The forecasted data for the import of Furniture, Lighting, Signs, and Prefabricated Buildings to Vietnam indicates a steady increase from 2024 through 2028. In 2024, the value is predicted to be $891.01 million, rising to $926.38 million in 2025, $961.05 million in 2026, $995.02 million in 2027, and reaching $1028.3 million by 2028. This growth reflects an upward trend, with a notable year-on-year increase throughout the forecast period.
As of 2023, the actual import value stood at $857 million, forming the basis for future growth calculations. The variation between 2023 and 2024 is approximately 4.0%, while year-on-year differences from 2024 to 2028 display consistent increases. Overall, the compound annual growth rate (CAGR) for these five years is around 3.55%, showing a robust and stable rise in imports.
Future trends to watch for include:
- Political and economic stability in Vietnam and its trading partners, which could affect import volumes.
- Changes in trade policies or tariffs that could impact cost and supply chain dynamics.
- Growth of the construction and real estate sectors in Vietnam, influencing demand for prefabricated buildings and associated furniture and lighting products.
- Advances in sustainable and smart home technologies driving the types of imported products.