The latest news on Vietnam handicraft export

Traditional handicraft production is not only a creative artistic activity but also an effective economic activity in Vietnam! Experts on international trade say that Vietnam is a country with great potential for exporting handicrafts. In this article, we will analyze the latest handicraft export situation in Vietnam.

The export situation of Vietnamese handicrafts in recent years

According to statistics of the Handicraft Exporters Association in Vietnam, for every 1 million USD of handicraft exports, the profit is 5-10 times higher than that of the mining industry; creating jobs for 3-5 thousand workers, so this group of industries is classified as a group with great export potential and high-profit rate. In addition, the export turnover of this item brings great added value. And is considered a key industry to focus on developing exports in the coming years.

Handicraft products of Vietnam are now present in more than 163 countries and territories around the world. Europe and the US are the largest markets for Vietnamese handicraft products, accounting for 35% of total export revenue.
In 2019, the export turnover of handicrafts reached 2.35 billion USD. Despite the impact of the pandemic, the handicraft industry has maintained a stable growth rate. The average export growth of TMNC is about 10%/year.

In general, in the past year, the export turnover of rattan, bamboo, and sedge products in Vietnam has grown in almost all schools, especially in India, which has increased by 2.3 times, even though the turnover to this market has increased, still very small. In addition to the two main markets, rattan, bamboo, sedge, and other braided products are also exported to Japan, Australia, Korea, China, and Canada…

Currently, the whole country has 723 craft villages processing rattan and bamboo and more than 1,000 enterprises engaged in the production and export of this item, attracting 342,000 workers. Although there are a large number of manufacturing enterprises and households and a sharp increase in export turnover, the export market share of Vietnam’s bamboo and rattan industry accounts for less than 3% of the world market. While the scale of global trade in rattan and bamboo products is up to 14-15 billion USD.

So all handicraft exporters like us – Viettimecraft try our best to contribute significantly to the increase in export turnover of the country.

Handicraft items

Vietnam possesses a multi-colored culture with an abundant and skilled workforce. With this advantage, Vietnam’s handicraft industry has developed a variety of products.
The main export items to other countries are wallets, bags, hats; toys; ceramic goods; rattan, bamboo, carpet products; art wood. The most typical products are bamboo and rattan products, ceramics, and handmade embroidery.

Most domestic and international customers are attracted to these items. Some items with great export value:

• Ceramic products reached 539 million USD

• Products of rattan, bamboo, and sedge mats reached 484 million USD

• Embroidery, hand-woven products reached 139 million USD

The government prioritized promoting export

One of the Government’s top priorities is to expand Vietnam’s export of handicraft products.
Improving the commercial value of products and developing export markets are the two basic solutions for the long-term and stable development of this field.
Handicraft products are the strength of Vietnam. Each Vietnamese handicraft product is like a different work of art, foreigners love that difference. Therefore, the Government needs to support handicraft production enterprises to boost exports further in the coming time.

Challenge in vietnam handicraft export

The Ministry of Industry and Trade believes that Vietnam’s process of international economic integration is posing many opportunities and challenges for the country’s handicraft enterprises, such as trade fairs, VIFA…
Therefore, in order to bring their handicraft products to the world level in the future, handicraft producers and exporters need to make more and more efforts. In particular, it is necessary to focus on product groups with competitive advantages that can satisfy many market segments.

Boosting exports

The quality of bamboo and rattan goods is: durable, beautiful and suitable for the environment. At the same time interested in design, markets such as Japan and Europe are very interested in products that are both modern but must combine Eurasian traditions, fastidious customers also require products must reflect the personal style of the creator.

Conclusion about vietnam handicraft export

The process of Vietnam’s international economic integration is opening up many opportunities and challenges for Vietnamese handicraft enterprises. Therefore, in order for Vietnam’s handicraft industry to strongly reach out to the world, the handicraft industry needs to determine the strategic direction of handicraft export in the 2021-2025 period, which is to improve the export capacity of the chain value of Vietnamese handicrafts on the basis of focusing on product groups with competitive advantages, increasing product value, and enhancing international standardization to meet many different market segments, which focuses on the mid-and high-end market segments.