Wooden furniture export turnover may reach US$17.5 billion in 2024

VGP – The export value is likely to set a new record of US$17.5 billion in 2024, according to the General Department of Viet Nam Customs (GDVC).

In the January-June period, overseas shipment of wood products valued US$7.5 billion, representing a year-on-year increase of 23.1 percent. Specifically, furniture products pocketed US$5.066 billion, up 22.2 percent against the same period last year.

The U.S. was the biggest importer of made-in-Viet Nam wood and wood products, up 24.5 percent against the same period last year, followed by China with US$1.05 billion (up 49.3 percent), Japan US$796.8 million (down 2.2 percent) and South Korea with US$389.2 million (down 1.4 percent).

The Department of Import-Export under the Ministry of Industry and Trade reported that the U.S. accounted for around 53 percent of Viet Nam’s total export turnover.