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An increase in wooden products exports is expected this year > Articles & News
23 March 2018
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Articles & News Articles & News

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An increase in wooden products exports is expected this year

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An increase in wooden products exports is expected this year

An increase in wooden products exports is expected this year
Exports of wood and wooden products have increased by 12.3 per cent a year on average for the past seven years, reaching 7.66 billion dollars last year. So, global furniture demand was worth more than 428 billion dollars last year. Trade in furniture amounted to 141 billion dollars last year, with China being the largest exporter, accounting for 35 per cent, followed by Germany, Italy, Poland, and Viet Nam.

But among the main furniture production areas, only the Asia-Pacific saw positive production growth. With reasonable economic growth, global wooden furniture consumption and trade are forecast to grow by 3.5 per cent and 4.1 per cent this year. Exports from Viet Nam accounted for only 6 per cent of the figure, meaning there is considerable scope for Vietnamese firms to increase their market share.

Acording to Huynh Van Hanh (permanent deputy chairman of the Handicraft and Wood Industry Association of HCM City), to capitalise on the demand, woodworking firms need to invest more in upgrading their production technologies and embrace automation to improve productivity, ensure consistent quality and resolve their labour shortage problem. They need to improve their design capacity to add more value to their products and improve their management skills. Firms should pay more attention to the middle high-end segment and be developing multi-functional wooden products for the US and EU markets.

Source article and image:
March 07, 2018