Vietnam Woodwork Export to U.S. Forecast to Drop over 22 per cent in 2009

Economic downturn will reduce Vietnam’s export of woodwork products to the U.S. market by 22.19 per cent in 2009, according to the Vietnam Trade Information Center.

 

Of which, export of wooden furniture, the key export item to the market, is forecast to decrease 22.2 per cent.

 

In 2008, Vietnam exported US$1.11 billion worth of woodwork to the U.S., up 18.87 per cent from 2007, including US$960 million from wooden furniture.

 

In Jan-Feb, Vietnam’s woodwork export to the U.S. reached US$122.9 million, down 8.4 per cent on year. Of which, export of bed room furniture was US$28.6 million, down 21.9 per cent; export of living-room, US$11.2 million, down 11.8 per cent; kitchen furniture, US$670,000, down 58.1 per cent and office furniture, US$2.9 million, down 31 per cent.

 

The U.S. is the biggest importer of Vietnamese woodwork in the past years with revenue rising from US$902.5 million in 2006 to nearly US$934 million in 2007. (Vinanet)