China’s Furniture Export Drops 19%

Posted by MCC on November 6th, 2008 at 06:11am

Many furniture companies and other businesses across the United States have fallen prey to the economic decline. Layoff’s, bankruptcies and store closings have been a frequent part of the news lately. But, The U.S. isn’t the only country suffering from the economic hard times.

China held 25% of the export furniture business until this year when their share dropped to just 6%. While some of China’s business have had to close their doors, many are looking for other outlets for their products.

While part of the strategy for Chinese businesses to stay afloat has been to market their items to other countries such as Africa, the Middle East and Latin America, many are concentrating on domestic revenue.

With a population of over 1 billion people in China, many manufactures are focusing on promotion and marketing techniques to draw more domestic customers. Through more local sales and targeting new export opportunities, Chinese business owners are optimistic about riding out the economic slump.

Under Furniture News