The U.S. furniture retail industry is becoming ever-more reliant on imports. It is notable that the “ Made in America” showcase at the White House included only one furniture producer (cushions). Panjiva analysis of U.S. imports and retail sales data shows imports were equivalent to 52.8% of retail sales by furniture stores in June. That led the 12 month average to 48.0%, the highest since at least 2009.

Chart compares value of all furniture  imports to furniture retailers sales based on U.S. Census Bureau data Source: Panjiva

Factoring in seaborne data for June, imports have increased for four straight months on a year earlier. Imports from China have led, increasing 13.7% in May and accounting for 48.1% of the total in the past 12 months. Vietnamese products have also grown rapidly, including a 19.7% rise in May.

That repeats a pattern seen in other consumer products including appliances and electronics, as outlined in Panjiva research of June 16. In the context of NAFTA negotiations it is also worth noting that the U.S. ran a $8.46 billion “furniture deficit” in the past year, with U.S. exports to Canada and Mexico having fallen 1.1% in May.

Chart segments U.S. imports of furniture selected from HS category 94 by country of origin. Data for most recent month based on seaborne shipments. Source: Panjiva

The increase in imports vs. sales also in part reflects a change in the mix of retailers. Imports by Ikea, which produces predominantly overseas, increased 13.0% in the second quarter after a bumper June. That was only just beaten by number two importer Rooms-to-Go which expanded by 17.8%. The second tier importers have struggled, with Bob’s growing by only 8.0%, and BigLots falling 9.7%.

Seaborne imports of selected furniture categories for Ikea, Bob’s, Rooms to Go, Dorel and Big Lots on a trailing three month total basis Source: Panjiva