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Development of Metal furniture manufacturing in China

 

Though wooden furniture takes up the biggest portion in the total furniture export value, the metal furniture manufacturing industry in China has developed rapidly in recent years. In the five years through 2012, industry revenue has been growing at an annualized rate of 14.5% to tatal $20.5 billion.

 

Industry revenue growth slowed in 2009 due to weaker foreign and domestic demand stemming from the global recession. The industry returned to strong growth, however, with revenue jumping 20.9% in 2010 and 9.6% in 2011. Solid growth is expected to continue through 2012, with revenue increasing 11.0%.

 

International trade plays an important role in this industry’s development. In 2004, China surpassed Italy to become the world’s largest furniture exporter. Although wooden furniture contributes the most revenue to total furniture export values from China, metal furniture exports have increased at a faster rate since 2004. Over the past five years. Exports peaked at 36.9% of industry revenue in 2008. Competing imports have made up less than 0.5% of domestic demand in recent years.

 

In the five years through 2017, industry revenue is forecast to grow 9.0% annually to reach $31.6 billion. Several major export markets like the United States have been raising anti-dumping concerns regarding developing domestic ones. Exports as a share of industry revenue are projected to increase to 29.2% by 2017, up from 24.9% in 2012.

 

Therefore, metal furniture manufacturing in China are expected to keep developing rapidly.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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