Vietnam’s exports of wooden frame chairs sharply increase

According to the estimates of the Agency of Foreign Trade under Ministry of Industry and Trade (MOIT), Vietnam’s exports of wooden frame chairs in December 2020 reached US$ 317 million, up 3.9% and 3.5% compared to November 2020 and December 2019 respectively. In 2020, export value of wooden frame chairs is estimated to reach US$ 2.65 billion, up 30.8% compared to 2019.

2020 is a successful year for Vietnam’s wood industry in general and wooden frame chairs in particular. Despite the outbreak of Covid – 19, export value of wooden frame chairs decreased only in April and May 2020.

As from June 2020, wooden frame chair exports have continuously regained its increase. This shows that wooden frame chair manufacturers have met the requirements of consumer markets.

Wooden frame chair exports to most major markets increased in value in 2020. In which, export value to the US market accounts for the largest proportion. In the first eleven months of 2020, wooden frame chair exports to the US achieved US$ 1.79 billion, up 44.3% against same period in 2019, accounting for 76.9% of total export value of wooden frame chairs.

Besides the US, markets ranked as top 10 importers of Vietnam’s wooden frame chairs in the first eleven months of 2020 are Japan (US$ 112 million), Korea (US$ 76 million), Canada (US$ 47 million), Germany (US$ 35 million), UK (US$ 32 million), Australia (US$ 31 million), France (US$ 23 million), China (US$ 17 million) and Netherlands (US$ 14 million).

According to the Agency of Foreign Trade (MOIT), following the success of 2020, the prospects of wooden frame chair export in 2021 shows many positive signals due to the high market demand after a long time being restrained by the pandemic. Additionally, the interrupted production in many major markets due to the pandemic has led to the break of supply chain. This is a great opportunity for local exporters to boost export in the coming time.

The global market for wooden frame chairs is very large and tends to grow well. According to statistics of the International Trade Center (ITC), global imports of wooden frame chairs accounted for 31.6% of total imports of wooden furniture and reached US$ 21.5 billion in 2018.

The average growth rate of wooden frame chairs for the period 2016 – 2018 achieved 7.9% per year. The proportion of global imports of wooden frame chairs gradually increased over the years 2016 -2018.

The US and EU are the two largest markets of wooden frame chairs in the world. US imports of wooden frame chairs has a high average growth of 12% and that of EU has an average growth of 5.2% in the period 2016 -2018.