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Industry revenue of »manufacture of office and shop furniture« in Norway 2011-2023

Over the past decade, furniture manufacturing, including office and shop furniture manufacturing has been declining in Norway, owing to the high production costs, rising tariffs and high labor wages. Manufacturers are increasingly shifting all production and operational activity to other low-cost bases in Europe or in the Asia-Pacific region. As a result, countries such as China, India, Japan and Vietnam are fast emerging as some of the biggest furniture markets in the world.

With the dearth in manufacturing, majority of the domestic demand is fulfilled through imports, with the UK being its main partner. In 2018, the import value of furniture from the UK amounted to 83 thousand Norwegian kroner per metric ton. Moreover, in 2018, the value of overall furniture imports amounted to nearly seven times that of exports, leading to a trade deficit of over 12 billion U.S. dollars in the sector.

In 2017, the annual turnover of the other furniture manufacturing industry was the highest in the country, at 4.5 billion Norwegian kroner. Kitchen furniture was next in line followed by the office and shop furniture manufacturing industry, with a turnover of 1.5 billion Norwegian kroner.

Industry revenue of »manufacture of office and shop furniture« in Norway from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Norway. The industry “manufacture of office and shop furniture“ has the code “C3101“.

Details on the methodology can be found here.

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