HS Code:
The Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings category (HS Code: 94) encompasses a wide range of products used in households, offices, and public spaces. This includes wooden, metal, and plastic furniture, as well as bedding items like mattresses, pillows, and cushions. This category is a significant part of global trade due to the universal demand for home and office furnishings, driven by urbanization, population growth, and changing lifestyle preferences.
Total Trade Volume
USD 180 billion
Data from 2022
Source
United Nations Comtrade Database
USD 60 billion
33.3% of total trade of total trade
Increasing
USD 25 billion
13.9% of total trade of total trade
Stable
USD 15 billion
8.3% of total trade of total trade
Increasing
USD 12 billion
6.7% of total trade of total trade
Stable
USD 10 billion
5.6% of total trade of total trade
Increasing
Average Rate
5.2%
Highest Rate
25% (applied by certain developing countries on luxury furniture imports)
Lowest Rate
0% (under free trade agreements such as EU Single Market or USMCA)
Rise of Sustainable Materials
Increased demand for eco-friendly furniture made from recycled or renewable materials, pushing manufacturers to adopt sustainable practices.
2021-2023
Growth of E-commerce
Online sales platforms have expanded market access for furniture, with direct-to-consumer models reducing costs and increasing competition.
2020-2023
Shift to Modular and Multi-functional Furniture
Urbanization and smaller living spaces have driven demand for space-saving, versatile furniture designs, benefiting manufacturers who innovate.
2019-2023
The United States imposed additional tariffs on Chinese furniture imports as part of ongoing trade disputes, prompting manufacturers to shift production to countries like Vietnam and Indonesia.
Mid-2022
Increased costs for US consumers and diversification of global supply chains.
The European Union introduced stricter environmental regulations under the Green Deal, requiring furniture manufacturers to meet sustainability and recycling standards.
Early 2023
Higher compliance costs for exporters to the EU but long-term benefits for sustainable brands.
Vietnam has seen significant investment in furniture manufacturing, supported by favorable trade agreements and lower labor costs, positioning it as a major exporter.
Late 2022
Increased competition for traditional exporters like China and potential supply chain shifts.