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China Becomes the Third Largest Importer of Vietnamese Non-wood Furniture

The export value of Vietnam wood products and furniture ranks the first in Southeast Asia, the second in Asia and the fifth in the world. Chen Guoqing, the deputy minister of the Ministry of Industry and Trade of Vietnam, said that Vietnam pursues to achieve its goal of increasing the wood product & furniture export value to USD20 billion by 2025, taking a market share of 10%.

 

Besides solid wood furniture, non-wood furniture also contributes a lot to the total export of Vietnamese furniture. In recent years, the export of non-wood products continuously grows, its export value in 2018 exceeded USD 1 billion, increasing by 14.4% than that in 2017.

 

In December 2018 alone, the export value of non-wood furniture increased by 14.8% on the basis of the previous month, announcing three consecutive months of growth for the product.

 

Vietnam mainly exports its non-wood furniture to Australia, Southeast Asian countries and China, etc. As the third largest export market, China consumed its non-wood furniture of an export value of USD14.27 million, showing a 5.08% year-on-year increase. In December 2018 alone, Vietnam exported non-wood furniture with the value of USD1.84 million to China, 22.15% more than the previous month and 18.41% more than the same period in the last year.

 

Noticeably, in 2018, the export of Vietnamese non-wood furniture to Kenya, the Philippines and Taiwan surged with the annual value of USD89,100, USD1.05 million and USD7.38 million, increasing 82.12%, 71.88% and 50.19% respectively on a year-on -year basis.

 

(Source: JJgle.com)