In a robust expansion of trade relations, the European Union has significantly increased its export of furniture parts and components to Central Asia over the past five years. Central Asia as a whole demonstrated a substantial total growth of EU’s exports consumption of 89.3% from 2018 to 2023, with a Compound Annual Growth Rate of 13.6%. The growth was particularly strong in 2023, showing a 6% increase over the previous year.
Kazakhstan, Uzbekistan, and recently also the Kyrgyz Republic have emerged as the primary markets within the region, showcasing substantial economic engagements and growth dynamics. Kazakhstan leads the pack, holding a dominant 72% of the market share in 2023. It is followed by the Kyrgyz Republic and Uzbekistan, with market shares of 14% and 12%, respectively.
This uptrend in trade figures underlines the growing importance of Central Asian markets to EU exporters and highlights the region’s expanding role in the global furniture industry. The continued growth is supported by strengthening economic ties and strategic trade relations established between the EU and these Central Asian countries.
For more detailed insights and future trade prospects, stakeholders are encouraged to engage with ongoing market analyses and trade discussions aimed at furthering economic cooperation between the European Union and Central Asia.
