Jakarta (VNA) - Indonesian furniture exporters are setting the♊ir sights on capturing 1% of the market share, following a significant decline in e🀅xports last year.
Global furniture sales are estimated to reach 729 billion USD in 2023, with a projected increase to 766 billion USD in 2024.
In 2023, Indonesia's furniture exports totaled 2.1 billion USD, marking a 23% decline from the previous year, according to data from the Indonesian Furniture and Handicraft Industry Association (Asmindo).
The US remains the largest export destination for Indonesia's furniture, accounting for 55% of exports.
According to Asmindo Chairman Dedy Rochimat, the association’s exports have been predominantly wooden furniture, comprising 68% of the overall furniture exports, with the US continuing to be the largest buyer.
The Indonesian furniture industry is actively working towards surpassing 7 billion USD in furniture exports in the coming years, aiming for approximately 1% of the global market share, he added.
To achieve this goal, the country needs to ensure an adequate supply of raw materials, invest in high-tech machinery, and enhance access to major markets such as the US and European countries, Dedy said./.
The Indonesian government will permanently relocate almost 10,000 residents after a series of explosive eruptions of the Ruang volcano have raised concerns about the dangers of residing on the island in future, Coordinating Minister for Human Development and Culture Muhadjir Effendy said on May 3.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
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The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
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Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
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The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
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This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
