Vietnam’s furniture manufacturing sector, focusing on beds, cabinets, tables, and chairs, showed impressive growth in October 2024, with significant increases in both monthly and yearly production.
Vietnam’s industrial production index data reveals a 4.5 percent increase in output from September 2024, reflecting stable month-over-month growth driven by steady demand in both domestic and export markets. Year-over-year, production surged by 28.2 percent compared to October 2023, indicating substantial growth in the furniture industry as global demand for Vietnamese furniture continues to expand. Cumulatively, production from January to October 2024 rose by 24.8 percent over the same period in 2023.
Vietnam’s furniture sector is benefiting from its reputation for quality and competitive pricing, particularly in the US and European markets. However, as demand grows, the industry faces challenges in ensuring sustainable sourcing, maintaining product quality, and navigating evolving international trade policies. Addressing these areas will be crucial to supporting continued expansion in this high-growth sector.
See also: Vietnam Furniture Manufacturing