According to Chinese customs statistics, in the first half of 2023, China's wooden furniture exports were US$11.5 billion, a 12% decrease from the same period in 2022.
China's wooden furniture is exported to more than 200 countries, with scattered destinations. The proportion of China's wood furniture exports to the top ten destination countries accounts for nearly 70% of total exports.
The United States remains China's largest wooden furniture export market, with exports to the United States accounting for approximately 30% of the country's total wooden furniture exports. In the first half of 2023, China's wooden furniture exports to the United States fell by 14% to US$3.322 billion, which directly affected the overall export performance.
The decline in China's wooden furniture exports in the first half of the year was also affected by the declining financial health of furniture manufacturing companies. It is understood that in the first half of 2023, the operating income of furniture manufacturing enterprises (annual main business revenue of more than 20 million yuan) totaled 289.82 billion yuan, a 10% decrease from the same period in 2022. Total profit was 13.2 billion yuan, down 2%.