Source: Dayang Net - Guangzhou Daily

Shunde Export Furniture Trends

According to statistics from the Foshan Customs Sub-office in Shunde, from January to May 2016, Shunde exported furniture and its parts worth 3.44 billion RMB, an increase of 17% compared to the same period last year. Looking at the monthly data within the year, Shunde's furniture exports showed a fluctuating upward trend. After the export value dipped to 380 million RMB in February, it rose repeatedly. In May alone, exports reached 950 million RMB, increasing by 53.2% year-on-year and 65.8% month-on-month, creating a new high for Shunde's furniture exports in 2016, accounting for 6.4% of Shunde's total foreign trade imports and exports in May.

Main Characteristics

Main characteristics of Shunde furniture exports this year

1. General trade export methods account for more than half, while processing trade export methods are declining. In May 2016, Shunde exported 510 million RMB worth of furniture through general trade methods, a decrease of 15.1%, accounting for 53.1% of the total value of Shunde furniture exports during the same period. During the same period, processing trade exports amounted to 20.343 million RMB, a decrease of 21.4%, accounting for 2.1%;

2. The top three export markets are Africa, ASEAN, and the European Union. In May 2015, Shunde's furniture exports to Africa were 180 million RMB, a growth of 3.5 times; exports to ASEAN were 150 million RMB, a growth of 2.1 times; exports to the European Union were 150 million RMB, an increase of 1.4%; the total of these three accounted for 49.8% of the total value of Shunde furniture exports during the same period. During the same period, furniture exports to the United States were 110 million RMB, a decrease of 7.8%; furniture exports to the Middle East were 77.33 million RMB, a decrease of 25.8%.

Review of the 2015 Trend

According to data released by the Foshan Customs Sub-office in Shunde, in 2015, Shunde exported furniture and its parts (hereinafter referred to as furniture) worth 8.06 billion RMB, an increase of 13.5% compared to the same period last year. Looking at the monthly data within the year, Shunde's furniture exports showed a fluctuating upward trend. After the export value dipped to 420 million RMB in March, it rose repeatedly. In December alone, exports reached 1.08 billion RMB, increasing by 52.5% year-on-year and 58.6% month-on-month, creating a historical high for Shunde furniture exports.

In 2015, Shunde exported 6.28 billion RMB worth of furniture through general trade methods, a decrease of 4.9%. During the same period, processing trade exports amounted to 390 million RMB, a decrease of 22.7%. In addition, exports through tourist shopping goods amounted to 1.44 billion RMB, a sharp increase of 26.5 times.

It is worth noting that private furniture enterprises are the largest export subjects, while foreign-invested enterprises' exports are declining. In 2015, Shunde private enterprises exported 5.93 billion RMB worth of furniture, an increase of 23.8%, accounting for 73.6% of the total value of Shunde furniture exports during the same period; foreign-invested enterprises exported 2.12 billion RMB, a decrease of 8%; state-owned enterprises exported 5.91 million RMB, an increase of 1.1 times.

In addition, the European Union and the United States are the main market exports. In 2015, Shunde's furniture exports to the European Union and the United States were 1.75 billion RMB and 1.33 billion RMB respectively, increasing by 0.8% and 5% year-on-year respectively; the total of these two regions accounted for 38.2% of the total value of Shunde furniture exports during the same period. Furniture exports to Africa were 1.01 billion RMB, a sharp increase of 69.2% year-on-year; furniture exports to ASEAN were 650 million RMB, a sharp increase of 10.5% year-on-year.