Between 2013 and 2023, the import of furniture parts to Spain showed a notable upward trend overall, with occasional fluctuations. In 2013, the value stood at $171.53 million and reached $258.26 million in 2023, reflecting a significant increase. The year-on-year variations often hovered around single and low double digits, showing periods of robust growth such as in 2017 (16.5%) and 2018 (10.5%), contrasted with minor declines like in 2015 (-1.21%) and 2019 (-1.52%). The average annual growth rate (CAGR) over these periods varied, peaking in 2018 at 7.19% and decreasing slightly to 1.25% by 2023.
Looking forward, forecasted data from 2024 up to 2028 indicates continued growth, with the import value expected to reach $282.65 million by 2028. The average annual growth rate (CAGR) over the next five years is projected at 1.42%, with a total growth rate of 7.31% from 2024 to 2028.
Future Trends to Watch For:
1. Emerging market demand for modular and eco-friendly furniture components, which could drive import values higher.
2. Potential impacts of global trade policies and tariffs on the cost and availability of imported furniture parts.
3. Technological advancements in manufacturing that may influence import volumes and values.