Jakarta (VNA) - Indonesian furniture exporters are setting their sights on capturing 1% of the market share, following a significant decline in exports last year.
Global furniture sales are estimated to reach 729 billion USD in 2023, with a projected increase to 766 billion USD in 2024.
In 2023, Indonesia's furniture exports totaled 2.1 billion USD, marking a 23% decline from the previous year, according to data from the Indonesian Furniture and Handicraft Industry Association (Asmindo).
The US remains the largest export destination for Indonesia's furniture, accounting for 55% of exports.
According to Asmindo Chairman Dedy Rochimat, the association’s exports have been predominantly wooden furniture, comprising 68% of the overall furniture exports, with the US continuing to be the largest buyer.
The Indonesian furniture industry is actively working towards surpassing 7 billion USD in furniture exports in the coming years, aiming for approximately 1% of the global market share, he added.
To achieve this goal, the country needs to ensure an adequate supply of raw materials, invest in high-tech machinery, and enhance access to major markets such as the US and European countries, Dedy said./.
