Producing wooden furniture for export at Trieu Phu Loc Furniture Co., Ltd, Tan Uyen town, Binh Duong province (Photo: VNA) Vietnam is followed Malaysia with 101.9 million USD and Indonesia with 61.7million USD.
The proportion of wooden furniture imports from these three markets accountedfor 22.9% of the total value of wooden furniture imports into Australia.
The Import-Export Department, Ministry of Industry and Trade, quoted statisticsfrom the General Department of Customs saying that the export value of woodenoffice furniture reached 28.4 million USD in December, a year-on-year decline of28.6%.
The export value of wooden office furniture reached 370.3 million USD lastyear, down 15.9% over the same period in 2021.
In the structure of wooden furniture exports last year, office furniture is theitem with the strongest decline because exports to major markets such as theUS, Japan, China and the UK plummeted.
Office furniture exports were the largest to the US market last year, reaching 225.4million USD, down 13.6% over the previous year.
Export value to the US accounted for 60.9% total export value of officefurniture, followed by the Japanese market with 67.7 million USD; the Chinesemarket with 15.9 million USD; and the UK with 13.6 million USD.
High inflation has made consumers prioritise spending on food and essentialgoods, thereby cutting spending on office furniture.
In addition, high freight rates, along with a sharp rising in the purchaseprice of raw wood, increased production costs, making it more difficult forVietnamese office furniture manufacturers.
The Import-Export Department said that the export prospect of wooden officefurniture would also not be positive this year when the global economicsituation was forecasted to continue to face many difficulties.
However, statistics from the International Trade Centre (ITC) show thatAustralia's imports of wooden furniture reached 1.6 billion USD in the 11months of last year, a year-on-year growth of 4.9%.
The Import-Export Department said that even though Australia was one of themost demanding markets in the world with many certification requirements, highproduct quality standards, and strict import processes, its consumers had ahigh standard of living and were willing to pay for high-priced imported itemsif they were satisfied with the product.
Therefore, to penetrate the Australian market, exporters needed to give toppriority to product quality instead of price, said the department, while,understanding customer tastes and focusing on building a solid brand for woodenfurniture products./.
VNA
