PRODUCT CLASSIFICATION
Seats are structures that come in various forms, for example chairs, benches, stools and sofas, made from materials such as wood, metal, plastic or upholstered fabrics and known for their ergonomic design, comfort and adaptability to different settings.
They are essential elements of daily life, especially in interior design, public infrastructure and mobility solutions and are intended to support the human body in a sitting position.
Seats are a part of Furniture, bedding, lamps, prefab buildings, a category of the Miscellaneous section that includes many related by-products, like Parts of seats, Seats with wooden frames, upholstered nes, Seats with metal frames, nes, Seats with metal frames, upholstered nes, and Seats; adjustable, among others.
They also have a Product Complexity Index of 0.16, ranking 516th out of 1044 products in 2023.
This post will not consider a specific country’s market, but it will be focused on the Seats trade in general.
OVERVIEW
In 2023, global trade of Seats reached an amount of $87.7B, reflecting a decreased percentage of 6.19 from 2022, when it totaled $93.5B and, over the past five years, it has grown at an annualized rate of 0.73%.
In addition, during the same year, Seats ranked 38 out of 1217 products, accounting for 0.39% of world trade.
EXPORT
In 2023 it was estimated that the main characters in the exportation scenario of Seats were
- China - $26.9B;
- Mexico - $9.17B;
- Poland - $6.82B.
Also, during the same year, the countries that registered the highest share of this category in their export portfolios were
- Wallis and Futuna - 35.4%;
- North Macedonia - 3.69%;
- Bosnia and Herzegovina - 3.15%.
IMPORT
In 2023 it was revealed that the leading importers of the Seats section in global trade were
- United States - $25.9B;
- Germany - $8.64B;
- United Kingdom - $3.92B.
CONCLUSIONS
In 2023 the Seats trade experienced a slight decline compared to 2022, largely due to reduced consumer spending and slower demand in the furniture and automotive sectors, but the industry has shown consistent growth over the past five years, driven by trends in ergonomic design, sustainable materials and smart seating technologies.
While short-term challenges have impacted sales, this kind of market continues to evolve along with changing lifestyles and work habits, reaffirming its essential role of giving us the comfort of seating in both private and public spaces.
Source: https://oec.world/en
