– Vietnam has held its place as the top source for U.S furniture in 2020, despite a downturn due to COVID-19
– Furniture imports from Vietnam surpassed $7.4 billion, marking a 31% increase over the previous year.
– Even though there was a 5.5% drop in overall U.S. furniture imports due to the pandemic
– Despite increased tariffs, China remains the second-largest supplier of furniture to the U.S, with a market share of 24.56%.
– Other notable sources are Malaysia (11%) and Mexico (3.54%).
– The boost in imports from Vietnam can be attributed to businesses shifting their supply chains as a result of ongoing trade issues with China.

Vietnam Retains Crown Despite Down Year

Soaring Past Rivals in Furniture Imports

Navigating the Pandemic & Tariff Storm

Even in an unprecedented 2020 rife with pandemic-related disruptions and economic hits, Vietnam showed great resilience and kept its reigning title as the largest furniture source for the United States. Bucking the overall 5.5% drop in nationwide furniture imports, Vietnam saw its exports to the U.S. surge by 31%, totaling over $7.4 billion, a figure that’s mighty impressive. In the face of heightened tariffs, China still held its ground as the second-largest furniture supplier to the U.S., contributing to almost a quarter of the market share. Not to be overshadowed, Malaysia made its mark with an 11% slice of the pie, while Mexico trailed with a modest 3.54%. The notable shift toward Vietnamese imports can largely be chalked up to savvy businesses reshuffling their supply chains, to dodge trade tensions with China. Despite the challenging backdrop, Vietnam has etched itself deeper into the global furniture supply scene, poised to keep its status intact.

originial article https://www.furnituretoday.com/?p=316854

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