Market prospects for the world's furniture in 2016

Market prospects for the worlds furniture in 2016 hình5

 Market prospects for the world's furniture in 2016

With 455 billion dollars, the world's furniture sales in 2014 has increased 17 billion compared to the year 2013. Growth on world furniture consumption in 2015 estimated to reach 2.8%. According to the data of the Centre for Industrial Studies (CSIL), the forecast of global furniture demand in 2016 retains the 2.8% growth. 

 

 

Forecasting of consumption of furniture according to the geographical area in 2016

Market prospects for the worlds furniture in 2016 hình1

 

The world leader in furniture imports may be mentioned that the United States, Germany, France, Britain and Canada. In the past 5 years, with imports in 2009 was 19 billion dollars and 32 billion dollars in 2015, the United States is still the country contributing the most to the growth of world furniture trade. 

Furniture imports of some major importer period 2009-2015 (unit: USD)

Market prospects for the worlds furniture in 2016 hình2

 Source: UN, CSIL, Eurostat

The ratio between import and consumption increased from 29.3% in 2005 to 30.2% in 2008, then fell to 27.2% in 2009 and far lower than the period before the economic crisis . Countries exporting the most furniture include China, Germany, Italy, Poland and Vietnam; while the biggest importer is the United States, Germany, France, Britain and Canada.

Furniture export of some major exporting countries the period of 2009-2015 (unit: USD)

Market prospects for the worlds furniture in 2016 hình3

 

Within 10 years, the furniture trade world (measured by total export turnover of 70 major exporters and imports and the 70 major importing countries) have far exceeded the output of furniture and accounting 1% of total world trade. 

Table 1 - Forecasts of world GDP growth

  2015 2016 2017
The word 3,1 3,6 3,8
The developing economies 2,0 2,2 2,2
Emerging economies and developing countries 4,0 4,5 4,9

Source: World Economic Outlook, October 2015 - International Monetary Fund

Trade turnover of the world furniture reached 94 billion in 2009 (19% lower than in 2008) and then increased to reach 134 billion in 2014. If the world economic situation played out according to the forecasts mentioned in table 1, then the world furniture consumption could rise 1% in 2016, and 5% by 2017 

World furniture trade 2005-2017 (unit: USD)

Market prospects for the worlds furniture in 2016 hình4

Soure: CSIL

 

 SOURCE: http://www.vietrade.gov.vn/

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