Vietnam has surged to the sixth position in global furniture production, as reported by the Italy-based Center for Industrial Studies. This marks a significant rise from its 13th position in 2014. The top five producers are China, the U.S., Italy, Germany, and India, with China and the U.S. maintaining their dominance for over a decade.
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Vietnam's furniture industry has experienced remarkable growth, outpacing all others in the past decade, according to Giovana Castellina, a senior partner at CSIL. Initially focused on outdoor furniture, Vietnam has now expanded into interior furniture production, with upholstered furniture making up 25% of its products, constituting 10% of the Asia-Pacific region's output.
Exports are the primary driver of this growth, accounting for 93% of total production. Furniture exports make up the majority of Vietnam's wood and wood products exports, totaling US$8.4 billion, as reported by the Department of Forestry. Notably, Tran Duc Homes has begun exporting prefabricated wooden houses to the U.S. and invested in Southeast Asia's first production line for cross-laminated timber, providing alternatives to traditional reinforced concrete.
Source: vnexpress