Vietnam exported $7.4 billion worth of furniture to the U.S. last year, compared to China's $7.33 billion, according to data from U.S. magazine Furniture Today. This marked a 31 percent year-on-year surge for Vietnam, while that of China fell 25 percent.
The shift has happened over the past two and a half years with the U.S. imposing tariffs as high as 25 percent on almost all furniture categories from China, pushing manufacturers to move out.
In 2018 and 2019, Vietnam's furniture shipments to the U.S. rose by double digits each year, while that of China fell by double digits.
“That doesn't surprise me at all,” said Fred Henjes, CEO of Riverside Furniture Corp. “We are no longer buying products out of China, and I know there are many others besides us.”
Strong import categories of this company from Vietnam include bedroom, dining room and home office furniture, Furniture Today quoted him as saying.
Another company, Klaussner Home Furnishings, sources all of its wood furniture from Vietnam now. Its sales in the wood segment from Vietnam were up 10 percent last year.
The U.S. was Vietnam's largest export market in the first four months at $30.3 billion, up 50 percent, followed by China at $16.8 billion, up 32.4 percent.
- Canadian market holds potential for wooden furniture exports: Experts
- Vietnam remains China’s biggest trader in ASEAN
- Vietnam might become largest manufacturing facility of Samsung
- Vietnam seeks to bolster rice exports to Africa
- Vietnam likely to gain export target for timber and wooden products
- Export turnover lends country further surplus in spite of snags
- Vietnamese businesses told to export to US through Amazon during pandemic
- VIETNAM'S BUSINESS NEWS HEADLINES OCTOBER 19
- VIETNAM'S BUSINESS NEWS HEADLINES SEPTEMBER 13
- VIETNAM'S BUSINESS NEWS HEADLINES OCTOBER 23
- Vietnam likely to gain export target for timber and wooden products this year: experts
- Viet Nam likely to gain export target for timber and wooden products this year: experts
Vietnam replaces China as largest furniture exporter to US have 310 words, post on e.vnexpress.net at May 4, 2021. This is cached page on VietNam Breaking News. If you want remove this page, please contact us.