Sluggish economy limits 1st-half import gain to 3%
By Brian Carroll -- Furniture Today, October 28, 2001
HIGH POINT — A sluggish U.S. economy put the brakes on furniture imports in the first six months of 2001, including shipments from offshore leader China.
After total furniture imports surged 22% in the first half of 2000 compared with 1999's first six months, this year's first half registered a relatively weak 3% gain to just over $6 billion.
All signs point to a further slowdown in imports — an economy mired in what a growing number of observers are calling a recession, the chilling effects of the Sept. 11 attacks, security-related delays in ports around the globe, and widespread overcapacity, including in China.
Unrest in such countries as Indonesia and the Philippines also could slow trade.
After dominating recent growth, China also dominated the deceleration. A year after showing a 40% six-month bulge, furniture imports from China grew by a relatively modest 16% in 2001's first half to $2.1 billion.
Still, China was one of only three countries in the Top 10 to show any growth at all, joined by No. 3 Italy (7%) and No. 6 Indonesia (6%). Even with No. 1 China's double-digit increase, the Top 10 inched ahead by only 2 percentage points in this year's first half compared to the 2000 period.
Bedroom furniture from China still is on a fast growth track, however, sprinting ahead another 41%. Where Chinese-made imports are declining are in seating categories, and across the board — wood chairs, outdoor, rattan, upholstery and rubber/ plastic.
Hurt by declining U.S. appetites for consumer goods were Thailand, which had been on an explosive growth track, and Mexico, which continued to diminish as a favorite U.S. source country.
A year after a 25% six-month surge on top of a 27% increase for all of 1999, No. 8 Thailand was flat at $117.5 million. And demand for furniture from No. 4 Mexico was down 11% in 2001's first half, compared to a 4% uptick a year ago. By contrast, in 1999, imports from Mexico grew 17%.
Taiwan, which once sent more than $1 billion a year in furniture to the United States, saw shipments drop nearly a quarter, the largest dip in the Top 10, to $326 million. Malaysia and the Philippines also saw double-digit decreases, while No. 2 Canada shipped 4% less over its border to total $1.1 billion. All major categories were down for Canada, including occasional furniture, bedroom and dining room.
Notable, however, was significant growth in imports from No. 11 Brazil and No. 12 France — 59% and 21%, respectively.
The popularity in the United States of French styling, both in solid-wood traditional and in contemporary, is reflected in the 42% increase for miscellaneous wood furniture, which includes occasional, the biggest import category for French-made furniture. The upholstery category also grew. Total imports from France rose by a fifth to $64.1 million in the first six months.
For Brazil, the story is increased interest in bedroom. Of the $65.3 million coming into the United States, over a third was bedroom furniture, a category which more than doubled for the South American country during 2001's first half. Miscellaneous wood furniture was the largest category at $21.2 million, a six-month increase of 17%.
The growing importance of Vietnam finally registered in the U.S. Department of Commerce numbers, with a nearly 700% increase over the same period a year ago. But the $301,000 import total reported by the department still seems low.
In product categories, dining was the most affected by the slowdown. Wood chairs, the fifth-largest import category, declined 15% to $254.6 million, while wood dining tables slid 22% to $123.6 million. Seating across all categories saw only modest growth or declines.
| 2001 | 2000 revised | % change from 2000 | |
|---|---|---|---|
| China | 2,073.4 | 1,780.6 | 16 |
| Canada | 1,103.8 | 1,145.7 | -4 |
| Italy | 614.1 | 576.5 | 7 |
| Mexico | 401.8 | 449.8 | -11 |
| Taiwan | 326.0 | 430.2 | -24 |
| Indonesia | 256.3 | 240.9 | 6 |
| Malaysia | 192.3 | 220.8 | -13 |
| Thailand | 117.5 | 117.3 | 0 |
| Philippines | 116.9 | 129.1 | -10 |
| United Kingdom | 69.8 | 76.8 | -9 |
| WORLD | $6,028.2 | $5,879.2 | 3% |
| Source: U.S. Customs Service, U.S. Census Bureau, U.S. International TradeCommission. | |||
| 2001 | 2000 revised | % change from 2000 | |
|---|---|---|---|
| Canada | 406.6 | 412.5 | -1 |
| Mexico | 117.1 | 141.4 | -17 |
| United Kingdom | 36.6 | 59.9 | -39 |
| Saudi Arabia | 34.6 | 24.3 | 42 |
| Japan | 30.0 | 48.3 | -38 |
| Germany | 11.1 | 10.4 | 7 |
| Venezuela | 8.3 | 5.3 | 59 |
| Kuwait | 8.0 | 6.3 | 27 |
| France | 6.3 | 6.9 | -9 |
| Netherlands | 6.1 | 4.1 | 50 |
| WORLD | $857.6 | $925.2 | -7% |
| Source: U.S. Customs Service, U.S. Census Bureau, U.S. International Trade Commission. | |||
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