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Singapore Furniture Industry
The furniture market
can be divided into two broad categories: residential and office
furniture. The residential category includes furniture found in the
living room, bedroom, garden & outdoor and kitchen in addition to sofas,
dining tables and chairs. With the exception of some garden furniture
that are made of plastic or wrought iron and beds made in brass or
wrought iron, most of residential furniture are made in wood or wood
based materials. The office furniture category includes tables, chairs
and office systems primarily made of metal but also in wood. It is
estimated that only 20 to 25% of the furniture are made locally with the
rest imported.
Singapore
furniture trade
As shown in the
enclosed tables of Statistics, of the European countries, Italy was the
2nd biggest supplier of furniture to Singapore in 1998. Germany and
Sweden in the 7th and 9th position respectively. The Singapore furniture
industry can be divided into two broad categories: residential furniture
and office furniture Local made furniture make 20 to 25% of the total
furniture market Italy is the second largest supplier of furniture to
Singapore
Top 10 Furniture Exporting Countries to Singapore
(1 US$=1,6 S$)
Figures in S$
Source: Singapore
Trade Development Board, 1999
It shall be pointed
out that since 1997, Singapore Trade Statistics have changed its
classification from Standard Trade Classification (STIC) to Harmonised
System (HS) code.
1997 Trade
Performance
To provide an
indication of the size and dynamism of the Singapore furniture market,
total trade in furniture increased by 4% to S$980,1 million in 1997
compared to
the corresponding
period in 1996. Records of furniture exports in 1997 show the USA,
Malaysia, Japan, Hong Kong and China as the largest destination markets.
Exports of furniture to China notched an increase of 8% to 12,9 millions
in 1997. The figure may be bigger though, since most Singaporean
manufacturers also export their finished products directly from their
production plants in the region. On the other hand, exports of furniture
to Japan fell by 55% to register $ 18,9 million.
In 1997, imports of
furniture registered $722,8 millions. Malaysia continued to remain
Singapore’s largest source of imports, accounting for 37% of total
imports of furniture. The USA, Italy, China and Hong Kong were our next
largest source of imports of furniture in 1997.
1998 Trade
Performance
The economic
downturn affected the total import of furniture in Singapore as well as
the total number of furniture re-exported and those estimated to be
manufactured locally. The value of the total furniture imported declined
by 16,2%, furniture exported declined by 33,5% and those estimated to be
manufactured locally declined by 29%. The value of the furniture
imported from Italy declined 12,6% or comparatively better than the
average contraction in the category while imports from USA, Taiwan,
Sweden and Hong Kong suffered a major decline because of the combine
effects of market contraction and currency appreciation against the
Singapore Dollar. Imports of furniture from Germany declined 16,7%,
slightly above the total average of the category.
The total five
supplying countries to Singapore in 1998 were Malaysia (S$234 million),
Italy (S$59 million), USA (S$58 million), China (S$44 million), and
Japan (S$27 million). Imports from these 5 countries accounted for 70%
of the total furniture imports.
Import share in % of the top 10 furniture
suppliers countries to Singapore
The above statistics
indicate that among the European countries – Italy remains competitive
but more should be done to absorb the impact of market fluctuations as
well as to expand globally Italian market share in the furniture
segment.
Italian furniture
exports to Singapore
Design, image,
reputation and quality are the point of strength of European furniture.
Singaporeans especially, like the design and styling of Italian
furniture. They are particularly dominant and cater to a very wide
segment of the retail market from mid-low to high-end. Numerous brands
are being imported here. From highend designer’s furniture like Cassina,
B&B Italia, Molteni & C to mid-range like Minotti, Porada, Tonon,
Casprini, Natuzzi Formenti, Effezeta, Casamania, Europeo. Italian
kitchens already in Singapore are Arc Linea, Boffi, Scavolini, Binova
etc.
German furniture
exports to Singapore
Germany is the
second largest European furniture exporter to Singapore. German
furniture are generally accepted as high quality with superior
finishing, timely delivery but expensive. Though they lack design, image
and innovation and (in Singapore) are perceived to be functional but
without flair. Because of their high price point, they are marketed in
the high-end segment of the market. Brands like Rolf Benz and ClassiCon
have found a market in Singapore and are catering to the high-end
segment but compared to the Italian range – are few. On the other hand,
German kitchens have a strong foothold in the Singapore market. Allmilmö,
Poggenpohl, Bulthaup and Alno are quite established in the market, each
having their own showroom. They are also in the contract market.
Recently, SieMatic kitchens have just established an entry into the
Singapore market last year after having won the tender to supply the
most exclusive condominium project – Ardmore Park. Italian imported
furniture dominates in a very wide market segment, from mid-low to high
end German furniture is the most expensive among the imported furniture,
even if it lacks in design and image German kitchens have a strong
foothold in the Singapore market.
Spanish furniture
exports to Singapore
In recent times,
there has also been more exposure of Spanish furniture in Singapore.
Spanish furniture and home accessories are being recognised as closed to
Italian design and styling but more competitive in prices. These are
normally targeted towards the medium-end of the market.
Furniture and Household Retail Sales Index
Singapore - A Geographical Overview
Singapore - Forest Resource
Singapore Furniture Industry
The demand for furniture
Furniture Associations And
Controlling Bodies
International Furniture
Centre In Singapore
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