MENA: Market for Furnishing Articles, Furniture and Cushion Covers 2024

Market Size for Furnishing Articles, Furniture and Cushion Covers in MENA

The MENA's market for furnishing articles, furniture and cushion covers dropped notably to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption, however, continues to indicate prominent growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Furnishing Articles, Furniture and Cushion Covers in MENA

In value terms, production of furnishing articles, furniture and cushion covers reduced to $X in 2022 estimated in export price. Overall, production, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, production of hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Furnishing Articles, Furniture and Cushion Covers

Exports in MENA

In 2022, shipments abroad of furnishing articles, furniture and cushion covers increased by X% to X tons, rising for the second year in a row after three years of decline. Total exports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2015 when exports increased by X%. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of furnishing articles, furniture and cushion covers contracted to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey was the largest exporting country with an export of around X tons, which finished at X% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with a X% share, followed by Tunisia (X%). Iran (X tons) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Iran (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. By contrast, Tunisia (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.) and Iran (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Tunisia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest furnishing article, furniture and cushion cover supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by Tunisia ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with an X% share.

In Turkey, exports of furnishing articles, furniture and cushion covers remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Tunisia (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, flattening at the previous year. Over the period under review, the export price saw a perceptible descent. The growth pace was the most rapid in 2015 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Tunisia ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Imports of Furnishing Articles, Furniture and Cushion Covers

Imports in MENA

In 2022, approx. X tons of furnishing articles, furniture and cushion covers were imported in MENA; shrinking by X% compared with 2021 figures. Over the period under review, imports saw a perceptible descent. The most prominent rate of growth was recorded in 2014 when imports increased by X%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of furnishing articles, furniture and cushion covers reduced sharply to $X in 2022. In general, imports saw a mild downturn. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons), Iraq (X tons), Kuwait (X tons) and Saudi Arabia (X tons) represented roughly X% of total imports in 2022. Israel (X tons) ranks next in terms of the total imports with a X% share, followed by Algeria (X%), Turkey (X%), Oman (X%) and Libya (X%).

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest furnishing article, furniture and cushion cover importing markets in MENA were the United Arab Emirates ($X), Kuwait ($X) and Iraq ($X), together comprising X% of total imports.

Among the main importing countries, Kuwait, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, dropping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then reduced slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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