After a tumultuous 2023, the first half of 2024 shows furniture imports on the upswing, while exports of U.S.-made products also made gains.

Countries doing business with the United States sent about $12.6 billion worth of household furniture to American suppliers, a 5% increase over the same period last year. To put it in context, however, that figure is still about 26% below the $17.1 billion in furniture imported in the first half of 2022.

Vietnam, which has held the No. 1 spot for a few years now, continues its leadership position at $4.4 billion in imports, which is up 19% over to the first six months of 2023.

Vietnam’s share of the total market is about 35%, while China, at No. 2 and $3.2 billion, has around 26% of the total market. China registered a modest gain, growing by 2%.

Vietnam and China still have a way to go, though, to match their 2022 first-half totals of more than $5.1 billion. In that year, just $2.5 million separated those countries.

Where there were declines
Among this year’s Top 10 sourcing countries for household furniture imports, five saw their totals decline year-over-year for the period: Mexico, Canada, Indonesia, India and Thailand.

As a result, Indonesia slipped to sixth place from fifth, and Thailand dropped to 10th, replaced by Cambodia, which saw its number rise by 16%.

This is big improvement over the numbers from the first half of 2023, when all countries except Canada declined between 16% (Mexico) and 39% (China).

Within the specific categories of household furniture shipped to the United States, miscellaneous wood furniture remained the largest sector, accounting for more than $2.7 billion. It saw a 5% increase year-over-year for the period. The largest share gainer was wood-frame upholstered seats, which grew by 16% to more than $2.1 billion.

Also up by double-digits were metal frame upholstered seats and wood kitchen furniture, which includes kitchen cabinets.

Three categories experienced a decline during the first six months: metal outdoor seats with textile cushions, down double digits; furniture of other materials; and wood dining tables.

Exports from the U.S.
Exports of household furniture from the United States to other countries rose by 10% In the first half of the year to more than $1.217 billion, which translates to a healthy gain over 2023 when exports were down 8%. In fact, the figure eclipses by $10 million its 2022 figure for the same period.

Canada remains the largest trading partner, with exports to America’s northern neighbor up 12% to more than $782 million. Mexico, which increased its total by 2%, is still a distant second at $92 million. Only the United Kingdom, which is the United States’ No. 3 customer, imported less in early 2024 than previously, down by 6%.

In contrast, the United States did much more business with several countries in the first half than in the same period the prior year, with Netherlands up 88%; Saudi Arabia, up 48%; and South Korea, up 37%. Germany, which bought 35% more, joined Netherlands and Saudi Arabia as returning countries to the Top 10 list.

The United Arab Emirates and Dominican Republic, meanwhile, exited the Top 10.

Across the board, the Top 10 product categories for U.S. exports saw increases vs. the same period in 2023.

Miscellaneous wood furniture remained the largest category at more than $217 million in exports, up 12%. The largest gainer was miscellaneous cane and bamboo furniture, up 22% to just less than $80 million.

Double-digits gains were also made in wood-frame upholstered seats, mattresses and wood bedroom furniture.

Among those countries with large percentage increases for the period, Netherlands focused its purchases on miscellaneous cane and bamboo furniture, miscellaneous wooden furniture and metal furniture.

Saudi Arabia, meanwhile, made its largest purchases in imported upholstered chairs with wood frames and metal frame upholstered seats.

Miscellaneous wood furniture was the largest category for South Korea at more than $2.2 million, or about 15% of its total.

Source: furnituretoday.com