The US is one of the most important markets for Việt Nam’s furniture and wood products. – Photo ttv.com.vn
HCM CITY — Export opportunities for furniture and wood products to the US will increase this year as many Americans continue to work at home amid the COVID-19 crisis.
Nguyễn Hoài Bảo, a member of the executive board of HCM City's Handicraft and Wood Industry Association (HAWA), said that in 2020 total export turnover of wood products reached over US$13 billion, more than 16 per cent higher than in 2019, despite the pandemic.
The US is one of most important markets for Vietnamese wood products, he told a conference in HCM City last week.
Thomas Russell, senior editor of the US magazine Furniture Today, said that current global logistics challenges include a shortage of containers. This has led to a spike in demand and prices, as well as the interruption of production flows due to manufacturers having to store goods in warehouses.
However, he noted that the furniture market in the US has shown positive signs, including high housing demand and a growing furniture market.
In five years, furniture and bedding sales in the US are expected to reach $143 billion, an increase of nearly 25.5 per cent from 2020.
“Travel and entertainment restrictions will keep people at home for the foreseeable future, and consumer demand remains high for furniture, home accents, and other types of home décor," Russell said.
Certain products are especially popular, such as wood furniture for home offices and casual dining pieces.
Dorothy Wayson, national policy manager for the Lacey Act Program for the Animal and Plant Health Inspection Service in the US, said that wood product exporters need to adhere to the US Lacey Act, which prohibits trade of wildlife and plant products (including wood products) that have been illegally harvested, owned or transported.
Exporters must declare information about their consignments such as the plant genus and species used in their products, and the country where the wood was harvested.
The conference was held by HAWA and the US Forest Service under the country’s Department of Agriculture.
The pandemic last year had little impact on wood product manufacturing, so Việt Nam’s wood product exports did not take a hit, according to Nguyễn Chánh Phương, deputy chairman and general secretary of HAWA. VNS