The Industrial Production Index (IPI) for beds, cabinets, tables, and chairs rose significantly by 11.40 percent in November compared to October, according to Vietnam’s General Statistics Office. This notable monthly growth underscores strong demand for furniture domestically and internationally.
Year-on-year, the sector posted a substantial increase of 24.33 percent in November 2024 compared to the same period in 2023. Over the first 11 months of 2024, cumulative growth reached 24.74 percent, marking furniture manufacturing as a standout performer in Vietnam’s industrial economy.
This growth is driven by strong export demand, particularly in North America and Europe, alongside rising domestic consumption. Vietnam’s reputation for quality craftsmanship and competitive pricing has further enhanced its position in the global furniture market.
Furniture manufacturing plays a pivotal role in Vietnam’s economy, contributing to export revenues and employment. Investments in sustainable materials and production technologies will be essential to sustaining this sector’s upward trajectory.
See also: Furniture Manufacturing in Vietnam