22.2 C
Moscow
Monday, June 27, 2022
spot_img

Ranked 4th among importing countries

(+13%) Imports from Italy • Jan-Dec 2021/20

In 2021, the volume of furniture imports from Italy to Russia reached 184.2 million USD. This represents a 12.9% increase to the corresponding period of the previous year. This gross estimation also includes parts of furniture, mattresses, bedding, mattress supports, healthcare and other professional furniture, so the HS codes 9401, 9402, 9403, 9404 are considered.

The share of Italy in Russian furniture imports is as much as 7.2% in 2021, which is lower than in 2019 (8.3%) and 2020 (8.2%).

Furniture imports from Italy consist mainly of

  • parts (37.7%), with wooden parts and metal parts being the top product groups here,
  • upholstered seating furniture with wooden frames (6.7%),
  • wooden furniture for dining and living rooms, priced higher than 1.8 EUR per kilo (6.3%),
  • metal furniture excluding beds or professional furniture (5.8%),
  • upholstered seating furniture with metal frames excluding swivel chairs (4.7%),
  • other wooden furniture excluding for offices, kitchens, bedrooms or seats, priced higher than 1.8 EUR per kilo (4.5%),
  • and fitted kitchen units of wood (4.4%).

These categories together provide more than 70% of the total value of furniture imported from this country. Each other furniture category accounts for 2% or less.

The growth in 2021 was mainly driven by

  • parts (+25%),
  • swivel chairs with variable height adjustments excluding medical, surgical, dental, or veterinary (+54%),
  • metal furniture excluding beds or professional furniture (+44%),
  • upholstered seating furniture with metal frames excluding swivel chairs (+26%).

Some smaller scale categories also showed a higher than average increase, for instance:

  • wooden furniture for dining and living rooms, priced up to 1.8 EUR per kilo (+47%),
  • other seating furniture (+25%),
  • furniture of plastics (+22%),
  • wooden furniture of a kind used in shops (+15%).

The average price for furniture imported to Russia from this country is higher than average, although the annual trend is downward. In 2021, the average price declared at customs reached 5.33 USD per kilo (previously 5.74 USD in 2019 and 5.45 USD in 2020).

The weighted average of the currency exchange rate was 73.6541 RUB for 1 USD in the current period under review. This rate shall be used to accurately convert the imported value to rubles.

The imported volume reported by the Russian Federal Customs Service is often different from the relative trade numbers declared by origin country (i.e. so called mirror data). This is due to specifics of procedures and customs clearance in the Eurasian Economic Union (with the common outer border and no customs barriers between Russia, Belarus, Kazakhstan, Armenia, Kyrgyzstan) and partial shift of imports to the statistical “gray zone”. It’s important to bear this factor in mind when estimating the real weight of imports in the Russian furniture market. We always run such a cross-check within our extended Market Reports.

The imports data provided here is a preliminary estimation made by the Russian Federal Customs Service immediately after the reporting period, available at the time this news item is being published. Evidently, numbers are subject to change: the Customs update their analytics retrospectively, even a long time after the reporting period is finished. Those updated numbers and most actual data shall be included into our extended Market Reports.

Related Articles

(+36%) Imports from Türkiye • Jan-Dec 2021/20

In 2021, the volume of furniture imports from Türkiye to Russia reached 52.1 million USD. This represents a 35.9% increase to the corresponding period...

(+38%) Imports from Lithuania • Jan-Dec 2021/20

In 2021, the volume of furniture imports from Lithuania to Russia reached 48.3 million USD. This represents a 37.8% increase to the corresponding period...

(−18%) Imports from Czech Republic • Jan-Dec 2021/20

In 2021, the volume of furniture imports from Czech Republic to Russia reached 57.7 million USD. This represents a 18% decrease to the corresponding...

LATEST MARKET STUDY

spot_img

COVID-19 CASES

Russia
192,476
Total active cases
Updated on 26.06.2022 20:34
18,418,881
Total confirmed cases
Updated on 26.06.2022 20:34
380,892
Total deaths
Updated on 26.06.2022 20:34
17,845,513
Total recovered
Updated on 26.06.2022 20:34

CURRENCY EXCHANGE RATES

RUB - Russian Ruble
EUR
60.9451
USD
58.3750

Latest Articles