Global outlook of world trade furniture for 2017

In the past decade, the world trade of furniture has grown faster than furniture production to amount about 1 percent of world trade of manufactures.

The current US$94 billion in 2009 and grew to US$ 135 billion in 2014 before contracting in 2015 with no change in 2016. Forecasts are subject to major uncertainties because of possible effects of Brexit and of international trade policies of the new US administration.

The bulk of international trade of furniture originates in China, Germany, Italy, Poland and Vietnam and goes to the US, Germany, the UK, France, and Canada.

A major new development is Vietnam as the fastest growing furniture exporter (from a low base) while Chinese furniture exports saw a decrease in 2016.

The main engine of growth in international trade of furniture in the last five years is the increase of imports in the US (from US$23 billion in 2010 to about US$32 billion in 2016).

In 2007, total world furniture consumption grew to US$345 billion, peaking at US$364 billion in 2008 before decreasing in 2009 and resuming again in 2010. Consumption rose above the pre-recession level in 2011 and, according to CSIL preliminary estimates, reached US$396 billion in 2016.

Consumption is forecasted to grow by 2.7% in real terms worldwide with the fastest growing region to be Asia and Pacific, although growth in China is slowing down. Prospects for North America are more favourable than for Europe and South America remains in a phase of recession.