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U.S. furniture trade deficit on $10 billion pace. (Trends & News).

A 14.6% increase in wood furniture imports coupled with a 15.7% decline in exports has put the U.S. trade deficit on pace to surpass $10 billion this year.

Led by a 52.2% increase in shipment value of wood furniture and parts arriving from China, U.S. furniture imports set a new first-half record of $5.68 billion, according to numbers released by the U.S. Department of Commerce. Simultaneous to this large increase, U.S. exports of wood furniture and parts dropped to $503 million in the first six months.

China, which last year dethroned Canada as the U.S.'s leading source of wood furniture and parts, is well on its way to eclipsing the $2.8 billion value of product it sent here in 2001. Canadian furniture shipments were down 1.5% for the first half of 2002.

In addition to China, five other Top 10 sources of U.S. furniture and parts registered gains. Brazil, with a 44.8% increase, moved ahead of the Philippines into the No. 9 slot.

 2002 2001

TOP 10 TOTAL $5,106 $4,570 16.8%
WORLD TOTAL $5,684 $4,958 14.6%
U.S. EXPORTS $ 503 $ 597 -15.7%
U.S. TRADE BALANCE -$5,181 -$4,361 -15.8%

Source: U.S. Department of Commerce
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Article Details
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Author:Christianson, Rich
Publication:Wood & Wood Products
Article Type:Brief Article
Geographic Code:9CHIN
Date:Oct 1, 2002
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