Statistics on the Import and Export Situation of the Domestic Furniture Industry 2021
Import
When examining the import and export proportions of the furniture industry in South Korea, as of 2021, the total import value, combining HS codes 9401 and 9403, amounted to $2.88225 billion, while the export value was $1.02912 billion.It can be observed that the import proportion is more than twice as high as the export proportion. In the import sector, there was a noticeable increase in Denmark's imports, with a growth rate of 60% compared to the previous year, indicating an increased demand for Danish furniture. Additionally, there were import rate increases of 38% from the United States and 21% from Italy.
Export
In 2020, South Korea's furniture export scale amounted to a total of $920.969 million, showing an export growth rate of 11% compared to 2021. China, the United States, and Russia were the top three countries in terms of export share, with a notable 24% increase in exports to Russia in 2021 compared to the previous year. The recent impact of the Russia-Ukraine war is expected to influence the furniture export scale in 2022. The countries that recorded negative growth rates in trade were Vietnam and Japan, while the other top 10 export destinations all showed an approximately 10% increase.
Statistics on the Import and Export Situation of the Domestic Furniture Industry 2021
Import
When examining the import and export proportions of the furniture industry in South Korea, as of 2021, the total import value, combining HS codes 9401 and 9403, amounted to $2.88225 billion, while the export value was $1.02912 billion.It can be observed that the import proportion is more than twice as high as the export proportion. In the import sector, there was a noticeable increase in Denmark's imports, with a growth rate of 60% compared to the previous year, indicating an increased demand for Danish furniture. Additionally, there were import rate increases of 38% from the United States and 21% from Italy.
Export
In 2020, South Korea's furniture export scale amounted to a total of $920.969 million, showing an export growth rate of 11% compared to 2021. China, the United States, and Russia were the top three countries in terms of export share, with a notable 24% increase in exports to Russia in 2021 compared to the previous year. The recent impact of the Russia-Ukraine war is expected to influence the furniture export scale in 2022. The countries that recorded negative growth rates in trade were Vietnam and Japan, while the other top 10 export destinations all showed an approximately 10% increase.