Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Vietnam - 2022
Contents:
- Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Vietnam (FOB) - 2022
- Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Vietnam (CIF) - 2022
- Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Vietnam
- Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Vietnam
Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Vietnam (FOB) - 2022
In 2022, the average export price for furniture; wooden, other than for office, kitchen or bedroom use amounted to $77 per unit, which is down by -17.2% against the previous year. In general, the export price showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 when the average export price increased by 44%. The export price peaked at $153 per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($107 per unit), while the average price for exports to the UK ($69 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+2.1%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Vietnam (CIF) - 2022
The average import price for furniture; wooden, other than for office, kitchen or bedroom use stood at $87 per unit in 2022, growing by 13% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 46%. The import price peaked at $99 per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($98 per unit), while the price for the United States ($32 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Vietnam
In 2022, shipments abroad of furniture; wooden, other than for office, kitchen or bedroom use decreased by -29% to 33M units for the first time since 2018, thus ending a three-year rising trend. Overall, total exports indicated pronounced growth from 2019 to 2022: its volume increased at an average annual rate of +3.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when exports increased by 37% against the previous year. Over the period under review, the exports of reached the maximum at 46M units in 2021, and then shrank rapidly in the following year.
In value terms, exports of furniture; wooden, other than for office, kitchen or bedroom use declined remarkably to $2.5B in 2022. In general, exports recorded a deep contraction. The pace of growth appeared the most rapid in 2020 with an increase of 17%. Over the period under review, the exports of attained the peak figure at $4.3B in 2021, and then declined dramatically in the following year.
| Export of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,962 | 2,579 | 3,029 | 1,795 | -2.9% |
| Japan | 266 | 265 | 248 | 139 | -19.5% |
| United Kingdom | 266 | 187 | 241 | 134 | -20.4% |
| Canada | 97.9 | 119 | 161 | 81.6 | -5.9% |
| Australia | 76.3 | 77.9 | 80.7 | 54.9 | -10.4% |
| France | 63.5 | 58.0 | 66.2 | 45.7 | -10.4% |
| Germany | 56.1 | 60.8 | 69.8 | 39.0 | -11.4% |
| Others | 373 | 349 | 358 | 211 | -17.3% |
| Total | 3,161 | 3,696 | 4,254 | 2,500 | -7.5% |
Top Export Markets for Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use from Vietnam in 2022:
- United States (22.6M units)
- United Kingdom (1.9M units)
- Japan (1.8M units)
- Canada (1.2M units)
- France (0.6M units)
- Germany (0.6M units)
- Australia (0.5M units)
Imports of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Vietnam
In 2022, after three years of growth, there was significant decline in purchases abroad of furniture; wooden, other than for office, kitchen or bedroom use, when their volume decreased by -45% to 455K units. In general, imports, however, showed a strong increase. The pace of growth was the most pronounced in 2021 with an increase of 177% against the previous year. As a result, imports reached the peak of 828K units, and then dropped significantly in the following year.
In value terms, imports of furniture; wooden, other than for office, kitchen or bedroom use contracted rapidly to $40M in 2022. Overall, imports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of 145% against the previous year. As a result, imports attained the peak of $64M, and then contracted significantly in the following year.
| Import of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 19.8 | 16.5 | 36.6 | 32.0 | 17.4% |
| Italy | 3.1 | 3.5 | 9.5 | 1.8 | -16.6% |
| France | 0.3 | 0.1 | 0.8 | 1.3 | 63.0% |
| India | 0.4 | 1.2 | 3.9 | 0.8 | 26.0% |
| Singapore | 0.5 | 0.4 | 0.6 | 0.7 | 11.9% |
| Malaysia | 0.7 | 1.0 | 1.7 | 0.7 | 0.0% |
| United States | 0.3 | 0.6 | 0.8 | 0.4 | 10.1% |
| Indonesia | 0.5 | 0.2 | 1.6 | 0.2 | -26.3% |
| Lao People's Democratic Republic | 1.6 | 1.2 | 5.0 | N/A | 76.8% |
| Others | 1.8 | 1.5 | 3.5 | 1.7 | -1.9% |
| Total | 28.9 | 26.1 | 64.0 | 39.6 | 11.1% |
Top Suppliers of Furniture; Wooden, Other than for Office, Kitchen or Bedroom Use to Vietnam in 2022:
- China (359.9K units)
- Italy (18.7K units)
- India (14.6K units)
- France (14.3K units)
- United States (12.3K units)
- Malaysia (10.0K units)
- Singapore (7.6K units)
- Indonesia (2.2K units)
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