Guangdong furniture companies thrive as sales increase
Guangdong, generally known as the manufacturing home ground of the world, raked in a total income of RMB100.5 Bn in the first half of 2017, a year-on-year increase of 15 per cent, according to Guangdong Furniture Association.
Wooden furniture dominate production, accounting for 56 per cent of the total. Income from this product segment was RMB56.2 Bn, a YoY increase of 16 per cent.
The USA still is the main market for wooden furniture from Guangdong and in 2016, exports to the USA rose 1.5 per cent to RMB40.3 Bn, making up 31 per cent of the provincial total.
Furniture companies there have also been diversifying their markets to include the Philippines, Indonesia, Thailand, Russia and new markets such as Iraq, Kuwait, Pakistan, Singapore, Malaysia and Saudi Arabia.
Through expanded product range and branding, they hope to improve competitiveness in international markets.