Vietnam’s wood and wooden products are popular among American importers

According to the Department of Import and Export (Ministry of Industry and Trade), in the first two months of this year, wood and wooden products exports continue to increase strongly toward American markets, reaching US$ 1.37 billion, up 69.6% over the same period in 2020. This shows that the US large demand for Vietnamese wood and wooden products remains, and Vietnamese wooden products are qualified for the standards given out by the US markets.

Consumption demands for wood in the US, especially wooden furniture, are skyscraping due to the strong growth of the housing market in the country. In 2020, despite the enactment of social distancing so as to prevent the spread of the Covid-19 pandemic, the US housing market still had a 6% increase compared to 2019.

In the year 2021, the implementation of the Covid-19 vaccination and the economic recovery will encourage the housing market in the US to grow strongly, as well as the demand for indoor furniture.

At the “Lacey ACT - Opportunities to export wooden products and artistic handicrafts to the US in 2021” held by the Handicraft and Wood Industry Association of Ho Chi Minh City (Hawa) in collaboration with the US Forest Service at the beginning of March 2021, Mr. Thomas Russell, senior editor of the Furniture Today Magazine said that due to the influence of the Covid-19 epidemic, the US markets for wooden products and furniture had many fluctuations, some of the supply sources were interrupted and the consumer trend had changed. However, the market demands will positively recover in 2021 and the coming years.

In order to adapt to the new situation, American citizens will continue to work and study indoors, therefore, the flexible demands for furniture, meeting the requirements of working indoor, such as working desks, filing cabinets, bookshelves, will remain increasing.

The US housing market is on a strong trend to develop as the Government offers low-interest loans. The fact that many families prioritize building new or repairing their own houses also promotes the purchase of furniture, home decoration products, artistic handicrafts...

As stated by Mr. Thomas Russell, in 2020, the revenue of the furniture product group in the United States had reached US$ 115 billion and is predicted to reach US$ 143 billion around the next 5 years.

Mrs. Julie Hundersmarck, an expert of the US Forest Service, said that despite competition from many regions, US importers still prefer suppliers in Asia, including Vietnam.