The Vietnam Trade Office in Australia said that Australia’s construction and materials market is booming following the government’s economic recovery plan.
The seasonally adjusted total for housing units increased by 18.6% to 51,055 while newly built private housing projects rose by 26.6% to 33,761 and other private housing projects climbed 4.1% to 16,049. The total value of completed housing works increased by 0.1% to AUD29.4 billion (over US$22.7 billion).
In the context that Australians are rushing to buy houses, activities related to home repair and decoration are also forecast to continue to soar in the future.
As a result, the export revenue of related products from Vietnam to Australia saw strong growth including wood and wood products (up 34.4%), electric wire and cable (up 207.9%), products made from iron and steel (up 12.15%), iron and steel (up 78.14%), ceramics (up 37.96%), and others.
The Vietnam Trade Office in Australia will continue with the organisation of an online international trade fair on Vietnamese goods sources with a focus on construction materials and home decoration in Australia in 2021.
In addition, through the Viet-Aus trade app, the Vietnam Trade Office in Australia also provides database on importers, information on trade exchanges, tax lines, import conditions as well as space for Vietnamese enterprises in the field to advertise themselves.