FURNITURE SECTOR EXPORTS

FURNITURE SECTOR EXPORTS

In order to meet the basic social and cultural needs of people for daily life in a safe and comfortable way, functional, aesthetic-looking items of use, which are generally made of wood material, are called furniture. Furniture is an economically increasing sector in the world as it is used by the whole world. With the spread of green building projects, the demand for interior products is increasing due to the demand for furniture to be environmentally friendly. The furniture sector strengthens the amount of customers with retailing and this amount is aimed to increase.

World furniture production is approximately 473 billion dollars, 197 billion dollars of which is exports and 190 billion dollars of which is imports. World furniture trade is mainly carried out by developed and developing countries. Developed countries account for 26% of furniture exports. Increasing disposable incomes, changing lifestyles and technological innovations are among the most important factors affecting the growth in the world furniture industry. China accounts for one third of the world’s furniture exports. The remaining one-third belongs to members of the European Union. Germany, Poland and Italy are the leaders of the European Union. The table below shows the countries that export the most furniture with 94 binary GTIP codes all over the world.

Source: TradeMap
The furniture sector in Turkey is dominated by the traditional type of business, but the number of medium and large-scale furniture operators has increased in recent years. Of the 324,550,915 thousand dollars of world furniture exports, 1.47% of Turkey’s 4,788,354 thousand dollars of furniture exports. In the table below, you can see the export figures of the 10 countries to which Turkey exports the most furniture on a thousand dollar basis.

Source: TradeMap

Turkey has been exporting furniture to Iraq the most since 2009. One third of Turkey’s exports are to the EU and more than half of its imports are from the EU. Although this regional concentration in the sector is positive considering the characteristics of the EU market and consumers, it also reveals the need for market diversification (with alternative markets such as the USA) in terms of the long-term goals of the sector.

Source: TradeMap

In the table above, there are the 9 most exported chapters in Turkey with six GTIP codes. We can see that furniture exports are dominated by wooden furniture and the place of metal and plastic material furniture in exports.

It is seen that most of the furniture production in Turkey is realized for domestic market demand. However, the development of the furniture sector depends significantly on the size of furniture exports. By 2030, the size of the furniture sector is expected to be around 29 billion, with an average annual growth rate of nearly 10%. The share of the furniture sector in our exports is 2%. In 2021, although the target of the furniture sector for 2022 was 6 billion dollars, furniture exports increased by 20.8% to 8.44 billion dollars in 2022, breaking an all-time record.

As BM Foreign Trade Consultancy and Project Development, we provide Export Consultancy and Export Department services in the Furniture Sector and contribute to the companies operating in this sector both in increasing their sector experience and in increasing their export volumes. With our professional team that has gained experience in this sector, we lead the companies we consult to become leading brands in this sector. If you are operating in the Furniture Sector, if you want to start exporting or increase your existing exports, you can review our Export Consultancy and Autonomous Export Department services and contact us at our contact addresses.