According to Guangdong Furniture Association there are 1,170 furniture enterprises each having annual sales value of RMB5 million in Guangdong Province. The total income of furniture enterprises in the province was RMB100.5 billion in the first half of 2017, a year on year increase of 15%.
Of the total, wooden furniture dominates production. In the first half of 2017 the income of wooden furniture enterprises was RMB56.2 billion, a year on year increase of 16%, accounting for 56% of the total.
The USA still is the main market for wooden furniture from Guangdong and in 2016 exports to the USA were worth RMB40.3 billion, a year on year increase of 1.5%, making up 31% of the provincial total.
Guangdong furniture enterprises have been diversifying their international markets to include the Philippines, Indonesia, Thailand, Russia and new markets such as Iraq, Kuwait, Pakistan, Singapore, Malaysia and Saudi Arabia.
The enterprises have also been diversifying their product range and quality in efforts to expand market share.
Through branding they hope to improve competitiveness in international markets and aim to explore sales of furniture with domestic cultural characteristics, new Chinese style furniture, fashion and simple furniture emphasising functionality.