Analyzing the data, furniture exports from Egypt to the UK have shown significant fluctuations over the last decade. Starting from a high of $1.5683 million in 2013, the trend saw a sharp decline to $0.97344 million in 2014, followed by a varying pattern of modest increases and decreases. By 2023, the exports stood at $0.89417 million. Notably, there have been significant percentage variations year-on-year, with a notable 52.68% drop in 2013 and a 10.32% increase in 2015. From 2018 to 2023, the market has exhibited a generally downward trend, with a Compound Annual Growth Rate (CAGR) of -8.21% in 2023.
Looking forward, the forecast data predicts a continual decline from 2024 to 2028, with a projected CAGR of -7.59% and an overall 32.61% decrease over the next five years. By 2028, exports are expected to dip to $0.55442 million.
Future Trends to Watch For:
The ongoing economic relationship between Egypt and the UK, potential impacts of global economic conditions, currency exchange rate fluctuations, and changes in trade policies post-Brexit, could significantly influence future export performance. Identifying and analyzing these factors will be crucial in understanding deviations from current forecasts.