Vietnam is the largest wooden furniture supplier to the US in the first 6 months of 2021, reaching $ 4.9 billion, up 81.9% over the same period in 2020. This shows that the Vietnamese products have met the needs of US consumers.
Despite facing many difficulties due to Covid-19 in recent months, according to data from the Import-Export Department (Ministry of Industry and Trade), in the first 8 months of the year, the export value of wood and wood products is still estimated at 10 .43 billion USD, up 41.9% over the same period in 2020. In which, export of wood products was estimated at 8.03 billion USD, up 46.7% over the same period in 2020.
Notably, since the beginning of the year, Vietnam’s wooden furniture exports to the US market have recorded impressive growth.
According to calculations from statistics of the United States International Trade Commission (USITC), in the first six months of 2021, the United States’ imports of wooden furniture reached $12.4 billion, up 64, 6% over the same period in 2020.
Vietnam is the largest wooden furniture supplier to the US in the first 6 months of 2021, reaching $ 4.9 billion, up 81.9% over the same period in 2020.
The rapid increase in US wooden furniture imports from Vietnam shows that Vietnamese products have met the needs of US consumers. However, the fast growth rate to the US market also has many potential risks for the wood industry.
Currently, the Trade Remedies Administration (Ministry of Industry and Trade) has updated a warning list of 10 products at risk of being subject to measures to combat evasion, origin fraud, illegal transshipment or defense measures. commercial, in which there are 3 wood products including: Plywood from solid wood materials, wooden cabinets, sofas with wooden frames.
These products are built on the basis of monitoring the export movements of goods that have been subject to trade remedies or other trade restrictive measures by the export market with a third country but have not yet been applied for Vietnam.
“Therefore, it is necessary to monitor the issuance of certificates of origin and declaration of origin and continue to monitor the risk of anti-tax evasion investigations and trade remedies for these products,” Representative of the Department of Import and Export said.