https://www.worldfurnitureonline.com/research-market/furniture-industry-vietnam-0058553.html | Vietnam is one of the most dynamic countries in terms of growth in furniture production. The country has consolidated its position not only as for local companies performances, but also as an attractive option for offshore manufacturing for overseas companies. Vietnam is the second largest furniture exporter in Asia Pacific and the fifth worldwide, with a value of over USD 7 billion in 2016.

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THE FURNITURE INDUSTRY IN VIETNAM
Multiclient Research FURNITURE
March 2017
W05VN
UPHOLSTERED
& MATTRESSES
CONTRACT
& LUXURY
OFFICE
KITCHEN
& BATHROOM
ECOBUILDING
DESIGN
MAJOR APPLIANCES
LIGHTING FIXTURES
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2. GIOVANNA CASTELLINA
International Marketing Director
castellina@csilmilano.com
www.worldfurnitureonline.com
Today CSIL experts keep
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is primarily dedicated to the
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Fixtures & LED, major Home
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3. Contents
1. Vietnam. The Key Facts of the Furniture Sector 6
2. Vietnam. Furniture Market Potential 14
Furniture market outline, 2006-2016 14
Furniture consumption, 2006-2016 14
Economic environment forecasts, 2017-2018 15
Furniture market forecasts, 2017-2018 15
Vietnam and Asia-Pacific. Furniture market forecasts, 2017 15
3. Vietnam. Business Climate 16
Business climate rankings 16
Selected business climate indicators 16
4. Vietnam. Demand Determinants 17
Population, 2007-2020 17
Population by region, 2015 17
Vietnam and World population, 2015. Breakdown by age group 17
Population, 2007-2016 18
Urban population 18
Main cities 18
Resident population in main cities 18
Area of housing floors constructed by region, 2007-2014 19
Area of housing floors constructed by types of house, 2007-2014 19
Average dwelling area per capita, 2006-2014 19
International tourism, 2007-2014 19
Monthly average expenditure per capita at current prices 20
Monthly average income per capita at current prices by region, 2006-2014 20
Breakdown of monthly average expenditure per capita by type of expenditure 20
5. Vietnam. Furniture Consumption 21
Furniture consumption, 2006-2016 21
Furniture consumption by segment 21
6. Vietnam. Furniture Imports 22
Furniture imports and furniture consumption, 2006-2016 22
Imports/consumption ratio, 2006-2016 23
Furniture imports, 2006-2016 24
Imports/consumption ratio by segment 24
Furniture imports growth, 2006-2016 24
Origin of furniture imports, 2015 25
Main countries of origin of furniture imports, 2013-2015 26
Origin of furniture imports, 2005-2015 27
Origin of furniture imports, 2015 27
Furniture imports by area of origin, 2005 and 2015 27
Furniture imports by segment, 2010-2015 28
Main sources of furniture imports by segment, 2015 28
Furniture imports by segment, 2015 28
Imports and exports of furniture parts, 2010-2015 29
Origin of furniture parts, 2015 29
Destination of furniture parts, 2015 29
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4. Contents
7. Vietnam. Productive Factors 30
Forest Area 30
Forest resources: basic data 30
Distribution of land 30
Consumption of wood-based panels, 2006-2015 30
Imports of wood-based panels, 2006-2015 30
Imports of woodworking machinery, 2011-2015 31
Unemployment rate, 2006-2018 31
Percentage of trained employed workers in the manufacturing sector, 2009-2015 31
Employed population by economic activity, 2007-2016 31
8. Vietnam. Furniture Production 32
Furniture production, 2006-2016 32
Furniture production by segment 32
9. Vietnam. Furniture Exports 33
Furniture exports and furniture production, 2006-2016 33
Export/production ratio, 2006-2016 34
Furniture exports, 2006-2016 35
Exports/production ratio by segment 35
Furniture exports growth, 2006-2016 35
Destination of furniture exports, 2015 36
Main countries destination for furniture exports, 2013-2015 37
Main countries destination for furniture exports, 2005-2015 38
Main countries destination for furniture exports, 2015 38
Furniture exports by destination area, 2005 and 2015 38
Furniture exports by segment, 2010-2015 39
Main countries destination for furniture exports by segment, 2015 39
Furniture exports by segment, 2015 39
10. Vietnam. Competitive System 40
Furniture turnover in a sample of companies (FDI and Vietnamese owned companies), 2016 42
Major foreign furniture companies 44
