The image is from the Internet. If there is any infringement, please let us know.
From the data of 2017, China’s imported furniture accounted for 33%, making it the UK’s largest importer of furniture. In terms of imports alone, Italy has re-emerged as the UK’s second-largest furniture importer, Poland has risen to third place and Germany ranks fourth. In 2017, 60.5% of the UK’s furniture was exported to EU countries, and exports to China in 2018 may fall by 25%.
This article was published in USA Today’s furniture by Zhang Weiyi;
The Furniture Industry Research Association (FIRA) released the UK furniture industry in February this year. Statistical Report. The report lists the costs and trade trends of the furniture manufacturing industry and provides a basis for decision making.
This statistic covers the UK’s national economic trends, the structure of the UK furniture manufacturing industry and trade relations with the rest of the world, as well as custom furniture, office furniture and other furniture sub-sectors in the UK. The following is a partial summary of this statistical report:
Overview of the UK furniture and home industry
The UK furniture and home industry covers design, manufacturing, retail and maintenance. Most people think much bigger.
The total value of furniture and home manufacturing in 2017 was 11.83 billion pounds (about 101.7 billion yuan) , an increase of 4.8% over the previous year.
The largest proportion of the furniture manufacturing industry, with a total output value of 8.76 billion pounds. This data comes from approximately 120,000 employees of 8489 companies.
The broader definition of the furniture and home industry includes professional retailing of furniture and household products, but not Including general retail, the industry consists of 52,000 registered companies, providing 338,000 jobs.
Credits are rising year by year, and British debt is under pressure?
After 2008 The total amount of unsecured loans to individuals in the UK continued to decline. It fell to the bottom in 2012, reaching 207.1 billion pounds. It has continued to rise since then and rose to 321.1 billion pounds at the end of 2017 (up 10.3% year-on-year).
Part of the reason for the increase in loans was due to credit card loans (up 5.3% between 2016 and 2017), and loans issued through other channels in 2017 increased by 11.7% compared to 2016.
In 2018, the total amount of unsecured loans continued to grow. The latest data (as of March 2018) showed that outstanding loans totaled 327.6 billion pounds, an increase from the outstanding loans of 291.2 billion pounds in the same period last year. 8.79%.
In addition, home mortgage loans are also rising gradually, from about 3.3% in 2016~2017. By the end of 2017, home mortgages reached 1,366 billion pounds.
Preliminary data for 2018 (as of September 2018) shows that the total amount of home mortgages reached 1,390 billion pounds.
Increased number of new homes to stimulate consumption potential in the furniture and home industry
Although the number of new homes in the UK has decreased in recent years, 2016–2017 achieved 13.5 year-on-year in 2015~2016. A substantial increase in %, with a total of 23,780 new homes.
In fact, the new housing in the UK in 2016~2017 has hit a new high since 2007-2008.
Susie · Sidie Radcliffe Hart is the technical manager of FIRA International and the author of this report. She commented: “This reflects the recent years. The pressure on the British government has forced it to increase its efforts to develop affordable housing. As the number of new homes increases and homes are refurbished, potential additional consumer spending will increase in furniture and household items.
Preliminary surveys in 2017 and 2018 show that Wales (-12.1%), England (-2.9%) and Ireland (-2.7%) have seen a significant decline in the number of new homes across the country (Scotland has no relevant data).
Any new home can significantly increase the sales potential of furniture. However, the number of new homes is far below the four years before the 2008 financial crisis, when the number of new homes was between 220,000 and 235,000. between.
However, the new housing in the UK does not reflect the real estate market transaction data —— 2016~2017, the UK’s real estate transactions of more than 40,000 pounds fell by 0.9% year-on-year. Although non-residential transactions remained relatively active from 2014 to 2016, the growth rate declined slightly from 2016 to 2017. The total transaction was 1.35 million, a slight decrease from the previous year.
In 2014~2017, total UK consumption increased to 125.9 billion pounds (up 8.1%), while furniture, household items and daily maintenance expenses increased by 25.5%, 2016~2017 year-on-year growth of 7%. This spending has grown faster than all other competing industries.
In 2017, consumer spending on furniture and home furnishings in the UK was close to £17.5 billion, surpassing all other expenses in the household goods sector, which is a 21% increase over 2014. The year-on-year growth rates from 2014 to 2016 were 6.9% and 4.8%, respectively. The growth rate from 2016 to 2017 was even higher at 7.9%.
The latest data shows that the turnover of furniture and home decoration products continued to grow in 2018. The consumer spending in the first and second quarters increased by 8.5% and 8.3% respectively over the same period of the previous year.
