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Home Furniture Industry Report -
Current Status and Prospect of China¡¯s Home Furniture Industry

.Analysis on Current Status of China¡¯s Home Furniture Exports
  • Furniture Industry Overview
  • There are currently about 50,000 furniture enterprises in China, which employ an army of more than 5 million workers. In 2007, the output value totaled at RMB 540 billion. China has now become the world¡¯s largest furniture exporter which sells furniture products to over 200 countries and regions. The US is still the number one importer of China¡¯s furniture products, with EU, Hong Kong, and Japan trailing behind.
  • Main Export Methods of Furniture Industry
  • In 2007, the total revenue of general trade exports reached USD 14.651 billion, accounting for 62.97% of the total, a year-on-year increase of 52.16%; processing trade with imported materials generated a total export revenue of USD 7.392 billion, about 31.77% of the total, up 11.6% over the previous year. What¡¯s especially worth noting is bonded warehousing re-export trade which went up an impressive 251.41% over a year before; and processing trade with customer's materials had experienced a negative growth.
  • The Structure of Export-oriented Enterprises in Furniture Industry
  • In 2007, the total export revenue of private enterprises was USD 6.678 billion, or 28.7% of the total, up 56.94%, the steepest growth ever recorded in the history. Foreign-funded enterprises generated a total export revenue of USD 13.359 billion, accounting for 57.4%, up 29.6%. State-owned enterprises held 3rd place in terms of growth rate, which made an export revenue of USD 2.724 billion, taking up 11.71%, up 21.82%. Export revenue by collectively-owned enterprise was USD 507 million or 2.18% of the total, a year-on-year increase of 18.83%. Private enterprises lagged behind foreign-funded enterprises in terms of total export revenue, but had a bigger growth rate. The development prospect is encouraging.
  • Historical Export Revenue of Home Furniture Industry
  • China¡¯s home furniture export has increased very rapidly. In 2007, the total export revenue was USD 11.41 billion, up 33% compared to that of 2006 which stood at USD 8.567 billion. From 2003 to 2007, the average annual growth rate reached 33.25%. The prospect of China¡¯s home furniture in overseas market is great.