Russian Federation: Wooden Bedroom Furniture Market 2024

Wooden Bedroom Furniture Market Size in the Russian Federation

The Russian wooden bedroom furniture market dropped to $X in 2022, shrinking by -11.2% against the previous year. Overall, consumption showed a mild decline. Wooden bedroom furniture consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Wooden Bedroom Furniture Production in the Russian Federation

In value terms, wooden bedroom furniture production shrank to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 58%. Wooden bedroom furniture production peaked at $X in 2021, and then declined in the following year.

Wooden Bedroom Furniture Exports

Exports from the Russian Federation

In 2022, after three years of growth, there was significant decline in shipments abroad of wooden furniture of a kind used in the bedroom, when their volume decreased by -5.5% to X units. Over the period under review, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 53% against the previous year. The exports peaked at X units in 2021, and then contracted in the following year.

In value terms, wooden bedroom furniture exports reduced to $X in 2022. In general, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 43% against the previous year. The exports peaked at $X in 2021, and then declined in the following year.

Exports by Country

Germany (X units), Kazakhstan (X units) and Poland (X units) were the main destinations of wooden bedroom furniture exports from Russia, with a combined 61% share of total exports. Belarus, Ukraine, Uzbekistan, the Netherlands, the United States, Kyrgyzstan and Azerbaijan lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Uzbekistan (with a CAGR of +169.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wooden bedroom furniture exported from Russia were Germany ($X), Kazakhstan ($X) and Poland ($X), with a combined 62% share of total exports. Belarus, Uzbekistan, Ukraine, the Netherlands, Kyrgyzstan, Azerbaijan and the United States lagged somewhat behind, together accounting for a further 22%.

In terms of the main countries of destination, Uzbekistan, with a CAGR of +200.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average wooden bedroom furniture export price amounted to $X per unit, shrinking by -9.4% against the previous year. Over the period under review, the export price saw a noticeable contraction. The pace of growth appeared the most rapid in 2021 when the average export price increased by 30%. The export price peaked at $X per unit in 2012; however, from 2013 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 Uzbekistan ($X per unit), while the average price for exports to the United States ($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 Germany (+13.8%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Bedroom Furniture Imports

Imports into the Russian Federation

In 2022, supplies from abroad of wooden furniture of a kind used in the bedroom increased by 5.3% to X units, rising for the third consecutive year after two years of decline. In general, imports, however, faced a abrupt decline. The growth pace was the most rapid in 2017 with an increase of 155% against the previous year. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, wooden bedroom furniture imports declined to $X in 2022. Over the period under review, imports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2017 with an increase of 85%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Italy (X units) constituted the largest supplier of wooden bedroom furniture to Russia, with a 35% share of total imports. Moreover, wooden bedroom furniture imports from Italy exceeded the figures recorded by the second-largest supplier, Turkey (X units), sixfold. The third position in this ranking was held by China (X units), with a 2.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy stood at -13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-4.5% per year) and China (-23.0% per year).

In value terms, Italy ($X) constituted the largest supplier of wooden furniture of a kind used in the bedroom to Russia, comprising 34% of total imports. The second position in the ranking was held by Turkey ($X), with a 5.4% share of total imports. It was followed by China, with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy stood at -15.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-6.9% per year) and China (-23.1% per year).

Import Prices by Country

In 2022, the average wooden bedroom furniture import price amounted to $X per unit, waning by -14.9% against the previous year. Overall, the import price continues to indicate a noticeable curtailment. The growth pace was the most rapid in 2018 an increase of 34% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2019; however, from 2020 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 ($X per unit), while the price for Germany ($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 (-0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :