by China shipped the most furniture to the US followed by Vietnam
RICHMOND, Va. — Furniture imports to the U.S. rose last year by 7.2%, with China, Vietnam and Mexico being the top exporters to the market, according to the latest import report by investment banking firm Mann, Armistead & Epperson.
Overall imports totaled $41.4 billion, compared to $38.6 billion in 2021.
This was a slowdown from 2021 when furniture shipments to the U.S. rose 26%. However, it also was more than double the 2.7% growth in furniture shipments to the U.S. between 2019 and 2020.
Despite a slight decrease, China shipped the most residential furniture to the U.S. market last year, the report noted. Its shipments totaled $13.3 billion, down 3.8% from the nearly $13.9 billion it shipped in 2021.
It was followed by Vietnam, whose shipments rose 6.85% to $10.7 billion, from just over $10 billion the year before. This signals improvements in container availability and a much improved flow of product following the reopening of plants that faced mandatory Covid-related closures in the summer of 2021.
However, interest in nearshoring remained a key factor in the success of Mexico’s and Canada’s furniture exports to the U.S. last year. Mexico’s shipments rose 29%, to $3.5 billion, from $2.7 billion in 2021, while Canada’s shipments rose 20.2% to $2.2 billion, from $1.8 billion in 2021. For many retailers faced with product shortages, the ability to receive product within several weeks from Mexico and Canada, versus several months from Asia, helped boost the numbers.
Next in order of importance to the U.S. market was Indonesia, whose shipments rose 17.4% to $1.85 billion from $1.6 billion, followed by Malaysia, whose shipments rose to $1.7 billion from $1.6 billion, a 9.3% increase
Italy shipped $1.5 billion in furniture to the U.S. market, up 22.3% from the $1.3 billion it shipped in 2021, while Taiwan’s shipments fell 8% to $875 million, from $951 million the year before.
India’s shipments rose 9.1%, from $782 million to $853 million, while Thailand’s shipments rose 18.8% to $798 million, from $672 million.
While India has become more important as a resource for mixed media and solid wood furniture, it has struggled to reach the level of Vietnam or even Mexico, Indonesia or even Malaysia. Between 2013 and 2017 its shipments have hovered between $246 million and $393 million, according to the report. It peaked at $853 million last year.
By comparison, Indonesia’s shipments more than tripled, from $601 million in 2013 to $1.85 billion, while Malaysia’s shipments rose from $601 million to $1.7 billion during the same period.
Meanwhile, furniture shipments from Vietnam to the U.S. market rose more than four and a half times, from $2.2 billion to $10.7 billion.
