Source: Vietnambiz.vn
The latest issue of the Agricultural, Forestry, and Fishery Market Bulletin of the Import and Export Department (Ministry of Industry and Trade), with data from the US International Trade Commission, said the value of wooden furniture imports of America in September 2020 it was 1.89 billions USD, up 29.8% compared to September 2019.
Notably, compared to the previous month, this is the 4th consecutive month America increased imports of wooden furniture, compared with the same period 2019, this is the second consecutive month America import of this item increased.
However, for the first 9 months of 2020, wooden furniture’s import America reached 12.8 billions USD, down 7.2% over the same period period year 2019.
In September 2020, America increased imports of wooden furniture from Southeast Asian markets such as Vietnam, Malaysia, Indonesia and Thailand. In which, the value of imports from Vietnam reached 749.9 million USD, up 65.6% compared to September 2019.
Next is the market Malaysia reaching 161.5 million USD, up 94.8%; Indonesia reached 66.3 million USD, up 22.5% and Thailand reached 27.5 million USD, up 153.7% compared to September 2019.
According to the Import and Export Department though the impact of the epidemic COVID-19 but demand for wooden furniture’s item America still growing strongly in the past 2 months. Due to the epidemic situation made people America stay in the house more and they have the need to renovate the house, buy new furniture to replace with synchronized consumption habits.
This is an opportunity for Vietnamese wood enterprises to promote export to the market America. However, businesses also need to pay attention, America very strict in tax evasion and commercial fraud.
In the first 9 months of 2020, Southeast Asia is still the market that supplies wooden furniture for the US market with the highest growth rate.
Vietnam is the leading market with a proportion accounting for 36.6% of the total import value of wooden furniture from the US, up 9.7 percentage points over the same period in 2019. Next is the Malaysian market accounting for 7.3%; Indonesia accounts for 4.2% and Thailand 1.5%.
In terms of products, in September 2020, America Importing almost all wooden furniture products, the growth rate of these items is high, except for office furniture.
In the first 9 months of 2020, wooden furniture’s importers America are all down. Bedroom furniture has the lowest rate of drop compared to wooden furniture’s items America, reaching 2.5 billions USD, down 5.3% over the same period period year 2019.
Vietnam is the largest market for bedroom furniture AmericaImport of this item from Vietnam reached 1.24 billions USD, down 7.3% over the same period period year 2019.
Tdeflate Imports from Vietnam accounted for 49.1% of the total bedroom furniture’s import value America. Wooden frame chairs are the item billions weighted in the structure of wooden furniture items America in the first 9 months of 2020, reaching 4.28 billions USD, down 7.4% over the same period period year 2019.
America wood frame chair imports the most from China, reaching 1.6 billions USD, down more than 31% over the same period period in 2019. Meanwhile, imports from Vietnam with the second largest value reached 1.54 billions USD, up nearly 41% over the same period period year 2019.
