Nepal: Wooden Bedroom Furniture Market 2024

Wooden Bedroom Furniture Market Size in Nepal

The Nepalese wooden bedroom furniture market rose rapidly to $X in 2022, increasing by 12% against the previous year. In general, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -7.9% against 2020 indices. Wooden bedroom furniture consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Wooden Bedroom Furniture Production in Nepal

In value terms, wooden bedroom furniture production totaled $X in 2022 estimated in export price. Overall, production recorded a moderate expansion. The most prominent rate of growth was recorded in 2020 with an increase of 67%. Wooden bedroom furniture production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Wooden Bedroom Furniture Exports

Exports from Nepal

In 2022, exports of wooden furniture of a kind used in the bedroom from Nepal skyrocketed to X units, rising by 96% against the year before. Over the period under review, exports recorded a strong expansion. The growth pace was the most rapid in 2020 with an increase of 757%. Over the period under review, the exports reached the peak figure at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, wooden bedroom furniture exports soared to $X in 2022. In general, exports recorded a prominent expansion. The pace of growth appeared the most rapid in 2020 with an increase of 784%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for wooden bedroom furniture exports from Nepal, accounting for a 84% share of total exports. Moreover, wooden bedroom furniture exports to the United States exceeded the volume sent to the second major destination, Canada (X units), sixfold. Switzerland (X units) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +49.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+35.8% per year) and Switzerland (-7.4% per year).

In value terms, the United States ($X) emerged as the key foreign market for wooden furniture of a kind used in the bedroom exports from Nepal, comprising 76% of total exports. The second position in the ranking was held by Canada ($X), with a 19% share of total exports. It was followed by Switzerland, with a 3.7% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +40.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+48.3% per year) and Switzerland (-1.6% per year).

Export Prices by Country

In 2022, the average wooden bedroom furniture export price amounted to $X per unit, which is down by -4.6% against the previous year. Overall, export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wooden bedroom furniture export price increased by +6.1% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 48% against the previous year. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to China ($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 Canada (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Bedroom Furniture Imports

Imports into Nepal

In 2022, supplies from abroad of wooden furniture of a kind used in the bedroom increased by 34% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports continue to indicate a significant expansion. The growth pace was the most rapid in 2018 with an increase of 570%. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, wooden bedroom furniture imports reduced dramatically to $X in 2022. In general, imports saw a significant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 450%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, India (X units) was the main wooden bedroom furniture supplier to Nepal, accounting for a 92% share of total imports. Moreover, wooden bedroom furniture imports from India exceeded the figures recorded by the second-largest supplier, China (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from India totaled +34.4%.

In value terms, India ($X) and China ($X) constituted the largest wooden bedroom furniture suppliers to Nepal.

India, with a CAGR of +29.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

In 2022, the average wooden bedroom furniture import price amounted to $X per unit, dropping by -45.9% against the previous year. In general, the import price saw a abrupt decrease. The most prominent rate of growth was recorded in 2017 an increase of 84% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for India amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-2.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform