Tan Hoang Gia Trading Company Limited (Vietnam)

The company focuses on manufacturing wood furniture (sofas, tables, beds) and cushions, carpets, blankets, mattresses, etc. It imports materials mainly from South Korea and China; and a small ratio from the United Kingdom, Singapore, etc. Its products are exported depending on the customers' requirements in the form of FOB, mainly to the EU market, USA. On Mar 2023, the charter capital increased to VND 120 billion. According to estimated data from the General Department of Customs in October 2023, export turnover of wood and wooden products reached USD 1.2 billion, up by 5.7% compared to September 2023, but down by 0.9% compared to October 2022. Of which, export turnover of wooden products was estimated at USD 790 million, up by 4% compared to September 2023 and up by 0.3% compared to October 2022. Overall, for the first 10 months of 2023, the export turnover of wood and wooden products is estimated to reach USD 10.8 billion, down by 19.9% compared to the same period in 2022. Of which, export turnover of wooden products is estimated to reach USD 7.3 billion, down by 22.4% over the same period in 2022.In the country's export commodity structure, "wood and wooden products" is one of Vietnam's key export industries. However, due to a decrease in total demand because of the impact of inflation and tightened monetary policy in many large consumed markets, the export turnover of this industry has continuously declined since the beginning of 2023. Notably, in recent months, the export activities of the wooden industry have tended to recover positively. Many businesses have returned orders, serving the year-end furniture shopping season of the world market. Along with that, many USA and European customers encounter difficulties in the Chinese market so they look for other markets and find new suppliers to replace them, mainly Vietnamese businesses. Despite positive signs of recovery, the wooden industry still faces many difficulties and the growth momentum of this industry is still hindered by the weak global economy and persistent inflation.