Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Mexico - 2023

Contents:

1. Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Mexico (FOB) - 2023
2. Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Mexico (CIF) - 2023
3. Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Mexico
4. Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Mexico

Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Mexico (FOB) - 2023

In November 2023, the average export price for furniture; wooden, other than for office, kitchen or bedroom use amounted to $101 per unit, approximately mirroring the previous month. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in April 2023 when the average export price increased by 18% m-o-m. As a result, the export price reached the peak level of $113 per unit. From May 2023 to November 2023, the the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From December 2022 to November 2023, the rate of growth in terms of prices for the United States amounted to +0.3% per month.

Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Mexico (CIF) - 2023

In November 2023, the average import price for furniture; wooden, other than for office, kitchen or bedroom use amounted to $29.1 per unit, shrinking by -11.6% against the previous month. In general, the import price showed a abrupt descent. The growth pace was the most rapid in June 2023 when the average import price increased by 131% month-to-month. Over the period under review, average import prices reached the peak figure at $53.7 per unit in December 2022; however, from January 2023 to November 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was the United States ($188 per unit), while the price for Thailand ($6.1 per unit) was amongst the lowest.

From December 2022 to November 2023, the most notable rate of growth in terms of prices was attained by the United States (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Mexico

In 2022, overseas shipments of furniture; wooden, other than for office, kitchen or bedroom use decreased by -9.2% to 6.3M units, falling for the second consecutive year after two years of growth. The total export volume increased at an average annual rate of +1.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 35%. As a result, the exports reached the peak of 8.1M units. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of furniture; wooden, other than for office, kitchen or bedroom use rose to $585M in 2022. Overall, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +15.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +54.3% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 27% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use from Mexico in 2022:

1. United States (6.3M units)

Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Mexico

In 2022, imports of furniture; wooden, other than for office, kitchen or bedroom use into Mexico skyrocketed to 3.3M units, growing by 17% compared with the previous year's figure. In general, imports saw a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 157% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, imports of furniture; wooden, other than for office, kitchen or bedroom use soared to $149M in 2022. Over the period under review, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +7.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +63.1% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use to Mexico in 2022:

1. China (2126.5K units)
2. Vietnam (446.5K units)
3. United States (284.8K units)
4. Poland (83.1K units)
5. Thailand (65.4K units)
6. Brazil (63.6K units)
7. Malaysia (55.7K units)
8. Italy (33.8K units)

Source: IndexBox Market Intelligence Platform