One might not immediately associate Latin America with the furniture market, more so with agricultural products such as avocados, quinoa, or cacao. And looking at the leading furniture markets with the highest revenue around the world, there were only two Latin American countries in the mix -
.
Taking a closer look at the furniture giant IKEA, one finds that they have only
two stores in all of South America. Both are located in Chile and form part of a franchise agreement between IKEA and the Chilean retail conglomerate Falabella. Additionally, IKEA has two stores in Mexico, four stores in the Dominican Republic, and will have a store in Colombia by the end of 2023.
Furniture trade in Latin America
Although Brazil was the country with the highest revenue in the furniture market in Latin America, it was surpassed by Mexico in both the
import and the
export trade of furniture items. More precisely, Mexico’s furniture exports valued more than 12 times the amount of Brazil’s furniture exports in 2022, while Mexico’s furniture imports were worth roughly four times as much as Brazil’s furniture imports that year. Furthermore, for the past five years, the North American country experienced a
trade surplus, or positive trade balance, in its furniture market.
Furniture manufacturing sites
Since 2014, the number of
furniture production facilities in Colombia has decreased steadily. In 2021, only 250 manufacturing establishments were recorded. Furthermore, the number of
furniture manufacturing plants in Chile, home of Falabella, has also decreased steadily over the past four years. In contrast, the number of
furniture production sites in Mexico has remained relatively stable in recent years, counting 318 establishments in 2021.
This text provides general information. Statista assumes no
liability for the information given being complete or correct.
Due to varying update cycles, statistics can display more up-to-date
data than referenced in the text.
