Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in South Korea - 2022
Contents:
- Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in South Korea (CIF) - 2022
- Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in South Korea (FOB) - 2022
- Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in South Korea
- Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in South Korea
Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in South Korea (CIF) - 2022
The average import price for furniture; wooden, other than for office, kitchen or bedroom use stood at $56 per unit in 2022, increasing by 5.9% against the previous year. In general, the import price, however, recorded a perceptible contraction. The most prominent rate of growth was recorded in 2015 an increase of 27% against the previous year. Over the period under review, average import prices reached the maximum at $86 per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($77 per unit), while the price for Malaysia ($40 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+0.8%), while the prices for the other major suppliers experienced a decline.
Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in South Korea (FOB) - 2022
The average export price for furniture; wooden, other than for office, kitchen or bedroom use stood at $43 per unit in 2022, with a decrease of -4.8% against the previous year. Overall, the export price showed a deep downturn. The growth pace was the most rapid in 2018 when the average export price increased by 53% against the previous year. Over the period under review, the average export prices hit record highs at $164 per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($111 per unit), while the average price for exports to Australia ($22 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-2.3%), while the prices for the other major destinations experienced a decline.
Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in South Korea
In 2022, supplies from abroad of furniture; wooden, other than for office, kitchen or bedroom use decreased by -15.9% to 6.2M units for the first time since 2018, thus ending a three-year rising trend. In general, imports showed a mild downturn. The growth pace was the most rapid in 2021 with an increase of 8.5%. As a result, imports reached the peak of 7.3M units, and then reduced notably in the following year.
In value terms, imports of furniture; wooden, other than for office, kitchen or bedroom use dropped to $345M in 2022. The total import value increased at an average annual rate of +6.7% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 22%. As a result, imports attained the peak of $387M, and then shrank in the following year.
| Import of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 157 | 201 | 267 | 246 | 16.1% |
| Vietnam | 37.4 | 38.2 | 35.4 | 23.8 | -14.0% |
| Italy | 16.2 | 14.1 | 17.7 | 19.5 | 6.4% |
| Indonesia | 21.3 | 22.2 | 21.7 | 14.6 | -11.8% |
| Malaysia | 8.9 | 10.0 | 6.5 | 5.3 | -15.9% |
| Others | 42.0 | 31.8 | 38.4 | 34.8 | -6.1% |
| Total | 283 | 317 | 387 | 345 | 6.8% |
Top Suppliers of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use to South Korea in 2022:
- China (4.9M units)
- Italy (0.3M units)
- Vietnam (0.3M units)
- Indonesia (0.2M units)
- Malaysia (0.1M units)
Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in South Korea
After three years of growth, shipments abroad of furniture; wooden, other than for office, kitchen or bedroom use decreased by -23% to 412K units in 2022. Over the period under review, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +12.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +41.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 39% against the previous year. As a result, the exports attained the peak of 535K units, and then declined remarkably in the following year.
In value terms, exports of furniture; wooden, other than for office, kitchen or bedroom use dropped sharply to $18M in 2022. In general, exports showed a deep setback. The growth pace was the most rapid in 2021 with an increase of 16% against the previous year. Over the period under review, the exports of attained the peak figure at $25M in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
| Export of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2.0 | 1.5 | 2.4 | 3.5 | 20.5% |
| Myanmar | N/A | N/A | N/A | 2.3 | 0% |
| Japan | 3.6 | 3.9 | 3.3 | 2.0 | -17.8% |
| Philippines | 3.6 | 3.1 | 3.1 | 1.8 | -20.6% |
| China | 2.8 | 2.2 | 3.6 | 1.5 | -18.8% |
| Canada | 0.3 | 0.6 | 2.8 | 1.4 | 67.1% |
| Guam | 4.8 | 1.9 | 1.5 | 0.9 | -42.8% |
| Hong Kong SAR | 0.5 | 0.4 | 1.1 | 0.8 | 17.0% |
| Taiwan (Chinese) | 1.2 | 0.7 | 0.8 | 0.6 | -20.6% |
| Iraq | N/A | 1.8 | N/A | 0.6 | -42.3% |
| Singapore | 0.7 | 0.5 | 0.9 | 0.4 | -17.0% |
| New Zealand | 0.1 | 0.3 | 0.7 | 0.3 | 44.2% |
| Australia | 1.1 | 0.6 | 0.4 | 0.2 | -43.3% |
| Others | 4.0 | 3.4 | 3.7 | 1.6 | -26.3% |
| Total | 24.8 | 21.0 | 24.2 | 17.8 | -10.5% |
Top Export Markets for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use from South Korea in 2022:
- Japan (55.5K units)
- Myanmar (51.2K units)
- Philippines (49.2K units)
- China (47.4K units)
- Guam (39.4K units)
- Canada (36.8K units)
- United States (31.8K units)
- Hong Kong SAR (13.7K units)
- Taiwan (Chinese) (12.9K units)
- Singapore (11.9K units)
- Iraq (11.8K units)
- Australia (10.2K units)
- New Zealand (8.5K units)
459
This report provides an in-depth analysis of the wooden office furniture market in Republic of Korea.
615
This report provides an in-depth analysis of the plastic furniture market in Republic of Korea.
444
This report provides an in-depth analysis of the metal office furniture market in Republic of Korea.
627
This report provides an in-depth analysis of the wooden bedroom furniture market in Republic of Korea.
395
This report provides an in-depth analysis of the wooden kitchen furniture market in Republic of Korea.
256
This report provides an in-depth analysis of the market for furniture of materials other than metal, wood or plastic in Republic of Korea.
311
This report provides an in-depth analysis of the metal domestic furniture market in Republic of Korea.
745
This report provides an in-depth analysis of the global wooden office furniture market.
472
Global Metal Furniture Market Report 2018. This report provides an in-depth analysis of the global metal furniture market.
1060
This report provides an in-depth analysis of the global plastic furniture market.
104
Global wooden office furniture market is projected to continue its upward consumption trend with an anticipated increase in volume and value. The market is forecasted to grow at a CAGR of +1.4% for the period 2023-2030, reaching 576M units and $60.8B in value by 2030.
112
Discover the top countries importing wooden office furniture and their import values. Explore the trends in the global market for wooden office furniture.
106
Explore the world's best import markets for metal office furniture and discover key statistics and insights. Learn about the top countries driving the global market.
1449
China dominates in the global office metal furniture trade. In 2014, China's exports amounted to X thousand tons or X million USD, X% over the previous year. Its primary trading partner was the U.S., where it supplied X% of its total metal fur
242
Explore the top import markets for metal domestic furniture based on Import Value data from IndexBox. Discover the countries with the highest import values and key statistics in the metal furniture industry.
376
Global trade volume of metal household furniture soared to $33B, reaching the highest level ever. The U.S. remains the key importer of metal furniture worldwide, accounting for 32% of total supplies in 2020.
747
In 2016, approx. X tons of metal furniture were imported worldwide- rising by X% against the previous year figure. In general, metal furniture imports continue to indicate a relatively flat trend ...
1317
The global trade in metal complete and assembled domestic furniture amounted to X million USD in 2015, fluctuating mildly over the period under review. Following a X% drop in 2009, exports showed robust growth for the next four years, until they
104
Global wooden office furniture market is projected to continue its upward consumption trend with an anticipated increase in volume and value. The market is forecasted to grow at a CAGR of +1.4% for the period 2023-2030, reaching 576M units and $60.8B in value by 2030.
112
Discover the top countries importing wooden office furniture and their import values. Explore the trends in the global market for wooden office furniture.