Sales of kitchen furniture and mattresses continued to grow
In 2017, the total output value of the furniture industry was 8.76 billion pounds, up 7.2% year-on-year, and the overall growth in 2014~2017 was 14.9%. In 2014, the output value of the furniture manufacturing industry accounted for 1.46% of the total manufacturing output of the UK. In 2016, the proportion rose to 1.6%. In 2017, the value remained stable.
In 2017, 6,554 furniture manufacturing companies employed 89,000 employees. On average, although furniture manufacturing accounted for 1.6% of the UK’s manufacturing output, the furniture industry employed 4,000 percent of the UK manufacturing industry. The employee, which is equivalent to paying 2.4% of the total manufacturing wage.
Unlike other sub-sectors, the turnover of office and commercial furniture declined between 2016 and 2017, from 2.05 billion to 2.02 billion pounds, a decrease of 1.27%.
According to historical data in recent years, the turnover of the kitchen furniture industry peaked at 1.7 billion pounds in 2008; it fell to the bottom in 2011, at 1.15 billion pounds. Although the turnover rebounded to 1.73 billion pounds in 2014, it fell back to 1.68 billion pounds in 2015.
Despite this, both 2016 and 2017 data show that this is only a brief low, and the turnover of kitchen furniture reached 1.99 billion pounds in 2016 (up 19.1% year-on-year), reaching in 2017. 2.34 billion pounds (up 17.7% year-on-year). Growth has exceeded expectations, but it is difficult to judge whether this is due to market factors.
The mattress industry continues to grow, with a turnover of £850 million in 2017. In 2014~2017, the turnover increased by 28.4%. From 2010 to 2017, the turnover increased by 68.8%. In 2017, the turnover increased by 3.7% compared with the previous year. The number of companies in the industry has also continued to grow, with 174 new registered companies in 2017, an increase of 10.8%.
Susie said: “The activeness of the mattress industry may be attributed to a variety of reasons, & lsquo; boxed mattresses & rsquo; the advent of organizations such as the Sleep Council The potential impact of the event and the spread of information on the replacement of old mattresses have contributed to the growth of the mattress industry’s turnover.
The rest of the furniture manufacturers belong to the category of other furniture and are the largest branch of the four sub-sectors of the furniture industry.
In 2017, other furniture sales reached 3.55 billion pounds, a year-on-year increase of 7% to 3.32 billion pounds in 2016. This category has a significant impact on the overall data of the UK furniture manufacturing industry, accounting for 41% of its total output. As a result, the increase in turnover in this sub-sector has caused the entire UK furniture industry to rejuvenate.
The furniture industry is dominated by small and micro enterprises, and there are more giants in mattresses and other fields
Furniture manufacturers continue to be dominated by small and micro enterprises, with only 300 companies (accounting for 5% of the total number of companies) With a turnover of more than 5 million pounds, only 130 companies have a turnover of more than 10 million pounds, a slight decrease from the previous year.
The latest data (as of October 2018) shows a total of 6,260 companies in the UK furniture industry, compared with 6,230 companies in the same period last year.
Although the number of companies with turnover of 1 million to 5 million, 5 million to 10 million and 10 million to 50 million pounds has increased slightly, most of the new additions are less than 1 million pounds. Business.
At this point, especially in the higher turnover range, the increase in the number of companies is Because of the growth of the company’s own turnover, not because of the new business.
More than four-fifths (82%) of companies have a turnover of less than £1 million, with companies with a turnover of 100,000 to 250,000 accounting for the largest proportion (30.4%). 55.7% of the company’s turnover is less than 250,000 pounds, and there is still a considerable proportion of small businesses in the UK furniture manufacturing industry.
In the mattress industry, office and commercial industries, small companies account for a smaller proportion than other sub-sectors (52.9% and 66.9% of companies with a turnover of less than £1 million). Conversely, in other furniture and kitchen furniture industries, this value is much higher, at 85.9% and 84.9% respectively.
The proportion of large companies in the mattress industry is larger than in the other three sub-sectors, with 23.5% of the company’s turnover exceeding £5 million, an increase of 3% from the previous year.
In contrast, only 9.9% of the office and commercial furniture industry has a turnover of more than £5 million, and kitchens have 38% and 31% of businesses in the furniture industry.It is worth more than 5 million pounds.
China’s imported furniture accounted for 33%, becoming the UK’s largest furniture importer
In 2017, the UK imported furniture reached 6.01 billion pounds (about 51.5 billion yuan), 2016 The annual import value is 5.4 billion pounds. Because the instability caused by Brexit still exists, it is estimated that there may be a small decline in 2018, about 5.9 billion pounds.
In 2017, most of the UK’s imported furniture came from China (£1.98 billion), but China imported The proportion of furniture has fallen from 35% in 2016 to 33% in 2017.
