ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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