U.S. exports decline 10%
By Brian Carroll -- Furniture Today, April 20, 2003
High Point — The huge furniture trade gap between the United States and the rest of the world got even bigger last year as U.S. shipments abroad dropped 10% to $1.5 billion, a figure less than 11% of imported furniture.
The decline follows a 16% drop in exports in 2001, and indicates the U.S. furniture manufacturing community has scant interest in marketing beyond North America.
Shipments to Canada and Mexico, the two top export markets, accounted for nearly 60% of all furniture exports last year. And they are diminishing markets for U.S.-made furniture.
No. 1 Canada received 8% less U.S. furniture in 2002 compared to 2001, or a total of $754 million. No. 2 Mexico bought 24% less U.S.-made furniture last year than in 2001 for a $146.4 million total. No other country took in more than $70 million of U.S. furniture.
Although four of the top five export markets showed decreases, No. 6 Korea more than doubled its intake of U.S. furniture in 2002.
Europe proved a mixed bag, with No. 3 United Kingdom registering a slight increase, but No. 10 Germany cutting its demand by nearly a third. Totals for Italy, Spain and Belgium were up. Those for France and the Netherlands were down.
The Middle East also showed no discernible trend. No. 5 Saudi Arabia took in 22% less furniture in 2002 compared to 2001, but Kuwait and Israel, Nos. 7 and 8, respectively, both bought more. Israel's demand more than tripled to $18.2 million. With figures this small, however, even a turnover in retail accounts as small as two or three dealers can affect substantially a country's total.
In product categories, the eight largest all registered declines in 2002, five of them showing double-digit decreases. Only wood furniture parts, the No. 9 category, showed an increase out of the 15 largest categories.
| U.S. furniture exports by major destination countries, Jan.–Dec. 2002 | |||
|---|---|---|---|
| in millions of dollars | |||
| 2002 | 2001 (revised) | % change from 2001 | |
|
Source: U.S. Customs Service, U.S. Census Bureau, U.S. International Trade Commission
|
|||
| Canada | $754.0 | $819.7 | -8% |
| Mexico | 146.4 | 193.8 | -24 |
| United Kingdom | 69.2 | 67.4 | 3 |
| Japan | 57.6 | 68.8 | -16 |
| Saudi Arabia | 52.5 | 67.3 | -22 |
| Korea | 23.0 | 10.1 | 127 |
| Kuwait | 19.0 | 15.0 | 26 |
| Israel | 18.2 | 5.1 | 254 |
| Venezuela | 15.0 | 17.7 | -15 |
| Germany | 14.6 | 20.4 | -29 |
| WORLD | $1,513.4 | $1,684.6 | -10% |
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