Due to the delayed release of the data, the data used in this section are for the whole year of 2019. The next issue will provide an in-depth analysis of the industry data for the first time since the epidemic hit the industry.
Due to the delayed release of the data, the data used in this section are for the whole year of 2019. The next issue will provide an in-depth analysis of the industry data for the first time since the epidemic hit the industry.
[ industrial-scale -RSB- the overall scale maintained steady growth
As of December 2019, there were 6,410 furniture manufacturing enterprises of the above scale in China, 110 more than in 2018. The total assets, liabilities, and profits of enterprises increased by 5.3%, 5%, and 10.8% year-on-year to 589.180 billion yuan, 311.240 billion yuan, and 46.270 billion yuan respectively, reflecting the steady growth of the overall size of the industry.
The production growth rate of output value has dropped
In January-December 2019, the value-added of the furniture manufacturing industry grew by 2.50 percent, an increase of 0.3 percentage points from January-November 2019, but a drop of 3.4 percentage points from the same period last year. Industrial value-added growth declined year on year, in line with the industry investment trend, indicating that the growth momentum of furniture manufacturing production has slowed.
Industry investment shows negative growth
In 2019, fixed asset investment in the national furniture manufacturing industry dropped by 0.70 percent year-on-year, and the growth rate decreased by 23.9 percentage points compared with the same period last year. The sharp drop in investment growth from positive to negative is a warning sign of the industry’s slowdown. The main reason is that the real estate control is increasingly strict, as a link in the real estate chain after the furniture manufacturing enterprises directly affected;
At the same time, environmental standards are increasingly stringent, enterprises on the continued expansion of the lack of confidence in development. In recent years, the domestic furniture enterprises to expand overseas investment, transfer the trend of production capacity has emerged, affecting the enthusiasm of domestic investment.
The export volume has decreased in the whole year
As of December 2019, the total value of export deliveries of the national furniture manufacturing industry was 169.180 billion yuan, down 2.40 percent from the same period last year, accounting for 1.45 percent of the total value of export deliveries of 31 manufacturing industries, ranking 27th.
However, the value of export deliveries in the fourth quarter of 2019 was 44.87 billion yuan, an increase of 26.63 percentage points over the third quarter and a monthly increase trend, indicating that the easing of the sino-us trade war and other factors have a positive impact on the furniture industry.
