Exports of wood, wooden furniture see strong recovery

Despite daunting challenges, Vietnam’s exports of wood and wooden furniture have shown signs of recovery since the end of 2023, Director of the Vietnam Chamber of Commerce and Industry (VCCI)’s Ho Chi Minh City Branch Tran Ngoc Liem said on February 26.

Exports of wood, wooden furniture see strong recovery hinh anh 1

Vietnam’s exports of wood and wooden furniture have shown signs of recovery since the end of 2023. (Photo: VNA)

Despite daunting challenges, Vietnam’s exports of wood and wooden furniture have shown signs of recovery since the end of 2023, Director of the Vietnam Chamber of Commerce and Industry (VCCI)’s Ho Chi Minh City Branch Tran Ngoc Liem said on February 26.

At the opening ceremony of the Vietnam International Furniture & Home Accessories Fair (VIFA EXPO) 2024 in HCM City, Liem said that shipment of the products in December 2023 rose 10.3% month-on-month to 1.6 billion USD while that in January grew 10.2% from the previous month to nearly 1.8 billion USD.

He said this was the only product in the field of agriculture with export value exceeding 1 billion USD within a month, and 32 out of 45 key export markets seeing growth.

However, Liem said that the wood industry is facing several problems that affect its sustainability, including risks related to imported timber materials, the EU’s deforestation regulations and requirements for wooden products to have low carbon footprints.

He also described the conflict in the Red Sea, which forced liners to stop transport or pert their routes, subsequently leading to higher transport expenses, as another major challenge.

Although export growth was recorded in several markets in 2023, such as India (288%), Peru (111%), Turkey (90%) and Norway (52%), it was a tough year for Vietnam’s wood exports. This was the first time the industry has reported negative export growth in two decades as shipments fell 14.8% to only 16 billion USD.

VIFA EXPO 2024 is organised by the VCCI's HCM City Branch, the Vietnam Association for Construction Materials and the Alliance Handicraft & Wooden Fine Art Corporation from February 26-29.

It attracted more than 600 exhibitors who set up over 2,000 booths. The exhibitors are from 17 countries and territories, including Australia, Canada, China, Cambodia, Denmark, France, Hong Kong (China), India, Indonesia, the Netherlands, the US and Vietnam.

A wide range of wood furniture and products, home decoration items, handicrafts, machinery, and supporting services are displayed at the fair.

As an important trade promotion event for the wood and furniture industry, the expo serves as a venue for enterprises to introduce their products and seek orders./.

Source: VNA
en.vietnamplus.vn

Related News

Latest News

Building the Vietnamese brand associated with green and sustainable development

Building the Vietnamese brand associated with green and sustainable development

VCN - According to experts, in the current context, branding becomes even more urgent, helping to increase endogenous resources for businesses, helping businesses move towards strong development, gradually reaching further in the domestic and world markets.
Improving the competitiveness of businesses is an important factor

Improving the competitiveness of businesses is an important factor

VCN - Local competitiveness is not only based on economic management capacity, the favorable and friendly business environment and efforts to improve administrative reform efforts of provincial and city governments (PCI) but also relies on the competitiveness of local businesses.
Malaysia to boost exports to Vietnam

Malaysia to boost exports to Vietnam

The Malaysian Ministry of Investment, Trade and Industry (MITI) on July 11 announced that the country has secured potential exports worth 3.3 billion RM (about 717 million USD) to Vietnam.
Exporters advised to update trade policies of Singapore

Exporters advised to update trade policies of Singapore

The Vietnam Trade Office in Singapore has advised Vietnamese exporters to carefully study and keep updated on new regulations in Singapore, a market that is becoming more cautious in trade policy, in order to further exploit this market.

More News

Import and export turnover increases to US$ 51 billion

Import and export turnover increases to US$ 51 billion

VCN – Import-export turnover in June saw a slight decrease but remained at a high level, the General Department of Vietnam Customs announces.
Green logistics – a key for sustainable development

Green logistics – a key for sustainable development

Green logistics development is no longer a trend, it is an inevitable requirement with activities throughout the stage of purchasing raw materials, production, distribution, delivery, waste treatment - throughout the entire business life cycle.
Manufacturing enterprises need to adapt to trends to develop: experts

Manufacturing enterprises need to adapt to trends to develop: experts

Besides the factors of price, product quality and delivery time, green and sustainable development are competitive criteria that more and more markets are requiring from suppliers in Ho Chi Minh City as well as across the country.
Rubber exports grows sharply in June

Rubber exports grows sharply in June

VCN - According to Import – Export Tax Department (Ministry of Industry and Trade), Vietnam's rubber exports in June 2024 reached about 150 thousand tons, worth 238 million USD, up 77.6% in volume and 76.6% in value. Price compared to May 2024.
Prioritize stimulating domestic consumption to promote economic growth in 2024

Prioritize stimulating domestic consumption to promote economic growth in 2024

VCN - According to General Director of the General Statistics Office Nguyen Thi Huong, in the context of many difficulties in the world economy, the export growth rate is slowing down, many businesses are facing a shortage of orders..., priority should be given to stimulating demand. Domestic consumption is considered an important solution to promote economic growth in 2024.
Exports fruit and vegetable expects to exceed US$ 7 billion

Exports fruit and vegetable expects to exceed US$ 7 billion

VCN - In the first half of 2024, fruit and vegetable export turnover reached nearly US$3.5 billion. Key markets recorded an increase of 10-50% over the same period in 2023. This is also the industry that holds the leading position in exports of agricultural products.
Việt Nam, Philippines agree to establish a rice industry alliance

Việt Nam, Philippines agree to establish a rice industry alliance

Agriculture ministers of Việt Nam and the Philippines agreed to establish a rice industry alliance between the two countries and upgrade the trade relationship into an investment partnership.
"Good oppotunities" for export to Asia - Africa markets

"Good oppotunities" for export to Asia - Africa markets

VCN - The Asia-Africa region is always an important market for Vietnam. These are two markets considered suitable for Vietnamese goods, including the Red River Delta, to expand their market share in the near future.
Ample space for Vietnam to boost exports to the US, experts

Ample space for Vietnam to boost exports to the US, experts

Vietnamese exports to the United States (US) such as computers and parts, electronics, machinery and equipment, garments and footwear have ample room to grow, according to trade experts.
Read More

Your care

Latest Most read
Building the Vietnamese brand associated with green and sustainable development

Building the Vietnamese brand associated with green and sustainable development

VCN - According to experts, in the current context, branding becomes even more urgent, helping to increase endogenous resources for businesses, helping businesses move towards strong development, gradually reaching further in the domestic and world market
Improving the competitiveness of businesses is an important factor

Improving the competitiveness of businesses is an important factor

VCN - Local competitiveness is not only based on economic management capacity, the favorable and friendly business environment and efforts to improve administrative reform efforts of provincial and city governments (PCI) but also relies on the competitive
Malaysia to boost exports to Vietnam

Malaysia to boost exports to Vietnam

The Malaysian Ministry of Investment, Trade and Industry (MITI) on July 11 announced that the country has secured potential exports worth 3.3 billion RM (about 717 million USD) to Vietnam.
Exporters advised to update trade policies of Singapore

Exporters advised to update trade policies of Singapore

The Vietnam Trade Office in Singapore has advised Vietnamese exporters to carefully study and keep updated on new regulations in Singapore, a market that is becoming more cautious in trade policy, in order to further exploit this market.
Import and export turnover increases to US$ 51 billion

Import and export turnover increases to US$ 51 billion

VCN - In June, Vietnam’s total import and export turnover declined 1.3% month-on-month to US$ 64.12 billion.
Mobile Version