The US is one of the most important markets for Viet Nam's furniture and wood products. – Photo ttv.com.vn 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. Nguyen Hoai Bao, 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… Read full this story
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