Orders for wooden furniture grow strongly compared to the beginning of the year

The wood furniture manufacturing and export industry is showing positive signs, and it is forecasted that there will be more favorable conditions at the end of this year and in 2025. Therefore, domestic enterprises need to understand clearly to calculate appropriate investment and production.

Producing wooden furniture for export at a company in Binh Duong - Photo: N.TRI

Mr. Tran Ngoc Liem, Director of the Vietnam Chamber of Commerce and Industry - Ho Chi Minh City branch, commented on the above at the press conference to inform about the 5th International Exhibition on Smart Furniture Solutions Vietnam 2024 - SFS Vietnam 2024, taking place on the afternoon of November 11.

According to Mr. Liem, in October 2024, export turnover wood and Vietnam's wood products are estimated to reach 1.5 billion USD, up 20% compared to September and up 16.6% over the same period. In the first 10 months of 2024, the industry's turnover reached 13.2 billion USD, up nearly 21% over the same period and approaching the target of 14.2 billion USD for the whole year of 2024.

Vietnam’s wood products have reached 170 markets worldwide, of which the five major markets are the US, Japan, China, South Korea and the EU, accounting for more than 90% of total wood export turnover. Vietnam has risen to the 5th position in the world in terms of total wood export turnover and the 2nd position in the world.

"Positive import-export figures are proof of the outstanding growth potential of Vietnam's wood industry.

At the end of 2024, orders for wooden furniture are growing well compared to the beginning of the year, and 2025 is forecasted to open up many good signals. Therefore, businesses need to increase promotion, and can calculate investment in machinery and production technology to meet demand," Mr. Liem emphasized.

Sharing the same view, Mr. Huynh Quang Thong, General Director of Hiep Long Wood Company (Binh Duong), said that the US market accounts for more than 40% of Vietnam's wooden furniture export turnover, this is a very important market, and Mr. Donald Trump's election as US President is expected to open up many advantages for Vietnam.

"The US may impose a tax of 10-60% on imported wooden furniture products, including products imported from Chinese market "We may still be subject to high tariffs from the US, and we expect the tax rate imposed on Vietnam to be low," Mr. Thong emphasized.

Ms. Duong Thi Tu Trinh, Director of BIFA Trading and Service Joint Stock Company, assessed that the opportunities for the Vietnamese wood furniture manufacturing industry are positive, especially many manufacturing units have chosen to strongly improve technology and machinery, most of which are smart technologies from China.

"This exhibition will attract many international businesses to introduce advanced solutions in the field of digital technology for interior and exterior furniture production, helping to increase productivity and improve product quality in the production process. This is very useful for Vietnamese businesses."

Sharing at the press conference, Mr. Nguyen Truong Thi, Deputy Director of the Department of Industry and Trade of Binh Duong province, said that in the first 10 months of 2024, the export turnover of Binh Duong's wood processing industry reached more than 5.4 billion USD, an increase of 24.1% over the same period, accounting for 19% of the province's export turnover.

Enterprises aim to increase export value in 2025, especially to large markets such as the US, EU, Japan, and China.

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