HIGH POINT — The 30% drop in household furniture imports coming to the United States for the first six months of 2023 is harsh reminder the industry has seen a major shift in just a year’s time.

For the period from January through June 2023, countries doing business with the United States exported about $12 billion in household furniture, down from around $17.1 billion in the same period in 2022.

To put it in even starker terms, the 2023 first-half figure is just 3% ahead of where things stood in 2019, when the world total for imports for the period was about $11.7 billion.

Individual countries within the top 10 took a double-digit hit, with the exception of Canada, which saw its export total for the period rise a modest 1%. That increase, in the face of other countries’ declines, moved it into the No. 4 slot from its previous sixth place.

Although down 17% compared with the same period a year ago, Italy was another benefactor of more significant decreases from others and thus moved up two spots to No. 5.

Among the nine countries with falling exports, Malaysia experienced the biggest change. Exports from Malaysia fell by 45% to $484.5 million vs. $878.9 million a year earlier. Malaysia has continued to drop down on the Top 10 list, falling to seventh after dropping to fourth from third place a year ago.

The top two countries — Vietnam and China — suffered losses of 28% and 39%, respectively.

Vietnam, with exports of $3.712 billion, continued to hold on to its top spot and even widened the gap with China ($3.166 billion) compared with the same period a year ago, when just $2.5 million separated the two.

No. 3 Mexico, which last year broke the $1 billion mark for the six-month period, slid below that benchmark this time with exports of $987 million.

A newcomer to the top exports to the United States is Cambodia at $155 million in exports, taking over the No. 10 position from Poland.

In the continuation of the significant change between 2022 and 2023, all of the Top 10 categories of household furniture products shipped to the United States declined by double digits for the six-month period, while in the same timeframe last year they were all up by between 3% and 39%.

Miscellaneous wood furniture remained the largest category, coming in with an export total of $2.6 billion. However, that was off from the January-to-June 2022 period by 28%. Wood frame upholstered chairs had the biggest loss, down 41% for the period.

At half-year mark, U.S. exports lag

Although down as well, the United States’ exports of household furniture fell by just 8% for the first six months of the year compared with the same period in 2022, coming in at nearly $1.106 billion vs. $1.207 billion.

There were also some gains within a few categories: Wood frame upholstered chairs were up 7%; metal frame upholstered seats, up 6%; and miscellaneous cane and bamboo furniture, up 10%.

Canada, at nearly $697 million, remains the top customer for U.S.-made products by a wide margin, accounting for nearly two-thirds (63%) of the world total.

No. 2 Mexico was one of five among the Top 10 that brought in more U.S. product in the first six months of 2023.

The biggest buyers, by percentage increase, were the Dominican Republic, up 61%; United Arab Emirates, up 49%; Mexico, up 16%; China, up 14%; and Bahamas, up 2%.

There were some notable changes in who is buying from the United States as well: Germany and Saudi Arabia, countries that appeared on 2022’s Top 10 list in the No. 8 and No. 10 spots, respectively, have been replaced by UAE and the Dominican Republic, which ranked seventh and 10th on this year’s roster.

Source: https://www.furnituretoday.com/