In an interview with reporters, Yang Tao, executive chairman of the Guangdong Furniture Chamber of Commerce, said that at present, the prices of furniture raw materials such as sponges, boards, and paints have risen across the board. Some raw materials have risen by as much as 60% to 70%, and the lowest increase has also been 10% to 20%. In this year, the artificial wages in the Pearl River Delta have generally risen by 20% to 30%. In addition to the weakness of the orders, furniture companies are generally unable to withstand such high cost pressures.
Before November this year, China's furniture industry export orders are still good, significantly warmer than last year. According to statistics from China Customs, from January to November this year, Chinese furniture and accessories exports were US $ 29.52 billion, an increase of 32.7% over the same period last year (the same below). Among them, Guangdong, a major furniture exporting province, exported US $ 12.11 billion, an increase of 37.5%, and exported furniture by way of general trade was US $ 9.1 billion, an increase of 47.3%, accounting for 75.1% of the total value of Guangdong ’s furniture exports; export by processing trade was US $ 2.79 billion, an increase 15.4%.
The person in charge of analysis of Guangzhou Customs also mentioned that since this year, Guangdong furniture exports have maintained a rapid growth trend, and the export growth rate for the eight consecutive months from April to November has been more than 20% year-on-year. Among them, the export in November was 1.4 billion US dollars, a year-on-year increase of 37.1% and a month-on-month increase of 27.8%. The monthly export value reached a record high. The United States and the EU are the main export markets. From January to November this year, Guangdong exported US $ 4.03 billion in furniture to the US, an increase of 35.8%; and exports to the EU reached US $ 2.46 billion, an increase of 27.4%. The total exports to the above two places accounted for 53.6%. In the same period, it exported 1.17 billion US dollars to ASEAN, becoming the third largest furniture export market in Guangdong.
According to Yang ’s article, the China-ASEAN Free Trade Zone was established this year, and the zero tax rate has played a certain role in promoting furniture exports. The company ’s export of furniture accessories to ASEAN has increased significantly, and the European and American markets have not really improved. As prices rise, prices, labor, and exchange rates are all rising. As soon as the quotation is raised, some OEM orders are transferred to Vietnam and other places. At present, Vietnam's furniture manufacturing costs are generally 5% to 6% lower than China, although the current production and delivery efficiency is not high It is not yet possible to fully accept orders transferred from China, but with the gradual improvement of production technology and other facilities, Vietnam's ability to accept orders transferred from China cannot be ignored.
Mr. Fan, who is engaged in furniture export business in Guangzhou, also reported that the recent price increase of 5% to 10%, orders have fallen by about 20%, and the prices of raw materials such as wood are still rising, but overseas buyers are biting the price very tightly. Purchase, the two sides are still in a tug of war, there is a certain bargaining room for self-designed general trade orders, but pure OEM furniture orders can hardly increase prices.
Yang Tao said that under the current circumstances, domestic furniture companies are relatively less pressured than export companies. Some brand furniture companies have increased prices by about 10% through design enhancement. Domestic consumers are generally acceptable.
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