US Imports over 38 per cent of Vietnam Woodwork

The US continued keeping the first position in importing Vietnamese woodwork products with total import revenue in the first seven months of 2007 climbing to US$508.3 million, up 27.7 per cent on year, and accounting for 38.8 per cent of the country’s total.

 

According to official report by the General Customs House, indoor wooden furniture items like bad, wardrobe, and dressing table were most favorites.

 

Japan won second position as its expenditure on Vietnamese woodworks in Jan-Jul period was US$117.8 million, up 18.7 per cent from that of last year. Following was the UK who imported US$120.6 million worth of woodworks from Vietnam, up 36.4 per cent.

 

Neighboring China ranked fourth with $88.8 million in seven months, but making a surprising rise 127 per cent against the first seven months of 2006. However, it mostly imported timber, material plank, tiny wood and fine arts.

 

Vietnam’s export of woodwork products also increased at other traditional markets such as South Korea (up by 24.3 per cent to $48.6 million), Germany (up by 22.1 per cent to $47.84 million), and Canada (up by 36.1 per cent to $23.2 million).

 

Vietnam exported $1.31 billion worth of woodwork products in the first seven months of 2007, up 23 per cent against that of last year.

 

In August alone, woodwork export was estimated to bring in $185 million, raising the country’s total earning from the product to nearly $1.5 billion, fulfilling 74.6 per cent of the year’s plan.

According to figures from the General Statistics Office, Vietnam exported only $16.1 million worth of woodwork products to US in 2001, accounting for only 0.06 per cent of total woodwork supply in this huge market. The figure rose to $44.7 million in 2002 or up by 178 per cent, accounting for 10 per cent of Vietnam’s total woodwork export revenue.

 

The US consumed 20 per cent ($116 million) of Vietnam’s total in 2003. In 2005, the US surpassed the EU and Japan to become the biggest consumer of Vietnamese woodwork products with total expense reaching $697 million, occupying 79 per cent.

 

Last year, the US contributed as many as $902.5 million to Vietnam’s total earning from woodwork exports, which was more than $2.2 billion. (www.vinanet.com.vn))