11. Vietnam. Major Furniture Manufacturer 46
12. Vietnam. Other leading FDI and foreign companies 78
13. Vietnam. Other Furniture Companies 90
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5. Contents
Vietnam. Annexes 101
Annex 1. Vietnam. Country Rankings 102
Socio-Economic variables 102
Country attractiveness 102
Furniture sector size, 2016 102
Per capita furniture spending, 2016 102
Furniture growth rates, 2006-2016 average 102
Furniture market openness, 2016 102
Annex 2. Vietnam. Socio-Economic Data 103
Macroeconomic Trends 103
Exchange rates 103
Value added breakdown 103
International trade 103
Labour market indicators 103
Investment and Human Capital 103
Socio-demographic variables 103
Annex 3. Vietnam. Furniture Data 104
Production, exports, imports and consumption: Absolute values 104
Production, exports, imports and consumption: Year on year variations 104
Furniture sector openness: Ratios 104
Furniture Market Forecasts: Year on year variations 104
Annex 4. Vietnam. Furniture Exports 105
Exports of furniture by product, 2010-2015 105
Exports of furniture by country and by geographical area, 2010-2015 105
Exports of upholstered furniture by country and by geographical area, 2010-2015 106
Exports of non-upholstered seats by country and by geographical area, 2010-2015 106
Exports of bedroom furniture by country and by geographical area, 2010-2015 107
Exports of kitchen furniture by country and by geographical area, 2010-2015 107
Exports of office furniture by country and by geographical area, 2010-2015 108
Exports of furniture n.e.c. by country and by geographical area, 2010-2015 108
Exports of furniture parts excluding parts of seats by country and by geographical area, 2010-2015 109
Exports of parts of seats by country and by geographical area, 2010-2015 109
Exports of furniture parts by country and by geographical area, 2010-2015 110
Exports of furniture excluding parts by country and by geographical area, 2010-2015 110
Annex 5. Vietnam. Furniture Imports 111
Imports of furniture by product, 2010-2015 111
Imports of furniture by country and by geographical area, 2010-2015 111
Imports of upholstered furniture by country and by geographical area, 2010-2015 112
Imports of non-upholstered seats by country and by geographical area, 2010-2015 112
Imports of bedroom furniture by country and by geographical area, 2010-2015 113
Imports of kitchen furniture by country and by geographical area, 2010-2015 113
Imports of office furniture by country and by geographical area, 2010-2015 114
Imports of furniture n.e.c. by country and by geographical area, 2010-2015 114
Imports of furniture parts excluding parts of seats by country and by geographical area, 2010-2015 115
Imports of parts of seats by country and by geographical area, 2010-2015 115
Imports of furniture parts by country and by geographical area, 2010-2015 116
Imports of furniture excluding parts by country and by geographical area, 2010-2015 116
Annex 6. Vietnam. Methodological Notes 117
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6. Annex 6. Methodological Notes
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Methodological notes
Types of furniture covered
The furniture aggregate includes the following products:
 Office furniture: swivel seats with variable height adjustment, metal furniture of a kind used in offices, wooden furniture of a kind
used in offices
 Upholstered furniture: seats convertible into beds (excl. garden seats and camping equipment, and medical, dental or surgical
furniture), upholstered seats with wooden and metal frames
 Non upholstered seats: non-upholstered seats with wooden and metal frames (excl. swivel seats), seats of wood, cane, osier,
bamboo or similar materials, other seats (excl. seats for aircraft and for motor vehicles)
 Kitchen furniture: furniture of a kind used in kitchens (excl. seats), fitted kitchen units
 Bedroom furniture: cupboards, drawers, beds (excluding mattresses and mattress supports), bedside tables, bedroom storage
systems
 Furniture n.e.c.: furniture for dining-living rooms, other kinds of furniture for outdoor, garden and bathroom (excl. medical, dental,
surgical or veterinary, and seats), occasional furniture
 Furniture parts and seating parts: furniture parts (excl. for medical, surgical, dental or veterinary furniture, seats for specially
designed furniture for hi-fi systems, videos or televisions) and parts of seats (excl. for aircraft, for medical, surgical, dental or
veterinary seats, barbers' and similar chairs).
