Home & Furniture
The worldwide market for Wood Furniture is expected to grow at a CAGR of roughly 4.4% over the next five years, will reach 262500 million US$ in 2024, from 202400 million US$ in 2019, according to a new study. The rapidly evolving tourism industry in the Middle East and Africa is anticipated to boost the growth of the market for furniture in the coming years.
Currently, there are over 400 furniture and joinery companies employing over 40,000 artisans and administrative personnel. There are also nearly 2,000 small-scale carpentry shops offering jobs to many thousands of rural and urban youth.
Statistics of the annual furniture imports from the Ghana Revenue Authority (GRA) show that the average value of imports is GH¢180.3million. This is increasing annually.