Vietnam becomes Asia’s biggest exporter of timber furniture

Jul 18, 2008. /Lesprom.com/. Vietnam has become the biggest furniture exporter in the Asia’s market, according to the Ministry of Industry and Trade. The ministry was quoting figures from the American Hardwood Export Council. The export turnover of locally made wood products reached $2.5 billion in 2007 and may reach $3 billion in 2008, the Ministry said. Vietnamese as well as Chinese products are seen as having high quality and good design. Export turnover in the first half of the year for Vietnamese wood products reached $1.36 billion, an increase of 20.4% over the previous year. This turnover accounted for nearly 46% of the total export target for 2008. Export turnover from products sold in the US, the largest importer of Vietnamese furniture, amounted to $450 million. In the first half of the year, export turnover for the US market increased 16.6% compared to the same period in 2007. The major importers of Vietnamese furniture are Japan, China and Europe. Vietnam has a total of 937 companies involved in export of wood products including furniture, a year-on-year increase of 21%. Foreign-invested wood companies led in export value.