Southern Asia: Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size in Southern Asia

In 2021, the South Asian wooden office furniture market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, showed a slight downturn. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Wooden Office Furniture Production in Southern Asia

In value terms, wooden office furniture production expanded rapidly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +5.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 31% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Wooden Office Furniture Exports

Exports in Southern Asia

In 2021, the amount of wooden furniture of a kind used in offices exported in Southern Asia declined modestly to X units, which is down by -2% on 2020 figures. In general, exports, however, continue to indicate a moderate increase. The pace of growth was the most pronounced in 2017 with an increase of 111% against the previous year. Over the period under review, the exports attained the maximum at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, wooden office furniture exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

India prevails in exports structure, accounting for X units, which was near 86% of total exports in 2021. It was distantly followed by Sri Lanka (X units), committing a 9.4% share of total exports. Pakistan (X units) took a little share of total exports.

Exports from India increased at an average annual rate of +2.7% from 2012 to 2021. At the same time, Pakistan (+10.6%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +10.6% from 2012-2021. By contrast, Sri Lanka (-1.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of India increased by +2.1 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest wooden office furniture supplier in Southern Asia, comprising 96% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a 2.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value in India stood at +16.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Sri Lanka (-0.9% per year) and Pakistan (+9.4% per year).

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per unit, jumping by 49% against the previous year. Overall, the export price continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2020 an increase of 155% against the previous year. Over the period under review, the export prices reached the maximum in 2021 and is likely to continue growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+13.8%), while the other leaders experienced mixed trends in the export price figures.

Wooden Office Furniture Imports

Imports in Southern Asia

In 2021, overseas purchases of wooden furniture of a kind used in offices decreased by -14.9% to X units, falling for the fourth consecutive year after two years of growth. In general, imports recorded a perceptible decrease. The growth pace was the most rapid in 2017 with an increase of 47%. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, wooden office furniture imports fell to $X in 2021. Over the period under review, imports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2017 when imports increased by 26% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

India prevails in imports structure, recording X units, which was near 85% of total imports in 2021. It was distantly followed by Nepal (X units), comprising a 6.4% share of total imports. The following importers - Pakistan (X units), Bangladesh (X units) and Maldives (X units) - together made up 8% of total imports.

From 2012 to 2021, average annual rates of growth with regard to wooden office furniture imports into India stood at -1.7%. At the same time, Nepal (+14.6%) and Maldives (+2.9%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +14.6% from 2012-2021. By contrast, Pakistan (-2.7%) and Bangladesh (-10.0%) illustrated a downward trend over the same period. Nepal (+4.8 p.p.) and India (+3.2 p.p.) significantly strengthened its position in terms of the total imports, while Bangladesh saw its share reduced by -3.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported wooden furniture of a kind used in offices in Southern Asia, comprising 86% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 5.9% share of total imports. It was followed by Nepal, with a 4% share.

From 2012 to 2021, the average annual growth rate of value in India amounted to -9.6%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (-0.3% per year) and Nepal (+7.5% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per unit, surging by 5.7% against the previous year. Over the period under review, the import price, however, saw a deep reduction. The most prominent rate of growth was recorded in 2013 when the import price increased by 9.5%. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Bangladesh ($X per unit), while Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+10.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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