HS Icon Furniture, wooden, nes

940360 (Harmonized System 1992 for 6-digit)

World Trade (2019): $25.7B, Rnk 98 / 4648

Top Exporter (2019): $6.49B, China

Top Importer (2019): $6.19B, United States

Product Complexity (2019): -0.19, Rnk 2916 / 4826

Export Growth (CAGR)(2018 - 2019): -2.96%, Rnk 2205 / 4648

Mean Tariff (2018): 14.7%, Rnk 1243 / 6538

Share of World Trade (2019): 0.14%, Rnk 98 / 4648

Overview:  This page contains the latest trade data of Furniture, wooden, nes. In 2019, Furniture, wooden, nes were the world's 98th most traded product, with a total trade of $25.7B. Between 2018 and 2019 the exports of Furniture, wooden, nes decreased by -2.96%, from  $26.5B to $25.7B. Trade in Furniture, wooden, nes represent 0.14% of total world trade.

Exports: In 2019 the top exporters of Furniture, wooden, nes  were China ($6.49B), Poland ($2.53B), Vietnam ($2.46B), Italy ($2.03B), and Germany ($1.33B).

Imports: In 2019 the top importers of Furniture, wooden, nes were United States ($6.19B), Germany ($2.4B), United Kingdom ($1.67B), France ($1.64B), and Japan ($969M).

Tariffs: In 2018 the average tariff for Furniture, wooden, nes was 14.7%, making it the 1243rd lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Furniture, wooden, nes are Syria (55.2%), Iran (55%), Cape Verde (50%), Egypt (45%), and Bahamas (44.6%). The countries with the lowest tariffs are China (0%), Hong Kong (0%), Japan (0%), South Korea (0%), and Singapore (0%).

Ranking: Furniture, wooden, nes ranks 2916th in the Product Complexity Index (PCI).

Description: Wooden furniture is typically used as seating, especially in the home, but is also used in the construction of other furniture and for flooring. Wooden furniture is typically made of plywood, and comes in a variety of finishes, ranging from natural to painted.

Exporters and Importers

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Trade By Country

Top Origin (2019): China, $6.49B

Top Destination (2019): United States, $6.19B

Furniture, wooden, nes are the world's 98th most traded product.

In 2019, the top exporters of Furniture, wooden, nes were China ($6.49B), Poland ($2.53B), Vietnam ($2.46B), Italy ($2.03B), and Germany ($1.33B).

In 2019, the top importers of Furniture, wooden, nes were United States ($6.19B), Germany ($2.4B), United Kingdom ($1.67B), France ($1.64B), and Japan ($969M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Vietnam, $393M

Top Destination Growth (2018 - 2019): Saudi Arabia, $43.2M

Between 2018 and 2019, the exports of Furniture, wooden, nes grew the fastest in Vietnam ($393M), Malaysia ($74.3M), Turkey ($54M), Lithuania ($48M), and India ($32.3M).

Between 2018 and 2019, the fastest growing importers of Furniture, wooden, nes were Saudi Arabia ($43.2M), Poland ($34.6M), Philippines ($34.4M), South Africa ($30.9M), and Libya ($20.8M).

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Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Furniture, wooden, nes.

In 2019,  market concentration measured using Shannon Entropy, was 4.38. This means that most of the exports of Furniture, wooden, nes are explained by 20 countries.

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TOP NET EXPORTER (2019): China, $6.09B

TOP NET IMPORTER (2019): United States, $5.72B

This map shows which countries export or import more of Furniture, wooden, nes. Each country is colored based on the difference in exports and imports of Furniture, wooden, nes during 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Furniture, wooden, nes were China ($6.09B), Vietnam ($2.4B), Poland ($2.22B), Italy ($1.62B), and Indonesia ($735M).

In 2019, the countries that had a largest trade value in imports than in exports of Furniture, wooden, nes were United States ($5.72B), United Kingdom ($1.41B), France ($1.18B), Germany ($1.07B), and Japan ($946M).

Import Tariffs

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In 2018, the average tariff for importing Furniture, wooden, nes was 14.7%.  The countries with the highest tariffs for importing Furniture, wooden, nes were Syria (55.2%), Iran (55%), Cape Verde (50%), Egypt (45%), and Bahamas (44.6%).

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Product Complexity

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Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.