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Vietnam has many advantages to export wooden furniture to the UK market

07/01/2022

In the first 10 months of 2021, the UK's imports of wooden furniture from Vietnam market reached USD 303.7 million, an increase of 35.7%, accounting for 7.5% of the total import value of wooden furniture of the UK. There are many advantages for Vietnamese enterprises to promote the export of wooden furniture to the UK market.

The Import-Export Department (Ministry of Industry and Trade) cited statistics from the International Trade Center (ITC) that Britain's wooden furniture imports in the 2016-2020 period reached an average of USD 5.17 billion/year, average growth of 2.7%/year. 10 months of 2021, the UK's import value of this product reached USD 4.03 billion, an increase of 39.3% over the same period in 2020. Thus, even in the context of the complicated developments of the Covid-19 pandemic, the demand for wooden furniture imported into the UK is still strong.

The UK imports mainly living room and dining room furniture; wooden frame chair, kitchen furniture.

There are many advantages for Vietnamese enterprises to promote the export of wooden furniture to the UK market. First of all, the import demand for this product has increased sharply in the UK even in the context of complicated pandemic developments; the value of UK's wooden furniture imports from Vietnam accounts for a small proportion; After Brexit, the new trade relationship between the UK and the EU is no longer as favorable as in a common market, therefore, British businesses actively seek new sources of supply and new markets, including Vietnam.

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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