In terms of imports alone, Italy has re-emerged as the UK’s second-largest furniture importer, with Poland rising to third place and Germany to fourth. In terms of the proportion, they accounted for 10%, 9.5% and 9% of UK furniture imports respectively. The import value of these three countries is about 500 million pounds.
In 2017, UK furniture imports to the EU totaled 2.73 billion pounds, up 10.6% year-on-year (in 2016, imports were 2.46 billion pounds). From 2015 to 2017, imports increased by 23.8% (an increase of 520 million pounds).
UK furniture exports are mainly for Europe, and exports to China may fall by 25%
In recent years, UK furniture exports have continued to grow, from 890 million pounds in 2015 to 2017. 1.14 billion pounds, a year-on-year increase of 12% from 2016 to 2017, slightly higher than the import growth rate of 11.48% over the same period.
Exports increased by 122.7 million pounds, significantly lower than the import value of 619 million pounds. Total exports in 2018 are expected to reach 1.21 billion pounds, an increase of 6.3% from 2017.
Furniture exports to the Republic of Ireland in 2017 were £240 million, an increase of 16% from 2016 . In 2017, Britain’s exports of furniture to Germany and France tied for second place, accounting for 9% of total UK exports. US furniture exports have increased, reaching £20 million, accounting for 12.6% of total exports from Germany and France.
Trade with major European countries continues to be a major source of income for furniture exports. In 2017, 60.5% of UK furniture was exported to EU countries (total of £687.3 million).
After 2014 to 2015 (export volume increased by 7 million pounds, with a growth rate of 60.9%) and 2015-2016 (export volume increased by 20.6 million pounds, growth rate 110%), the export volume to China increased significantly After that, export growth to China began to slow down. In 2017, only 43.4 million pounds of furniture were exported (up 10.7% year-on-year).
It is estimated that exports to China in 2018 may fall by 25%.
The author Susie commented: “There have been a lot of reports about the possible slowdown of China’s economic growth recently, which is generally believed to be caused by recent exchanges between the Chinese market and the United States. However, it is also affected by other factors, such as the recent procuring of parts and materials from other markets outside China. “
The trade deficit with China increased to 1.93 billion pounds
The deficit continued to expand, from 4.71 billion to 4.87 billion pounds, but the increase was lower than expected, only 164 million pounds (+3.5%). According to preliminary data, by the end of 2018, the trade deficit may shrink to 4.68 billion pounds.
Despite the strong performance of UK furniture exports, the trade deficit with China in 2017 increased to 1.93 billion pounds (2016: 1.86 billion pounds). This was followed by a trade deficit with Poland, Italy and Germany, calculated in pounds sterling, at 560 million, 550 million and 440 million respectively.
As in previous years, the furniture trade surplus was mainly from the Republic of Ireland. Although the Republic of Ireland has recently increased its exports of furniture to the UK, the trade surplus has increased from 160 million pounds in 2016 to 190 million pounds in 2017. It is predicted that this value may increase in 2018, to around 200 million pounds. .
In addition, the UK has a much smaller trade surplus from other countries in 2017: Saudi Arabia is 10.9 million pounds and Russia is 8.3 million pounds, although the trade surplus in both markets is slightly There were declines, which dropped by £250,000 and £2.2 million respectively.
The furniture trade deficit between the United Kingdom and the United States increased the most, from a trade surplus of 41.5 million pounds in 2016 to a trade deficit of 33.38 million pounds in 2017. It is widely believed that the recent issue of trade tariffs may be the cause of this change.
For changes in international trade, Susie believes that: “The recent trade tariffs and frequent fluctuations in specific US regulations may pose challenges for exporters.
“These data are important to us and to the wider industry. In preparing for the latest information, I was impressed with the resilience of the furniture industry, especially after the economic challenges of the past two years and the uncertainty of the UK exiting the EU. “Suxi concludes, “We are truly part of a global industry that exports products to the rest of the world.
The report covers data from 2014 to 2017 and includes projections for 2018 (some data not yet published in 2018) and future trends in the UK furniture industry.
Data comes from UK government agencies such as the National Bureau of Statistics, the Royal Tax and Customs Administration (HMRC), community and local governments, and the Bank of England. (*This article has indicated the source and source, the copyright belongs to the original author, if there is any infringement, please contact us)
Relevant recommended products
SMS Rolling Aluminium Coils for Re-Passed
Mg9990 Magnesium Alloy Ingot Plate Good Quality Ingot Low Price
Fiberglass Grating Panel Sheet For Various Usage
PVC Ceiling Panel Decorative Material from China
Polypropylene -RandomC filter B Type with SPT Brand