Recent Developments in Vietnam's Housewares and Gifts Industry

From 2023, the organizer of Home Show Vietnam, together with the Vietnam National Consumer Goods Import Industry Association, will hold the "Home Show Vietnam-International Houseware and Gift Fair" in the same hall of Vietnam Expo at the same time. To create a one-stop B2B sourcing platform for Vietnam's home furnishing and gift industry, and introduce "fashionable home furnishing" to thousands of households in Vietnam. 

In recent months, Vietnam's home furnishing and gift industry has continued to maintain a good growth trend. From the production side, Vietnam furniture factories have resumed full capacity since the end of 2021, and from February to May 2022, the production index of Vietnam furniture manufacturing industry has increased by more than 9% compared with the same period of last year, and the industry has maintained a high development speed. Among them, the index grew by as much as 10.4% year-on-year in May 2022. This was attributed to the high growth in the export value of Vietnamese goods in May in an environment of strong overseas demand. 

From the demand side, on the one hand, the index achieved a high growth rate of 22.6% year-on-year in May 2022, marking the country's sixth consecutive month of positive year-on-year growth in consumer demand for goods and services since December 2021. On the other hand, the EU and Australia are the main export markets for Vietnamese wooden furniture, accounting for more than 80% of its total exports.