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Factoids

Factoids offer brief snapshots of current topics pertinent to the Furniture industry based on our on-going research. Increase your grasp of current trends, consumer attitudes, and shifts within the industry through solid statistics and concise insight.

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Factoids

Exports of Household Furniture by Country In Selected Years 2002 to 2017

In 2017, imports of household furniture rose 10.7 percent compared to only 3.8 percent growth in retail sales. The Great Recession, 2007 to 2009, brought with it a major collapse in international trade – deeply affecting both imports and exports of household furniture. In recent years, growing wages, higher employment, a boost in consumer confidence and a healthy housing market have propelled import growth. Meanwhile, exports have struggled to maintain the initial post-recession climb. This is the final factoid in a series of five factoids detailing U.S. imports and exports from 2002 to 2017.

Exports by Country

As previously detailed in this factoid series, the U.S. exports $1 in furniture products for every $10 in imported furniture. After rising over 45 percent from the recession (2009) to $3.4 billion in 2015, U.S. exports of household furniture have decreased by 7 percent in 2 years to $3.15 billion in 2017. Only three countries – Canada, Mexico, and China – represent more than 3 percent of U.S. imports. More than half (56.3 percent) of U.S. furniture exports is to Canada.

The U.S. trade deficit in household furniture grew an additional negative $3 billion dollars last year, from -$24.6 billion in 2016 to -$27.6 billion in 2017. U.S. imports continue to increase from China alongside a growing Vietnam wood manufacturing presence. A poor showing for U.S. exports over the past two years is also troubling. With threats of trade wars brewing, and the U.S.’s dependency on China for its household furniture, the industry does not want to get caught in the crosshairs.

Source: U.S. Census Bureau, Foreign Trade



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