Tiếng ViệtVietnam is the 12th largest wood furniture supplier to Norway. In the first 6 months of the year, Vietnam’s wooden furniture market share in total Norwegian imports decreased.
According to calculations from the statistics of the International Trade Center (ITC), in June 2022, the value of Norway’s wooden furniture imports reached $87 million, down 11.6% compared to June. 2021. Generally in the first 6 months of 2022, the value of Norway’s wooden furniture imports reached US$530.4 million, down 1.6% over the same period in 2021.
The wooden furniture market in Norway is quite large and has the highest per capita furniture consumption in Europe. Imported goods account for nearly 80% of the supply in the market.
In the first half of 2022, Norway imported wooden furniture from key markets such as Denmark, Lithuania, Sweden and Poland. Import value from these markets accounted for 71.9% of the total import value of wooden furniture. In which, Norway increased the proportion of imports from the market of Lithuania and Poland, and decreased the proportion of imports from the market of Denmark and Sweden.
Vietnam is the 12th largest wood furniture supplier to Norway, the value of imports from Vietnam in the first 6 months of 2022 reached 5.3 million USD, down 25.2% over the same period in 2021. The proportion of imports from Vietnam only accounts for 1% of the total import value, still too low compared to the average import demand of USD 902.4 million/year in the period of 2017 2021. Norway is the market. very potential for wooden furniture in Vietnam. Through Norway, Vietnamese businesses can bring goods to Nordic countries, especially the European Free Trade Area (EFTA includes Norway, Switzerland, Ireland…).
In the structure of wooden furniture, Norway mainly imports items such as living room and dining room furniture, kitchen furniture and wooden frame chairs. Import value of these 3 items accounted for 86.8% of total import value of wooden furniture of Norway.
In particular, Norway increased imports of furniture used in living rooms and dining rooms, decreased imports of kitchen furniture and wooden frame chairs. The room for exploiting wooden furniture products for Vietnamese businesses in the Norwegian market is still very large, because the proportion of imports is still very low.
