The trend of the furniture industry in the first quarter

Affected by the international financial crisis, the import and export of the furniture industry experienced a relatively large negative growth in the first quarter of 2009, but with the support of a series of policy measures such as the expansion of domestic demand by the country, the production and profit of the furniture industry continued to grow, showing a relatively good development momentum.

(1) Production maintained steady growth and the domestic market expanded further

In the first quarter, the cumulative total industrial output value and industrial sales output value of furniture enterprises above designated size nationwide increased from the same period of the previous year, but the export delivery value showed a negative growth. Affected by this, the growth rate of the total industrial output value and industrial sales output value of the furniture industry has dropped from double digits over the years to single digit growth. However, the industry's output value can still maintain a positive growth, indicating that while the demand in foreign markets is decreasing, the domestic market of the furniture industry is constantly expanding and the domestic sales rate of the industry is increasing.

(2) The scale of imports and exports shrank synchronously, but exports began to pick up

In the first quarter, the cumulative import and export value of the furniture industry both declined compared with the same period last year. Among them: Although the export value in January remained at a normal level compared with each month in 2008, the year-on-year growth rate showed a negative growth for the first time; the export scale shrank sharply in February due to factors such as the low operating rate of enterprises after the Spring Festival holiday; the export value in March It rebounded and grew sequentially. The growth rate of exports rose month-on-month, indicating that the industry's exports have stopped falling and stabilized.

The export products are still mainly seats and their parts, wooden furniture and metal furniture. In the first quarter, the cumulative export value of these three main products has a negative year-on-year growth rate.

(3) The product structure has been optimized, and industry profits have been greatly improved.

In the first quarter, the total output of furniture enterprises above designated size in the country fell compared with the same period of the previous year, but the furniture industry still achieved higher profit growth, indicating that the furniture industry continued to increase in value-added products and the product structure was optimized when the total amount decreased.

Compared with the same period of last year, the accumulated losses of loss-making enterprises in the industry increased and the growth rate decreased. However, due to the relatively high total profit growth of non-loss-making enterprises in the entire industry, the net profit level of the industry after the profit and loss balance has been greatly improved.

Under the impact of the financial crisis in the furniture industry in the first quarter, the polarization phenomenon was obvious. This shows that the furniture industry has ended its nearly 20-year period of rapid growth and entered the stage of structural adjustment.