In recent days, the Guangdong Furniture Chamber of Commerce and the Guangdong Furniture Industry Research Institute jointly released the 2012 Guangdong Furniture Industry Development Status and 2013 Outlook Report. This comprehensive report was supported by the Guangdong Provincial Statistics Bureau and Guangzhou Customs, aiming to provide industry players with insights for strategic planning and future decision-making.
**Review of the 2012 Guangdong Furniture Industry**
In 2012, the total output of furniture products in Guangdong reached 129.25 million pieces, marking an 8.6% decline compared to the previous year. Despite this, it still accounted for 19.75% of the national total, a decrease of 3.5% from the prior year. The total output value amounted to 338 billion yuan, showing a growth of about 15%. The added value of the furniture industry in the province totaled 30.416 billion yuan, rising by 8.2% year-on-year. The sales output of the entire industry reached 116.273 billion yuan, increasing by 16.4% over the same period last year.
Regarding exports, Guangdong’s furniture exports represented only 6.98% of the national total volume but accounted for 53.29% of the export value. Specifically, the physical volume of wood and bamboo furniture exports dropped by 5.84%, reaching 65.183 million pieces, which made up 32.62% of the national total. However, the export value rose by 7.8% to 5.674 billion USD, representing 47.64% of the country's total. The decline in overall export volume was attributed to weak global economic conditions and increased competition from Southeast Asian countries, which are leveraging lower labor costs to attract international manufacturers.
Despite the drop in quantity, both domestic and export sales prices saw an increase. This was mainly due to rising production costs, including raw materials, labor, and logistics. Additionally, after decades of development, Guangdong furniture has evolved into a more brand-focused, technology-driven sector, significantly boosting product value.
On the import side, the province saw a modest increase in both volume (0.46%) and value (2.45%) for wood and bamboo furniture imports, indicating a relatively stable trend.
Professor Chen Shuihe, an expert from the Guangdong Furniture Chamber of Commerce, noted that factors such as the European debt crisis, new environmental regulations, and fluctuating exchange rates have put pressure on export markets. Meanwhile, domestic real estate controls, rising material costs, and shrinking profit margins have created challenges for local furniture companies. At the same time, evolving brand strategies, diversified marketing, and improved design have driven transformation within the industry.
Although the proportion of Guangdong’s furniture output in the national market declined slightly in 2012, the province still maintains its leading position nationwide.
**Outlook for 2013**
As a downstream industry of real estate, the furniture sector is closely tied to housing market developments. In early 2013, the real estate market showed signs of recovery, with investment and prices both rising. According to the National Bureau of Statistics, real estate development investment reached 667 billion yuan in January–February, a 22.8% increase year-on-year. Residential investment alone rose by 23.4%, accounting for 68.7% of total real estate investment. New construction started in houses increased by 14.7%, with residential starts up by 17.5%. Commercial housing sales also surged by 49.5%.
The push for affordable housing construction is expected to further stimulate furniture demand. With the completion of 7 million affordable housing units last year, 4.6 million units were completed in 2013, while another 6 million were started.
**Wood Processing Products**
Wood processing products in Guangdong saw strong growth in early 2013, driven by the rebound in the real estate market. Output of wood furniture and related surface decorative boards rose by 17.5% and 50.2% respectively. The output value of large-scale wood processing enterprises reached 39.842 billion yuan, up 15.69% year-on-year. Solid wood composite flooring, which had been declining for years, saw a dramatic 82% increase due to export growth.
**Import and Export Trends**
Furniture imports and exports in Guangdong showed positive momentum in early 2013. Wood and bamboo furniture imports rose by 396.47% in January, reaching 422,000 pieces, with a value of 4.4408 million USD, up 83.53%. Exports increased by 7.47% to 5.835 million pieces, valued at 637.723 million USD, a 50.37% rise.
Jingyan Yan, Executive Director of the Guangdong Furniture Industry Research Institute, stated that the industry is beginning the year on a more optimistic note, with rapid development and technological advancements. Companies are increasingly focusing on sustainability, energy efficiency, personalization, and branding. The expansion of furniture industrial parks is accelerating the sector’s overall growth.
With intensified competition, the industry is expected to deepen its development. Key trends include de-capacity, brand building, market segmentation, and changes in retail models.
Facing internal and external pressures, the Guangdong furniture industry is moving toward a more rational and orderly direction. Enterprises must focus on innovation in technology, management, branding, and distribution to secure long-term stability and success.
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