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Chinese Wood Furniture Sales Growth Slowing, Margins Slimmer
Zhejiang Honsun Machinery Co. Ltd  Time:2014/2/26 11:25:57

 The Chinese wooden furniture industry reached $63 billion in 2013, up 11.2% but slower than the 16.5% growth the industry averaged over the last five years. 

   Overall, 59% of China's manufacturing sector came from wooden furniture. China has surpassed Italy to  become the largest furniture exporter in the world. 

   But China's furniture profit margins are low, at 5.8%, since it pays a premium to import much of its wood and Chinese furniture commands a lower price in most markets. 

   That margin is expected to rise as domestic consumption of furniture increases. Chinese furniture exports consume 20% of all industry's output, nearly 30% lower than in 2008.   

   The China's wood furniture manufacturing industry is expected to increase an average of 8.8% annually, reaching $96.3 billion by 2018. 
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