Furnishing articles: excluding those of heading no. 9404, knitted or crocheted (excluding bedspreads)

In 2024, furnishing articles: excluding those of heading no. 9404, knitted or crocheted (excluding bedspreads) trade exhibited strong growth, with global flows reaching $820,629,409 and a three-year compound annual growth rate of -4.1% (five-year: -3.3%). The all-time peak of $1,055,740,122 was recorded in 2014; the current level is 22% below that high-water mark.

Over the 30-year observation window (1995–2024), 72% of years recorded positive growth, indicating a predominantly expanding market. Trend momentum is steady (-1.6% acceleration).

The World Trade Flows Characterization classifies furnishing articles: excluding those of heading no. 9404, knitted or crocheted (excluding bedspreads) as "One-way trade" in the medium price range price segment, providing additional context for market positioning and competitive dynamics.

The supply side is concentrated (Herfindahl-Hirschman Index 0.313). The three largest exporters — China ($442.6M), Kyrgyzstan ($94.8M), and Vietnam ($60.7M) — collectively dominate supply flows. The leading exporter has grown at -3.8% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.081). The three largest import markets are United States ($190.8M), Russia ($97.4M), and Japan ($47.8M). The largest importing market sources from 66 different supplying countries.

Estimated substitution elasticity: -2.64. Buyers have moderate flexibility to shift sourcing, but face some switching costs.

The dominant trade corridor is China → United States at $128.6M, representing 67.4% of the importer's total demand.

The volatility score for furnishing articles: excluding those of heading no. 9404, knitted or crocheted (excluding bedspreads) is 3 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, strong demand tailwinds create a favourable entry environment. The concentrated supply structure suggests high barriers but also potential opportunity if dominant suppliers face disruption or capacity constraints.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.