For the first time ever, furniture exports from Russia to Malaysia started to grow, from previously insignificant numbers to a more noticeable value. Thus, the country is among several new Russian furniture export destinations launched in 2021.
In 2021, the total volume of Russian furniture exported to Malaysia reached all-time high of 576 thousand USD. This represents a 12548% increase year-over-year.
The Russian Customs didn’t publish their totals of Q1 2022 yet. However, according to the mirror data provided by the Malaysia External Trade Statistics, the growth continues this year, too, showing another increase of 320% during January-April 2022.
According to the results of last year, furniture exports from Russia to Malaysia consist of
- wooden parts of furniture (62%),
- wooden furniture for dining and living rooms, priced higher than 1.8 EUR per kilo (23%),
- other wooden furniture excluding for offices, kitchens, bedrooms or seats, priced higher than 1.8 EUR per kilo (8%),
- other wooden furniture excluding for offices, kitchens, bedrooms or seats, priced up to 1.8 EUR per kilo (7%).
The average price for Russian furniture exported to this country is something lower than average, 1.65 USD per kilo vs. 2.02 USD for the entire Russian furniture export.
In a changing geopolitical environment, Malaysia is considered among the most friendly trade partners of Russia, business relations with which are expected to develop rapidly while Russian enterprises are turning their trade interests towards the East.
The exports data provided here is an estimation by the Russian Federal Customs Service available at the time this news item is being published. Numbers are subject to change, since the Russian Customs update their analytics retrospectively. Those updated numbers and more detailed analysis of the trend under review shall be included into our extended Market Reports.
