Between January and September 2023, China's wood furniture exports dropped by 0.9% to 275.5 million pieces, with export value declining by 7.0% to $16.1 billion. The average price per piece also fell by 6.2% to $58.5.
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The U.S. remains the largest importer of China's wood furniture, accounting for 32% of its total exports, followed by Japan with 6.7%, the UK at 6.7%, and France at 4.9%.
Furniture Today reveals that Vietnam surpassed China as the leading furniture exporter to the U.S. last year. Vietnam's exports rose by 7% to nearly $9.7 billion last year. China's exports on the other hand fell by 7% to approximately $8.5 billion, reducing its market share to 28%.
Vietnam's export numbers for this year however appear to be decreasing as well. The Ministry of Industry and Trade reported a 33% decline in wood exports to the U.S., reaching $3.3 billion in the first half of this year.
Source: www.furnituretoday.com