Vietnam: Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size in Vietnam

The Vietnamese wooden office furniture market surged to $X in 2021, picking up by 36% against the previous year. The market value increased at an average annual rate of +3.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Wooden office furniture consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Wooden Office Furniture Production in Vietnam

In value terms, wooden office furniture production soared to $X in 2021 estimated in export price. Over the period under review, production posted a resilient expansion. The pace of growth was the most pronounced in 2019 when the production volume increased by 86% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Wooden Office Furniture Exports

Exports from Vietnam

Wooden office furniture exports from Vietnam soared to X units in 2021, rising by 31% against the previous year. In general, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 780%. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, wooden office furniture exports surged to $X in 2021. Over the period under review, exports posted prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 959% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for wooden office furniture exports from Vietnam, with a 60% share of total exports. Moreover, wooden office furniture exports to the United States exceeded the volume sent to the second major destination, Japan (X units), threefold. The third position in this ranking was taken by China (X units), with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +23.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+10.5% per year) and China (+28.1% per year).

In value terms, the United States ($X) remains the key foreign market for wooden furniture of a kind used in offices exports from Vietnam, comprising 60% of total exports. The second position in the ranking was taken by Japan ($X), with a 17% share of total exports. It was followed by China, with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +23.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+10.7% per year) and China (+28.3% per year).

Export Prices by Country

The average wooden office furniture export price stood at $X per unit in 2021, picking up by 3.9% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 30%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the average export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were Australia ($X per unit) and Japan ($X per unit), while the average price for exports to South Korea ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.2%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Office Furniture Imports

Imports into Vietnam

In 2021, the amount of wooden furniture of a kind used in offices imported into Vietnam fell markedly to X units, which is down by -17.9% against 2020. In general, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 211% against the previous year. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, wooden office furniture imports rose modestly to $X in 2021. Overall, imports, however, recorded a prominent increase. The pace of growth appeared the most rapid in 2015 when imports increased by 159% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of wooden office furniture to Vietnam, accounting for a 46% share of total imports. Moreover, wooden office furniture imports from China exceeded the figures recorded by the second-largest supplier, India (X units), threefold. The third position in this ranking was held by South Korea (X units), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+465.0% per year) and South Korea (+33.7% per year).

In value terms, China ($X) constituted the largest supplier of wooden furniture of a kind used in offices to Vietnam, comprising 73% of total imports. The second position in the ranking was taken by India ($X), with a 6.5% share of total imports. It was followed by South Korea, with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +18.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+272.6% per year) and South Korea (+15.6% per year).

Import Prices by Country

In 2021, the average wooden office furniture import price amounted to $X per unit, picking up by 25% against the previous year. Overall, the import price, however, recorded a pronounced decline. The growth pace was the most rapid in 2014 an increase of 28%. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+4.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :