Furniture exports register 7% decline
By Brian Carroll -- Furniture Today, October 28, 2001
HIGH POINT — After a year in the sun, U.S. furniture exports resumed their slide, dropping 7% for the first six months of this year compared to 2000's first half.
The $68 million dip to $858 million compares to a 13% gain for the comparable six-month period a year ago.
Half of the countries in the Top 10 registered decreased demand for U.S.-made furniture in this year's first two quarters, including No. 1 Canada (-1%), No. 2 Mexico (-17%) and No. 3 United Kingdom (-39%).
A bright spot — ironically so given recent world events — was the Middle East. Demand from No. 4 Saudi Arabia surged 42%, from No. 8 Kuwait 27%, from No. 16 United Arab Emirates 77%, and from No. 19 Israel 76%.
Especially significant was the more than $10 million gain in shipments to Saudi Arabia, which took in $34.6 million in U.S.-made furniture during the first half.
By far the largest exported category, miscellaneous wood furniture, comprised mainly of occasional, remained flat at $175 million, while several seating categories saw decreases. Wood bedroom, the sixth-largest export category, kept the overall decrease from being worse with a 22% improvement for the six months to finish at $54 million.
Perhaps worrisome for the industry long-term is growth in exports of furniture parts relative to finished goods. Already the third-largest category coming into 2001, miscellaneous furniture parts grew by 9% in the first half to total $115 million. Looking at the 10 leading export categories, parts of all kinds at $392 million accounted for more than half the $759 million total.
The trade gap between furniture imports and exports continued to widen. Exports of $858 million for 2001's first half were less than one-seventh the $6.03 billion total that came into the United States.
In addition to the Middle East, South America was a good market for U.S.-made furniture in 2001's first half. No. 7 Venezuela increased demand by 59% to $8 million. Colombia, Peru and Argentina also had sizable percentage gains.
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