Furniture orders are coming back to China from Vietnam

Source:
ITTO/Fordaq
Views:
407
  • text size

It has been reported that Vietnam's lockdown, which was due to end on 15 September 2021, has been extended until the end of September 2021 and many off-shore Chinese furniture companies say that they are directing orders back to China.

Vietnam surpassed China as the largest overseas supplier of veneer and plywood to the US at the end of 2020. Vietnam surpassed China as the largest furniture exporter to the US in May 2021.

But the corona virus ravaged Vietnam in mid-year and the government ordered factories to shutdown resulting in a sharp drop in output. Factory closures in Vietnam have forced Chinese investors in Vietnam to put expansion plans on hold.

Due to the spread of the epidemic, Thailand, Vietnam, Malaysia and Indonesia have suffered renewed outbreaks. Most countries have declared a "lockdown", resulting in the suspension of production in many factories and the return of orders from ASEAN countries to China.

Post comment