Vietnam becomes Asia’s biggest exporter of timber furniture
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.
