HS Code:
The 'Suitable for furniture and cabinets' category, often classified under HS Code 9403 (Other furniture and parts thereof), encompasses a wide range of products including wooden, metal, and plastic furniture components, as well as finished furniture items specifically designed for residential and commercial use. This category includes items such as cabinets, shelves, desks, and chairs, which are integral to interior design and functionality. The global trade of these products is driven by factors such as urbanization, rising disposable incomes, and the growth of the real estate sector. Additionally, sustainability concerns and the demand for eco-friendly materials are shaping production and trade patterns.
Total Trade Volume
USD 85.6 billion
Data from 2022
Source
United Nations Comtrade Database
USD 28.4 billion
33.2% of total trade of total trade
Increasing
USD 9.1 billion
10.6% of total trade of total trade
Stable
USD 8.7 billion
10.2% of total trade of total trade
Increasing
USD 6.3 billion
7.4% of total trade of total trade
Stable
USD 5.9 billion
6.9% of total trade of total trade
Increasing
Average Rate
5.8%
Highest Rate
25% (imposed by certain developing countries on imports to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU Single Market or USMCA)
Rising demand for sustainable and eco-friendly furniture
Increased use of certified wood and recyclable materials, pushing manufacturers to adopt greener practices
2021-2023
Growth of e-commerce in furniture sales
Boosted cross-border trade as online platforms enable direct consumer access to international markets
2020-2023
Shift towards modular and customizable furniture
Encouraged innovation in design and manufacturing, with a focus on space-saving solutions for urban consumers
2019-2023
The United States extended Section 301 tariffs on Chinese furniture imports, citing unfair trade practices. This has led to a shift in supply chains towards Southeast Asian countries like Vietnam.
March 2023
Increased costs for US consumers and diversification of import sources
The European Union introduced stricter sustainability regulations under the Green Deal, mandating eco-design requirements for furniture manufacturers exporting to the EU.
January 2023
Higher compliance costs for exporters but potential long-term benefits for sustainable brands
Vietnam has seen significant growth in furniture exports due to favorable trade agreements and lower production costs, overtaking traditional exporters in some markets.
October 2022
Increased competition for established exporters like China and potential supply chain shifts