The United States is the leading trade market association for furniture importers. The US also stands as one of the crucial targets for about 120 exporting countries worldwide. The furniture importing in the US mainly receive their imports from big players and solid brands from countries like China, Vietnam, Canada, Mexico, etc.
History Of The Furniture Market In The US
Imported furniture products are in high demand in the US domestic market due to authentic variations. Today, the furniture buyers in the US essentially regulates the imported furniture market, leading successfully on a tremendous scale.
As a result, the value of imported furniture exceeds marginal exports by nearly ten times. For instance, in 1978, the furniture import consumption value was roughly around 6.6% only. Household furniture, mainly imported wooden furniture, contributed around 60% in 1993.
In 1994, the import value increased at 9.7% from 4.1 Billion USD to 4.5 Billion USD in 1995. Simultaneously, the export value depreciated by 1%, from 1.008 Billion USD to 1.003 Billion USD.
Impact of US Furniture Market On The Economy
The consequences of import value exceeding export value gave rise to the trade deficit in the US. In 1995, the wooden furniture trade deficit in the United States jumped to 13.3%.
Over the past few years, the furniture imports have considerably increased by around 8%, which resulted in the net furniture import value in 2013 being approximately USD 19.7 Billion.
On the contrary, if you move ahead to 2019, you will find that the value of the imported furniture reported was about 54.9 Billion USD. About 42% of the furniture was imported into the US from China.
Top US Furniture Importers
Global trade statistics, it’s important to be aware of the furniture importers in the US supplying top-quality furniture. Without the furniture importers, it would have been impossible for the United States to become a leading furniture importer worldwide at the present day.
In North Carolina, United States, you will find this importer company named Redekers. If you are looking for a furniture sofa, then this is the right choice for you. Goods are majorly supplied from Hong Kong to Tacoma, Washington. Global trade data holds eight shipments and one trading partner against Redeker’s profile.
Walker Edison Furniture Company
If you are close to the western United States, specifically in Utah, Walker Edison Furniture Company can provide you with the best furniture deals. They provide everything from general furniture, wooden furniture to furniture stand desks, tables, and chairs. They have over 6,909 shipments and 278 global trading partners.
Bassett Furniture is based in Virginia, United States. They sell outdoor patio and wooden furniture, furniture tables, and chairs, etc. India, Taiwan, and other countries highly contribute to their shipment. With 2,866 shipments, they have about 208 unique traders.
In addition to the furniture buyers, the US has, the exporting countries equally contribute to market growth to grant the United States a recognizable position. For example, in 1995, countries like China, South Korea, Taiwan, the Philippines, Singapore, Malaysia, Thailand, and Indonesia, exported furniture surpassing 2.03 Billion USD.
Duty & Taxation Vs The US Furniture Business
In 2018, the US imported wooden furniture worth 5.7 Billion USD, upholstered furniture accounted for 5.3 Billion USD and other varieties of furniture worth 7.2 Billion USD from China primarily for domestic purposes.
As per the Reuters report in 2019, during Donald Trump’s Presidential rule, Trump levied 25% on imported furniture products worth 200 Billion USD from China. The consequences negatively affected some of the Californian-based furniture market retailers.
The trade dispute between Washington and Beijing allowed the imposition of tariff hikes which directly affected many furniture import market regulators and businesses. As a result, billion-dollar furniture retailers find it challenging to comply with the steep rise in costs from the major furniture suppliers.
Rules Should You Know While Importing Furniture In The US
Before you proceed with your furniture imports into the United States, you must be well aware of the government agencies that regulate the furniture import scenarios.
Customs and Border Protection (CBP), US Department of Agriculture’s Animal and Plant Health Inspection Service (USDA APHIS), US International Trade Commission (USITC), Environmental Protection Agency (EPA), and various other government agencies, customs brokers, and carriers are involved in the furniture import process.
When you are importing furniture into the United States, you need to provide certain essential things, which necessarily include:
- The type of furniture item- whether it is a chair, table, bookshelf, etc
- You need to specify the material, whether it is made of wood, plastic, metal, etc.
- It would help if you mentioned the purpose of the furniture. Stating how you will use the imported furniture, such as in the office, dining rooms, kitchen purpose, etc.
- Also, you need to specify the manufacturing country.
To summarize, you must be responsible for paying the duty and the tax. While proceeding with your imports into the leading furniture importing country- the United States.