Furniture imports down 19.2% in first quarter
PIERS tracks container shipments
Tom Russell -- Furniture Today, July 29, 2009
NEWARK, N.J. — Containerized shipments of furniture in the first quarter were down 19.2% from a year earlier, according to PIERS Global Intelligence Solutions, which tracks shipping traffic.The drop is expected to continue through the rest of the year, essentially reversing a gain in imports seen in 2008, according to the organization.
PIERS, which stands for Port Import Export Reporting Service, looks at inbound containerized shipments of residential and contract furniture. The figures also include furniture hardware and fixtures.
According to its first quarter analysis, inbound containerized shipments of furniture fell more than 87,000 TEUs, or 20-foot equivalent container units.
Based on these results, PIERS predicts that overall container shipments this year will be down 16.5% from 2008, to 1,452,574 TEUs. The 2009 estimate also represents a 27% drop from a peak of 1,990,071 TEUs of furniture imported in 2005.
PIERS figures are based on U.S. Customs Automated Manifest Systems data from all U.S. ports, said Beth Adams, PIERS marketing director.
According to PIERS research, China represented 62.4% of furniture shipments to the U.S in 2008, making it the largest source country. It was followed by Vietnam (7.9%), Malaysia (4.6%), Taiwan (3.3%) and Indonesia (2.4%) All other countries represented a collective 19.4% of furniture shipments to the U.S.
Based on PIERS estimates, China will likely remain the largest source country for the U.S. in 2009, with 63.5% of shipments. Vietnam also will gain ground, with 8.3% of shipments, as will Malaysia with 4.5% of the total.
PIERS also predicts that U.S. furniture exports will decline 19.9% in 2009. This compares to the 7.1% growth PIERS reported in 2008 U.S. furniture exports.
China was the top market last year for U.S. exports, at 6.1% of the total. Saudi Arabia was next at 4.8%, followed by India at 4.4%, Japan at 4.35% and the United Kingdom at 4%.
While overall exports are expected to drop in 2009, PIERS predicts China's appetite for U.S. furniture will grow on a percentage basis. The report said it will account for 7.6% of furniture exports, followed by Japan at 6.6%.
To access the full report, visit http://www.piers.com/furnituresnapshot/.
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Finally some good news for both N American producers and consumers.
benny salami - 2009-29-7 20:31:52 EDT
