Statistics compiled by customs agencies indicate that Vietnam raked in more than US$6.42 billion from exporting wood and wooden furniture during January – May, representing an increase of 42% compared to the same period from last year. This growth is exemplified by the export turnover of wooden furniture skyrocketing by nearly 57% to US$4.96 billion.
Deputy Minister of Agriculture and Rural Development Ha Cong Tuan attributes this impressive growth to the fact that local firms have strengthened their online trading whilst foreign customers have also placed greater trust in seeking additional supply sources from Vietnam.
Bui Chinh Nghia, vice director of the Vietnam Forestry Administration under the Ministry of Agriculture and Rural Development, emphasised that there remains plenty of room to boost wood exports in the global market as Vietnamese exports of timber and timber products only make up about 9% of the overall market share.
Vietnam has become one of the world's leading countries in terms of exporting wooden furniture, with markets spanning 140 countries and territories globally.
Nguyen Van Sang, director of Viet Products Import-Export Joint Stock Company in Ho Chi Minh City, says the main purchasers of Vietnamese products are typically importers from the United States and the European Union who have placed more orders compared to the previous year.
The company also has new customers in the US market this year, with the number of orders rising by roughly 30% compared to the same period from last year.
Nguyen Chanh Phuong, vice president and general secretary of the Ho Chi Minh City Fine Arts and Wood Processing Association (HAWA), also reveals many local firms under the association have also received orders from foreign importers until the end of the year.
According to importers, social distancing measures imposed by several countries have forced many employers to work from home, leading to a high demand for furniture, beds, and cabinets.
Moreover, Vietnamese wooden furniture proves to be popular among customers as they trust that the products fully comply with regulations on origin traceability, leading to a recent increase in exports of wooden furniture.