Statistics released by Guangzhou Customs on the 1st show that from January to October 2010, Guangdong furniture exports were US $ 10.72 billion, an increase of 37.6% over the same period last year. Among them, exports to ASEAN reached 1.49 billion US dollars, a substantial increase of 80%, and became the third largest furniture export market in Guangdong.
Guangdong's furniture exports have resumed positive growth since September last year, and have maintained a rapid growth of more than 20% for seven consecutive months since April this year. In October, exports reached US $ 1.09 billion, a year-on-year increase of 24.5%, and a slight decrease of 0.1% month-on-month.
The data shows that the United States and the European Union are the main export markets, and exports to ASEAN have increased substantially. From January to October this year, Guangdong exported US $ 3.61 billion in furniture to the United States, an increase of 36.8%; and exported US $ 2.19 billion to the EU, an increase of 26.9%. The total exports to the above two accounted for 54.1%.
Customs analysis said that the rapid growth of Guangdong's furniture exports since this year is mainly due to the recovery of the global economy and the gradual recovery of external demand, coupled with China's support for policies such as increasing the export tax rebate rate for furniture, to promote Guangdong furniture exports to maintain a certain scale. In particular, the completion of the China-ASEAN Free Trade Area this year has greatly increased ASEAN furniture exports and has become an important support for the furniture exports to resume growth.
In the long run, furniture exports still face the impact of many unfavorable factors. First, the risk of RMB exchange rate has increased significantly recently, especially for labor-intensive industries such as furniture, export profits have been greatly reduced. Second, the continuous rise in raw material prices has led to increased pressure on production and operation. Third, the frequent occurrence of international trade barriers restricts the export of Chinese furniture. Since April this year, the United States, Canada, etc. have issued more than 15 recalls on furniture produced in China.
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