In August 2024, the retail sales of furniture in China amounted to approximately 12.9 billion yuan. This indicated a slight decrease from the same period of the previous year.
Furniture market in China
After decades of development in the furniture industry, China has become the world’s largest furniture producer as well as exporter. Being among the major export goods of China, a significant part of China’s furniture products are destined for the global market. In 2022, the total value of Chinese furniture exports amounted to around 68.3 billion U.S. dollars.
Simultaneously, development of the domestic furniture market is bolstered by an increase in purchasing power among Chinese customers. Continuously rising incomes in both urban and rural China have raised the living standards for a large share of the Chinese population. Hence, Chinese consumers are willing to spend more on household decorations. As a response, the furniture market in the country has developed into a multi-billion dollar industry.
Wooden furniture accounts for a major proportion of the furniture manufacturing industry in China. Traditionally, Chinese customers tend to choose solid wood in terms of furniture materials. Also, bamboo and rattan furniture gained increasing popularity in recent years.
Retail trade revenue of furniture in China from August 2023 to August 2024
(in billion yuan)
*According to the source, figures for January and February have been grouped together to curb the influence of the Chinese New Year on the statistics. Chinese New Year falls between January and February.
One yuan equals approximately 0.14 U.S. dollars and 0.13 euros (as of September 2024).
According to the source, retail sales refer to the trade revenue of tangible goods not intended for business use traded from wholesale and retail companies to individuals or non producing social organizations. Figures include total revenues of the food and beverage service industry. During the survey, only wholesale companies with an annual revenue of 20 million yuan and above as well as retail companies with an annual revenue of five million yuan were questioned.
The source did not provide a date of publication. The date used here is the access date.
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National Bureau of Statistics of China. (September 19, 2024). Retail trade revenue of furniture in China from August 2023 to August 2024 (in billion yuan) [Graph]. In Statista. Retrieved October 31, 2024, from https://www.statista.com/statistics/226900/trade-revenue-of-furniture-in-china-by-month/
National Bureau of Statistics of China. "Retail trade revenue of furniture in China from August 2023 to August 2024 (in billion yuan)." Chart. September 19, 2024. Statista. Accessed October 31, 2024. https://www.statista.com/statistics/226900/trade-revenue-of-furniture-in-china-by-month/
National Bureau of Statistics of China. (2024). Retail trade revenue of furniture in China from August 2023 to August 2024 (in billion yuan). Statista. Statista Inc.. Accessed: October 31, 2024. https://www.statista.com/statistics/226900/trade-revenue-of-furniture-in-china-by-month/
National Bureau of Statistics of China. "Retail Trade Revenue of Furniture in China from August 2023 to August 2024 (in Billion Yuan)." Statista, Statista Inc., 19 Sep 2024, https://www.statista.com/statistics/226900/trade-revenue-of-furniture-in-china-by-month/
National Bureau of Statistics of China, Retail trade revenue of furniture in China from August 2023 to August 2024 (in billion yuan) Statista, https://www.statista.com/statistics/226900/trade-revenue-of-furniture-in-china-by-month/ (last visited October 31, 2024)
Retail trade revenue of furniture in China from August 2023 to August 2024 (in billion yuan) [Graph], National Bureau of Statistics of China, September 19, 2024. [Online]. Available: https://www.statista.com/statistics/226900/trade-revenue-of-furniture-in-china-by-month/