Furniture imports, exports show weakness in first half
HIGH POINT - In Furniture Today’s High Point Market opening day issue, readers can expect some detailed information on furniture imports and exports over the first six months of the year.
As we’ve previously reported online, the overall imports were up just 2% and exports down 5%. This is a sign not just of weak demand in the U.S., but also a sign that globalization overall has lost some steam - at least in the first half.
On the export side, which fuels the growth of many domestic manufacturers, much of the drop in demand came from Canada and the U.K. (each down 5%), China (down 19%) and Saudi Arabia (down 17%).
The last time we checked with some domestic producers, these were indeed some of the growth markets for exports. The good news is that there were some increases in exports to Mexico (up 21%) and Japan (up 108%).
What do you think is driving these trends? Is your company hurting due to the overall drop in exports?