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Latest Furniture Industry Statistics Digest published
The Furniture Industry Research Association has published its latest ‘Statistics Digest for the UK Furniture Industry', which is an essential read for anyone operating in the furniture sector. The latest figures reveal that the total combined turnover of the furniture and furnishings sector (including specialist retail) was over £41 billion in 2022, comprised of over 29,000 companies and employed over 292,000 people.
The 39-page digest comprises information primarily sourced from the websites of government bodies such as the Office for National Statistics (ONS), HM Revenue and Customs, Communities and Local Government, and Bank of England. The available data (covering the period 2018 to 2022, where data is available), has been analysed and compiled to produce the following series of reports:
- Consumer spend
- The structure of the UK furniture manufacturing industry, its size, distribution and number of employees
- Furniture manufacturers’ turnover, imports and exports
- The total size of the furniture industry, including manufacturing, retailing, distribution and repair
- Trading relationships with the rest of the world and an analysis of trade gaps
Total UK consumer expenditure increased between 2021 and 2022 to £1.3 billion (an increase of 5%, following a decrease in 2020 of 13%). Despite this increase in total spending, expenditure for the wider furnishings, household goods and routine maintenance sector fell by 5%. Consumer expenditure on furniture & furnishings was just over £20.1 billion in 2022.
Turning to furniture manufacturing, The UK furniture and furnishings sector, which comprises design, manufacturing, retail and repair, is much larger than many people think. Total manufacturing turnover in 2022 was £11.35 billion, which was 10% higher than 2021.
The digest's international trade section reveals that furniture imports into the UK in 2022 increased to £8.5 billion. As in previous years, by far the biggest value of imports originated from China (£3.2 billion), with its share of imports into the UK increasing slightly to 37%. Interestingly, furniture exports have grown in recent years reaching £1.4 billion in 2022.
This latest 'Statistics Digest for the Furniture Industry' is available for all Furniture Industry Research Association members to access as part of their membership benefits.
Non-members can purchase the digest from the FIRA bookshop, priced at £600.