Please note that mattresses and mattress supports are excluded.
In terms of materials, coverage includes metal, wooden, plastic furniture and furniture of cane, osier, bamboo or similar materials.
Data gathering and processing methodology
Production data are estimated on the basis of:
 official statistics : statistics on the production of manufactured goods, statistics relating to the economic activity, or National Annual
Survey of Manufactures
 macro economic statistics and forecasts from international institutions (World Bank, International Monetary Fund, Organization for
Economic Co-operation and Development)
 sector documentation (eg trade press, sector associations)
 field information collected by CSIL experts who constantly monitor the main manufacturers and distributors, gathering information on
their activity, financial performance and strategies.
 Furniture production data for each country include furniture manufactured domestically only. Offshore production of local firms
appears in data for the foreign country where the manufacturing plants are located, independently from ownership of the plants.
Furniture trade data are processed by CSIL mainly on the basis of UN data.
Furniture trade data for all countries refer either to headings 94.01 and 94.03 of the Harmonized System, excluding seats of a kind used for
aircraft and seats of a kind used for motor vehicles, or to code 821 of SITC Rev. 3, excluding seats of a kind used for aircraft, seats of a kind
used for motor vehicles, mattresses supports, mattresses and similar furnishing.
Regarding furniture trade data, there are often discrepancies between the import data recorded by the importing countries and the export
data of the relevant exporting countries. This is due to a variety of causes: different treatment of insurance and freight, unrecorded
shipments, under-invoicing, fraudulent declarations and time gaps in recording at the end of the year (for example, trade recorded as exports
in December and imports in the following January).

7. Annex 6. Methodological Notes
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Consumption means apparent consumption at production prices excluding retail markup. It is calculated as follows: production-
exports+imports.
Values of production and consumption of furniture are at ex-factory prices (value of goods from producer). In general exports are valued
FOB (free on board) and imports are valued CIF (cost, insurance and freight).
Notes and presentation conventions
 Billion means 1,000 million.
 All figures are in current US$ unless otherwise indicated.
 LCU means Local Currency Unit, which is the currency used in that country. Data in local currencies were converted to US$ using
exchange rates from Bank of Italy and US Federal Reserve (see Annex2).
 Year on year variations are in nominal terms unless otherwise indicated.
 When we refer in the text to annual percentage changes in consumption in real terms, we refer to annual percentage changes
from which the influence of price fluctuations on the presented data is excluded.
The average annual growth rate is calculated as geometrical average, based on US$ values.
 Discrepancies in data presented in different editions of the report reflect updates by statistical offices, revisions to historical series
and changes in methodology. Readers are advised not to compare data series between different editions of the reports.
Country codes:
DZ: Algeria; AR: Argentina; AU: Australia; AT: Austria; BH: Bahrain; BE: Belgium; BA: Bosnia and Herzegovina; BR: Brazil; BG: Bulgaria;
CA: Canada; CL: Chile; CN: China; CO: Colombia; HR: Croatia; CY: Cyprus; CZ: Czech Republic; DK: Denmark; EG: Egypt; EE: Estonia; FI:
Finland; FR: France; DE: Germany; GR: Greece; HK: Hong Kong; HU: Hungary; IS: Iceland; IN: India; ID: Indonesia; IE: Ireland; IL: Israel;
IT: Italy; JP: Japan; KZ: Kazakhstan; KR: South Korea; KW: Kuwait; LV: Latvia; LB: Lebanon; LT: Lithuania; MY: Malaysia; MT: Malta; MX:
Mexico; MA: Morocco; NL: Netherlands; NZ: New Zealand; NO: Norway; OM: Oman; PH: Philippines; PL: Poland; PT: Portugal; QA: Qatar;
RO: Romania; RU: Russia; SA: Saudi Arabia; XS: Serbia; SG: Singapore; SK: Slovakia; SI: Slovenia; ZA: South Africa; ES: Spain; SE:
Sweden; CH: Switzerland; TW: Taiwan; TH: Thailand; TR: Turkey; UA: Ukraine; AE: United Arab Emirates; GB: United Kingdom; US: United
States; VE: Venezuela; VN: Vietnam.